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Batch payments

Overview

The tab provides an additional service for depositing cryptocurrency-nominated funds. Cryptocurrency payments can be grouped into batches to hasten the process of fulfillment. The main purpose is to transfer cryptocurrency from one wallet to several other wallets at once. For example, a wallet is used to provide cryptocurrency exchange services; once the currency is sold it must be sent to the recipient’s wallet. Batch payments allow the wallet owner to process multiple transactions in sequence and send cryptocurrency transfers to the recipients’ wallets.

Each Batch payment is divided into several iterations – the limited amount of transactions that can be processed by the service provider at once. The maximum limit for an iteration is 100, though the user can control the payments more precisely if a smaller amount is set.

For creating batch payments on BitGo, a dedicated crypto wallet is required to be used only for mass payouts to crypto addresses in a particular cryptocurrency.

Related pages

Transactions

Opening the item

Follow the steps below to see the list of Batch payments:

  1. Navigate to the Admin Panel.

  2. Click Banking on the left sidebar.

  3. Go to the Batch payments menu item.

  4. Click Show in the payment line to open the details.

How to create a Batch payment

The mass payout wallet must be configured to have additional approval for all transfers. Never use the wallets without additional approval for batch payments due to the high risk of duplicates.

To create a new Batch payment

  • Select a Provider name from the drop-down list in the Provider Name field.

  • Select a currency for the Batch payment. The currency should correspond to the wallet currency.

  • Set the number of recipients that will be addressed per batch. One file can contain an unlimited number of recipients. However, BitGo has a limitation for the number of addresses that can be processed in one batch. Crassula system will split the list of recipients into batches — a maximum of 100 recipients per batch.

It is possible that the network can be overloaded and the “Too many requests” error may occur. In this case, enter the lower number of recipients per batch and try again.

  • Define the address of a wallet used as a source of crypto liquidity for executing batch payments.

  • Import a CSV or XLS file with the list of wallets and amounts to transfer as a Batch payment. Remember to download and see an example in the top sidebar.

  • Click Create to convert the file to an API request and prepare the payment operation.

  • Navigate back to the Batch Payment list.

  • The Batch payment has been successfully created notification appears.

  • Click Start to launch the payment.

  • The transaction status will change to Waiting for approval.

  • Navigate to BitGo to approve the transaction. You will see a notification in the Activity tab. Keep in mind, that the user who approves the transaction must be different from the user who has created the account with the wallet for batch payments on BitGo.

  • After completing the payment, the status of the transaction will change to Approved.

  • Navigate back to the Batch Payment list and click Show to open the details of created batch payment.

  • Click the request ID to see the details of a particular batch. The following details will be provided:

    • Iteration status.

    • The list of recipients who successfully received the payment.

    • The list of recipient addresses containing errors.

Component parameters

Batch payments

Parameter

Description

Provider name

The column defines the providers delivering the transaction execution service.

Status

The column defines a batch payment status:

  • New – the batch payment is created but not started yet.

  • In process – the batch payment is being executed.

  • Complete – the batch payment is successfully transferred.

  • Error Iteration Canceled – an error occurred in the process of iteration parts execution.

  • Canceled – the batch payment is manually canceled.

Mass payout wallet address

The address of a wallet opened in the provider’s platform. The currency is transferred from this wallet.

Currency

The column defines the batch payment currency.

Administrator

The Administrator who has created the batch payment.

Created at

Date and time of the batch payment creation.

Started at

Date and time when the batch payment was started.

Updated at

Date and time when the last changes were applied to the payment details.

Action

Click Show to open the batch payment details without the ability to edit them.

Top sidebar

  • CSV file example – download an example of the supported format.

  • XLS file example – download an example of the supported format.

Add new

Create a new Batch payment. For more information, see the previous section.

Help

Click to access the current page right from the Admin Panel.

Configuring the component

Batch payment details

Monitor Batch payment execution in the window.

Batch payment details

Parameter

Description

Details

General batch payment information that corresponds to the one presented in the Batch Payments List. There are a few special parameters present:

  • Number of recipients in one batch (max 100) - the parameter defines the number of recipients per iteration.

  • Recipients summary - the parameter defines the total number of recipients in all iterations.

Top sidebar

  • CSV file example – download an example of the supported format.

  • XLS file example – download an example of the supported format.

  • Recipients - click the tab to open the list of batch payment recipients.

  • Batch payment requests - click the tab to open the list of iterations.

  • Help - click to access the current page right from the Admin Panel.

Recipients

The window provides an overview of all batch payment recipients.

Batch payment recipients

Parameter

Description

Valid

The parameter defines whether the recipient wallet is active.

Funds received

The column defines whether the payment acceptance is confirmed by external services.

Provider number

The parameter defines the recipient's wallet address.

Amount

The payment amount sent to the wallet address

Batch payment requests

The window provides the Iterations list.

Batch payment requests

Parameter

Description

Status

The parameter defines the payment status:

  • New – the batch payment is created but not started yet.

  • In process – the batch payment is being executed.

  • Complete – the batch payment is successfully transferred.

  • Error Iteration Canceled – an error occurred in the process of iteration parts execution.

  • Canceled – the batch payment is manually canceled.

Part

Iteration index number.

Transaction ID

Transaction number delivered by an external service provider.

Created at

Date and time of the batch payment creation.

Updated at

Date and time when the last changes were applied to the payment details.

Action

Click Show to open iteration details without ability to edit them.

Request details

Request details

Parameter

Description

Details

General iteration details that correspond to the ones presented in the Iterations List.

Recipients

The list of iteration recipients with wallet addresses and payment amounts.

Invalid recipients

The list of iteration recipients whose wallets could not be processed.

Logs

Navigate to the tab to see the extended details on each iteration. Logs are provided by the service provider.

Useful tips

The smaller the Iteration count, the easier it is to cancel a Batch payment execution. For example, if the user cancels the Batch payment, the system will process all of the transactions in the current iteration part, before canceling the rest of the parts. Therefore, the smaller the iteration part, the fewer transactions will be processed in case of Batch payment cancelation.

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