Digital tokens are assets that can be exchanged for specific products or deals. Think a “Free coffee” coupon or a “50% off” voucher. Unlike assets such as currency, tokens can only be spent in their entirety, all at once.
Token Collection
A collection is a grouping of tokens that share the same attributes and redemption conditions, e.g.
- Name
- Icon
- Expiry period
- Maximum redemption value
Redemption Conditions
A redemption condition allows a Merchant to accept tokens from a token collection. It contains redemption details specific to that merchant, e.g. redeemable product SKUs.
Implementation
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-
Create Collection
You can create Collections by calling our Create Token Collection endpoint. You will need the account identifier of the owning account for the
accountId
field. ThemaxValue
field is optional, and defines the upper limit on any settlement amount for a redeemed token. -
Create Redemption Condition for each merchant, using the collection Id from step 1
Redemption Conditions are created by calling the Create Redemption Condition endpoint. You will need the merchant identifier for the
merchantId
field. The list ofallowedProducts
defines those products sold by the merchant that are eligible for redemption. Thesku
for the product will need to match thesku
that is passed in with the line item when the merchant creates the payment during redemption: Create Payment Request. -
Create Token
Tokens can be created for the collection by calling the Create Token endpoint.
To create tokens directly into a user account, call our Create Token endpoint and include the user’s
accountId
in your request. -
Transfer Token
For sending tokens to users, see Sending Assets