What is a Receiver Wallet?
A receiver wallet in Meridian is like a digital mailbox that holds payments until you’re ready to collect them. Instead of payments going directly to your personal wallet, they first go to Meridian’s secure system where they’re tracked and managed.How It Works
Traditional x402 Systems
In most x402 systems, when someone pays you:Meridian’s Receiver Wallet System
With Meridian, payments work differently:Key Benefits
1. Controlled Access
- Payments are held securely in Meridian’s system
- You decide when to withdraw your funds
- No immediate wallet transfers required
2. Organization Management
- Teams can share receiver wallets
- Multiple people can manage payments together
- Centralized payment tracking for businesses
3. Fee Management
- Small fees (1%) are only charged when you withdraw funds
- No fees on incoming payments
- Transparent fee structure
4. Multi-Chain Flexibility
- Receive payments on multiple blockchain networks
- Withdraw funds to any supported network of your choice
- No need to match payment network with withdrawal network
- Simplified cross-chain payment management
5. Enhanced Security
- Organization-scoped access control
- API key authentication
- Complete audit trail of all transactions
Real-World Example
Imagine you run a small business:- Customer pays for your service using Meridian
- Payment goes to your organization’s receiver wallet
- Funds are tracked in Meridian’s system
- You withdraw when you need the money
- Small fee is deducted only at withdrawal time
Why Use Receiver Wallets?
- Better cash flow management - withdraw funds when needed
- Team collaboration - multiple people can manage payments
- Reduced complexity - Meridian handles the technical details
- Multi-chain convenience - receive on any network, withdraw to any network
- Enhanced security - organization-level access controls
- Transparent fees - only pay when you actually use the funds