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YPTWallet Usage
The YPTWallet Plugin acts as a virtual wallet where users can store credits to use on the AVideo platform. These credits can be spent using additional plugins, providing a useful solution to circumvent third-party fees. The YPTWallet plugin integrates seamlessly with PayPal and Stripe.
You can refer to the PayPalYPT plugin setup here and StripeYPT plugin setup here.
Upon each manual request, the administrator's specified email will receive a notification.
Users can top up their wallets if the site administrator accepts payment through various means. After making the payment, users need to notify the administrator, who can then approve or cancel the request. Once the payment is approved, the credits are automatically added to the user's wallet.
The Withdrawing Funds feature in the YPTWallet Plugin allows users to request a withdrawal of their virtual credits from their wallet to be transferred to them outside of the platform. Here is a detailed explanation of how this process works and some best practices:
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How It Works: When a user requests a withdrawal, the requested amount is deducted from their wallet and marked as 'pending' in their transaction history. The site administrator then manually processes the request, typically by transferring the funds to the user’s bank account or preferred payment method.
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Why It's Recommended: Manual withdrawals provide the site administrator with greater control over the process, allowing them to ensure that all requests are legitimate and processed securely. Additionally, this method does not require the user or admin to have any third-party accounts such as PayPal, making it a more flexible option for managing user funds.
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How To Process: After reviewing the withdrawal request, the admin can either approve or cancel the transaction:
- Approval: Once approved, the funds are deducted from the user’s wallet, and the transfer is completed manually (e.g., via bank transfer).
- Cancellation: If the admin cancels the request, the deducted amount is refunded to the user’s wallet automatically.
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How It Works: It is also possible to automate withdrawals using PayPal. In this case, when a user requests a withdrawal, the system can automatically transfer the funds from the admin’s PayPal account to the user’s PayPal account.
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Requirements: Both the user and the admin must have valid PayPal accounts linked to the system for automatic withdrawals to work.
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Why Manual Withdrawals are Preferred: While automatic withdrawals can be convenient, manual withdrawals are generally recommended for enhanced security and control. Manual processing allows the admin to review each request, ensuring that no errors or fraudulent transactions occur. It also provides more flexibility in handling different types of payment methods beyond PayPal.
In summary, while automatic withdrawals offer a more streamlined option for PayPal users, manual withdrawals are the safer, more customizable method. The admin can transfer funds directly to the requester’s bank account, allowing for better oversight of each transaction.
You can customize the YPTWallet plugin with the following options:
- decimalPrecision: The decimal precision of the currency used on your site.
- wallet_button_title: The label for the top button.
- add_funds_text: The text that appears on the automatic add page (for PayPal).
- add_funds_success_success: Text shown upon successful addition of funds.
- add_funds_success_cancel: Text shown if adding funds is canceled.
- add_funds_success_fail: Text shown if adding funds fails.
- transfer_funds_text: Text displayed on the fund transfer page.
- transfer_funds_success_success: Text shown upon successful fund transfer.
- transfer_funds_success_fail: Text shown if fund transfer fails.
- withdraw_funds_text: Text displayed on the withdrawal page.
- withdraw_funds_success_success: Text shown upon successful withdrawal of funds.
- withdraw_funds_success_fail: Text shown if withdrawal of funds fails.
- currency: The abbreviation of your currency (e.g., USD).
- currency_symbol: The symbol of your currency (e.g., "$").
- addFundsOptions: A JSON array with value options for adding funds.
- showWalletOnlyToAdmin: Check this if only the admin should see the wallet at the top.
- CryptoWalletName: The label for each user's Cryptocurrency wallet address.
- enableAutomaticAddFundsPage: Check this to enable the use of PayPal.
- enableManualAddFundsPage: Check this to allow manual addition of funds (useful for using your own currency).
- manualAddFundsMenuTitle: The menu label.
- manualAddFundsPageButton: The label for the confirmation button.
- manualAddFundsNotifyEmail: The email address where add funds requests will be notified.
- manualAddFundsTransferFromUserId: The user ID to transfer funds from when an add funds request is approved.
- enableManualWithdrawFundsPage: Check this to allow manual withdrawals (useful for using your own currency).
- withdrawFundsOptions: A JSON array with value options for withdrawing funds.
- manualWithdrawFundsMenuTitle: The menu label.
- manualWithdrawFundsPageButton: The label for the confirmation button.
- manualWithdrawFundsNotifyEmail: The email address where withdrawal requests will be notified.
- manualWithdrawFundsTransferToUserId: The user ID to transfer funds to when a withdrawal request is approved.