Where can I find information about prices?
Please check wellet.

Why do transaction fees for business and corporate cards processing cost more?
It is more expensive for Visa or Mastercard as well as banks to process those cards. Luckily, these cards are few.
What is Payout?
Payout is the settlement of your earned money to your own bank account.

How much does Payout cost?
Each payout costs 0,49€.

What are the conditions for Payout?
You will receive payout once you have received payments for at least 11€. All the transactional fees will be deducted automatically.
To receive your first payout you will have to pass through KYC-procedures. You can read more about KYC below.

How often can I receive Payouts?
During onboarding you will be asked how often you would prefer to receive payouts: daily or weekly.
In case you choose daily — it would take us 2 working days to send payout to you, more if you've made sales during weekends.
Why so long? It is how bank transfers work all over the globe: next day after you purchase something, customers' banks send money to us, and then we need one more day to send it to you securely. And you can imagine that banks work only during work days.

Is it possible to do manual payouts?
No, it is not. You have to choose daily or weekly payouts.

Can you show an example of calculating the Payout?
Let's say each day in June 2021 you earn at least 11€.
  • If you have chosen daily payouts you will receive 20 payouts during June (payout for the 1 June will happen on 3 June, for the 2 of June — on 4 June and so on excluding weekends and holidays). Therefore 9,8€ will be deducted from your payout on the 1 July (20 * 0,49€ = 9,8€).
  • If you have chosen weekly payouts you will receive 4 payouts on Mondays 7, 14, 21 and 28 of June. That will be 4 * 0,49€ = 1,96€.

I disagree with the amount of Payout. What should I do?
Please contact us as soon as possible. If you miss to do it in the course of 15 days after the transaction is made it won't be possible to fix.
Refunds, voids and chargebacks
What is Refund?
It may happen that your customer wants their money back. The process of returning money is called Refund. How much does Refund cost? Each refund costs 0,49€ — that's amount is charged by Visa and Mastercard. Can I just return cash to customer? It is forbidden to make refunds with cash if the payment was done by card. That might seem a little odd but Visa and Mastercard demand it. If you get caught doing that you might be banned from using Wellet or any other POS forever.

What is Void?
There is a special type of free refund — it is called "Void" and has a separate button inside our app. You can void the transaction till 23:59 CET on the day when the transaction was created.

What is Chargeback?
If you do not return money or you have made it illegally, customers can contact Visa and Mastercard directly and ask for a Chargeback. Special investigation will be initiated — quite an unpleasant thing. First of all that will cost you 25€, secondly you will have to prove the transaction was legitimate with receipts, invoices, collection documents and so on and so forth. Better to avoid that at all.

You can receive Chargeback if you do not perform proper authorization and adhere to correct processing procedures.

What will happen if I have a lot of refund or chargebacks?
If there are a lot of refunds (or chargebacks, which is even worse) your account and business will look suspicious which can lead to different consequences including increased transaction fees, creatinga Reserve account and settin up Trading limits.

What is Reserve account?
If you are suspected in some fraudulent transactions, a special account will be opened on your name. From that point you will be charged additional transcation fees from 3% to 10%, which will be going straight to the new account. That money will be used to used to minimize risk for any future refunds, chargebacks and fraudulent transactions. All the details is covered in Terms and Conditions and Appendix 2 - Reserve.

If you do business honestly and lawfully that is unlikely to happen.

What is Trading limits?
If you are suspected in fraud, trading limits may be set above a certain number or value of transactions. When you reach that mumber or value — you will be asked for additional documentation. Tradinig limits are covered by Terms and Conditions.

It is very rare.
If you do business honestly and lawfully that is unlikely to happen.
KYC (Know-Your-Client) procedures
What is KYC?
That's a regular verification for banks. You've already had a similar one when you opened your business account in your bank.

How does KYC work?
We created a two-steps verification to make your experience as smooth as possible.
1. On the first step we will perform a quick check which takes approximately 10 minutes. After that you will receive your account details and you can start accepting card payments.
2. Second step takes about 48 hours when our partner bank will perform a deep check. After that you can receive your first payout. If the bank is not satisfied with some of the information they will contact you directly to clarify any issues.

