Payments

Navigate to the Payments tab in BoomFi's Dashboard settings to configure your crypto settlements, card settlements, and underpayment.

Crypto Settlements

You can select specific blockchains, designate a Settlement address, and choose the supported currencies for each settlement network. This setup lets you define parameters for processing settlements and determine the compatible currencies for each blockchain in your system.

Configuring your Settlement settings

To configure a new blockchain into your BoomFi account, you need to do the following:

1. Navigate to the Payments tab.
2. Toggle on the selected blockchain you desire.
3. Insert the settlement address for the specific blockchain.
4. Select the supported currencies you wish to accept in this blockchain.
5. Save your changes.

Card Settlement

BoomFi lets you define a card processor to settle card transactions. In the same Payments tab in you've navigated to earlier, scroll down to find the Card Settlement option.

Underpayments

Underpayment settings let you define how much of an underpaid invoice you will accept at checkout. This adds flexibility when customers do not pay the full invoice amount.

Setting an Acceptable underpayment percentage allows percentage-based tolerance, while the Maximum allowable underpayment amount enforces a specific underpayment dollar amount. Depending on your needs, use either or both to fine-tune underpayment acceptance behavior.

Configuring your Underpayment settings

To configure underpayment settings, follow the steps below:

1. Navigate to the Payments tab.
2. Scroll down, under Card Settlement, you will find the Underpayment settings.
3. Toggle the available options on/off, and set their values:
   1. Allow an underpayment tolerance: This lets you specify the percentage of the total invoice amount you are willing to accept as an underpayment.
      Example: If set to 1% for a $100 item, you’ll accept $99 or more.
   2. Do not accept payments underpaid by more than a certain amount: Set a fixed amount threshold below which underpayments will not be accepted.
      Example: If set to $5 for a $100 item, you’ll accept $95 or more.
4. Save your changes.

📘

Combining Percentage and Amount

If both the percentage and the fixed amount are set, then the percentage underpayment is used, with the fixed amount acting as a hard cap.

• Example: With 1% and $5 thresholds:
  • For a $100 item, $99 and above payments are accepted.
  • For a $1,000 item, $995 and above payments are accepted.

Schema Definition

Below is the TypeScript interface defining these thresholds:

export interface UnderpayThresholds {
  underpay_tolerance_percent?: number; // Acceptable underpayment percentage
  underpay_tolerance_usd?: number;     // Maximum allowable underpayment amount
}

Setting underpay_tolerance_percent allows percentage-based tolerance, while underpay_tolerance_usd enforces a specific underpayment dollar amount. Depending on your needs, use either or both to fine-tune underpayment acceptance behavior.