What is DafriBank?
DafriBank is a cryptocurrency-based bank in Africa and the Middle East. DafriBank offers its customers and merchants multiple ways to pay, transfer money domestically and internationally with all types of cryptocurrencies including DafraCoin, Bitcoin, Ethereum, and Litecoin.
DafriBank has successfully launched its API to allow access for customization into third-party applications such as web applications, mobile apps, or even IoT (Internet of Things) devices such as refrigerators or vending machines to use DafriCoins.
The DariBank Merchant API
The DariBank Merchant API makes it easy for merchants to create multiple accounts, manage them and retrieve the current balance. Each account comes with a unique wallet address. Alarmingly, DafriBank has launched their own DafriCoin cryptocurrency which means all Dafris are equivalent to USD value based on the cryptocurrency exchange Coinbase GDAX. This allows merchants who use the merchant API of DafriBank to automatically record transactions in fiat currency including EUR, USD GBP, or any other supported fiat currencies.
To ensure safety against fraud attempts by hackers wanting to steal others' money using its services, DafriBank monitors all activities on its network 24/7 with anti-fraud tools developed by its team of developers. DafriBank's merchant API is RESTful, which means it uses request/response to communicate between the merchant and DafriBank. It supports most HTTP methods, including GET, POST, PUT and DELETE.
The DariBank Merchant API follows a very easy yet different approach when compared with other cryptocurrency banking system APIs available in the marketplace today. First of all, there are no authentication keys or tokens required for each transaction, unlike traditional banking APIs that require every transaction to be validated by an SSL certificate vendor such as Comodo, Thawte ECC Symantec, etc...
Apart from the above-mentioned benefits regarding authentication methods used by banks in general, DafriBank also does not have hidden fees or percentage commission fees to be paid for each successful transaction.
On the other hand, DafriBank's Merchant API makes it possible for merchants all around the world to connect to their platform and use DafriCoins as a mode of payment for goods and services rendered. As mentioned earlier, this is done automatically at no extra fee apart from the normal transaction fee charged by Coinbase GDAX, which can be viewed here.
The Merchant API uses HTTPS requests with Basic Authentication using merchant account username & password credentials -- Please do not attempt to try this service using any other email address apart from your intended target user. For added security always use SSL certificates signed by one of the trusted authorities listed above whenever connecting via HTTPS to DafriBank's Merchant API
To get started with DafriBank Cryptocurrency Banking Services, signup for a merchant account and start accepting payments in fiat currency or cryptocurrency.
In a strong and secure environment, the components of the DafriBank ePay API (Application Programming Interfaces) allow organizations and merchants such as betting platforms, forex brokers, cryptocurrency exchanges, and multi-level marketing firms to receive deposits and make withdrawal settlements. It is necessary for both merchants and clients to be DafriBank Digital customers in order to utilize the ePay service. This is due to a lack of cash
Transaction funding processes
Transactions will be funded by funds originating in customers' DafriBank Accounts and being deposited into the merchant's DafriBank Business Account.
It is essential that merchants utilize the latest version of ePay API in order to be compatible with DafriBank's new banking system.
The following are some of the features of DafriBank ePay API:
Securely swipe credit/debit card payments via PayStub™
Auto-swiping feature for making bulk transactions at once
Before completing payment, you have the option to verify the authenticity of your credit/debit card number. As a result of setting this option, during the authorization process, DafriBank will manually approve all submitted cards using the 3D secure protocol (Verified by Visa / Mastercard SecureCode) in order to determine if the card is legitimate or invalid. After validating its legitimacy, if it is determined to be legitimate, the charge will be applied immediately. In order to make use of this very efficient payment-processing gateway, firms must first establish a DafriBank Digital Business Account with the bank.
Requirements for potential merchants
Potential merchants must submit to AML and KYB (Know Your Business) compliance checks by supplying us with certificates of incorporation, proof of address, and any other evidence that our compliance staff deems necessary or appropriate.
Potential merchants who have passed the Compliance check are encouraged to contact our engineers at [email protected] to seek the API Key Activation and other integration support. Settlement payouts are available on a rolling basis but must be deposited into a DafriBank Digital Account. The minimum payout amount is €0.1 for SEPA (Single Euro Payments Area) and $0.02 for USD (International Wire).
Conclusion
Please keep in mind that any effort to process transaction information that is fraudulent or misleading will result in the immediate suspension of access to the ePay API, as well as the cancellation of any ongoing transactions. In the event of a legal dispute, further fines may be imposed.
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For more inquiries please do visit the useful links below:
Website: https://dafribank.com/
Telegram group: https://t.me/DBATalk
Twitter: https://twitter.com/DafriBank?s=09
Facebook: https://www.facebook.com/DafriBank/
Linkedin: https://www.linkedin.com/mwlite/company/dafribank-limited
Instagram: https://www.instagram.com/dafribank/
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