Attention! If your business has not passed the KYC, you will be refused from using Wellet; any payouts awaiting to be settled will be frozen and will not reach you. You should take this risk in consideration when starting working with Wellet or any other financial instituion.
Start work
I haven't received emails with my login details.
Please check the SPAM-folder. If you find our letter there, please add Wellet to the trusted senders. If there is no letter, please contact our support.

How can I get a Wellet application?
You can download it from GooglePlay using link on our website or from the letter that you will receive once you complete the onboarding.

Some smartphone doesn't have GooglePlay installed by default. In this rare situations you should download GooglePlay.

If you can't download GooglePlay we will not be able to provide you with Wellet due to security reasons.

Who can use Wellet?
Only legal registered businesses with a business bank account can use Wellet. You cannot use Wellet in any other cases.

Does Wellet work with an iPhone? Unfortunately, no. iPhone has restricted access to its NFC-chip for third parties developers like Wellet. We are looking forward to the moment when Apple will reinvent this feature — once that is done we will integrate it to Wellet.

What is the duration of the contract to use Wellet?
You can pause or stop using Wellet anytime wthout any fines.

If you don't use Wellet for 2 years your account will be closed and you will have to register from a scratch to use it again. You will be notified about it 30 days in advance.
Any unsettled funds will be processed according to the applicable legislation and if admissible, they will be added to the funds of Paynetics

Why do you have so complicated registration and onboarding?
We create a special account that is quite similar to banks' accounts so you could accept payments. Due to security regulations you should undergo KYC-procedure before such account can be opened and assigned to you. To perform KYC we need to get all this information.

What do you do with all onboarding information?
All collected data information is being sent securily to our partner acquirer Paynetics (you can read about Paynetics below). Paynetics processes it to perform KYC. Then we store all the data on the territory of European Union.
We deal with all your information in accordance with GDPR, our Privacy Policy and Paynetics' Privacy Policy (Appendix 3 to Terms and Conditions).
Using of the app
Does Wellet work without internet connection?
No, you won't be able to accept payments without stable connection.

In which countries can I use Wellet?
You can use Wellet anywhere in the European Union as long as you accept euro. However, we can provide you only English, Spanish and German support in case you need it. Please, pay attention: it is your responsibility to be in compliance with all local laws.

Can multiple employees use Wellet?
With your login details you can use Wellet on multiple devices simultaneously. Please be aware about security risks: all devices get the same access rights. For example, it's possible to make refunds for any transaction. If you'd like to provide your employee with your login details, make sure you can trust them.

Should I store payslips, receipts or any other proofs of transactions?
You should retain legible copies of data and original transaction receipt for a minimum period of 18 months from the date of each transaction. It could be in form of paper slips or electronic copies if it is applicable.
Accepting payments
Which cards can I accept?
With Wellet you can accept all contactless cards issued by Visa and Mastercard or co-branded with Visa and Mastercard (for example, most of EC cards are co-branded). There is no difference whether it is debit or credit card.
You cannot accept American Express, JCB, Dinners Club or any other cards.

What about ApplePay, GooglePay, SamsungPay, etc?
You can accept payments from any smartphone, watches or any other wearables if they are connected with a card issued by Visa or Mastercard.

What if there isn't enough funds on the customers' card?
You will receive a notification about it, transaction won't pass in the same way as on a regular POS.

Is it possible to accept payments over the CVM limit?
CVM (Cardholder Verification Method) is used to verify whether a person attempting a transaction is the legitimate cardholder. It is used when the volume of a single transaction is beyond CVM limit which is 50€ in most of the EU countries.
To accept payments over CVM limit with Wellet you need to verify the cardholder with PIN entry.
First time you will try accept a 50€+ transaction we will offer you to download a special PIN entry app — that's a special expansion which allows you to ask for cardholders PIN. That's absolutely safe, do not worry.

Once it is installed and you want to accept a transaction over 50€ you will see a PIN pad. Ask your customer to enter PIN-code to verify the transaction.

You will not need it if your customer use ApplePay, GooglePay, smart watches or anything like that.

Is it possible to enter PIN in Wellet?
Yes, but you will have to download a separate PIN entry expansion. You will be advised to do that first time you try to accept payment over the CVM limit (50€ for most of the EU).

Why does the application ask me to download a PIN entry app?
Visa and Mastercard require that for all transactions over the CVM limit (50€ for most of the EU) customers would enter a PIN code.

For SoftPOS it is obligatory for the PIN-pad to be a separate application for security purposes. That is why if you'd like to accept 50€+ payments you'll have to download the expansion.

You will be directed to a Google.Play to download Pin entry pad first time you would like to accept payment above CVM limit (50€ for most of the EU).
What security measures should I use?
It is your duty to use Wellet securily, protect it from any unathorised access. Do not share your login details, don't use your smartphone without locking screen and other security measures, pay as much attention as possible.
You should protect cardholder data as well.

There is a much more information about your obligations in Terms and Conditions.

I suspect a security breach. What should I do?
You should immediately:
1. Contact us using any channel.
2. Contact our Acquirer Paynetics at
Describe everythins you know about the issue.

If there are any actions that could prevent possible fraud, please do it.

What to do with an Unauthorized Card?
If you are informed that a Card has been reported lost or stolen, or is otherwise invalid, do not complete the Transaction.
If you are instructed to retain the Card, follow these procedures:
  • If payment is done via physical card, cut the Card through the account number lengthwise without damaging the Magnetic Stripe and contact Paynetics for further instructions.
  • If payment is done via any other payment means (phone, key holder, etc) contact Wellet or Paynetics as soon as possible.
  • Do not challenge the Card holder. Avoid any physical confrontation with anyone who may be using a lost, stolen, or otherwise invalid Card. Do not jeopardize your safety or that of your employees or Customers.
  • Once the person leaves your location, note in writing his or her physical characteristics and any other relevant identification information.

Suspicious customers.
Be aware of customers who:
  • Make indiscriminate high value purchases without regard to size, color, style, or price
  • Question the sales employee about credit limits or the Authorization process
  • Attempt to distract the sales employee (e.g., continually delay selections, talk continuously)
  • Purchase a high-ticket item, such as a wide-screen HDTV monitor or other large item, and insist on taking it immediately, rather than having it delivered—even when delivery is included in the price
  • Buy a high-ticket item and request that it be sent next day air or request for someone else to pick up the purchase at a later time
  • Pull a Card from a pocket rather than a wallet
  • Appear too young to make purchases with a Card
  • Buy clothing without trying it on for size or decline alterations that are included in the price
  • Charge expensive items on a newly valid Card
  • Do not ask questions on major purchases
  • Make purchases, leave the store, and return to make more purchases
  • Make purchases just after the store opens or just before it closes
  • Use a Card belonging to a friend or relative

Suspicious Employee Actions.
Be aware – not all Card fraud is committed by Customers. Sometimes employees engage in fraud using the following activities:
  • Recording Card Numbers: Employees may write Card numbers on another piece of paper.
  • Processing contactless payments with their own Phos merchant accounts
What else is in your responsibility
  • run your business legally;
  • comply with all applicable laws and association rules and regulations, including but not limited with local fiscal laws, laws regarding obtaining personal information from a cardholder;
  • pay all applicable taxes;
  • prevent any fraudulent activity (see our FAQ for more information);
  • keep login details in secret.

Do not:
  • accept a card services or expenses related to:
  • defence of any crime other than a traffic violation;
  • any domestic relations matter where such services or expenses are furnished to a person whose name is not embossed on a Card;
  • any bankruptcy, insolvency, compromise, composition or other process affecting Cardholder's creditors.
  • accept a card to collect or refinance any debt fine or penalty of any kind, losses, damages or any other costs that are beyond the total sale price;
  • process a transaction under a different trade name or business affiliation.
About Wellet
What is Wellet?
We are software company. Our mission is to provide you with cutting edge technology for accepting payments — SoftPOS (as known as Tap to Phone). We are trying to do it with exceptional service on all levels — from quality of the software to fast support.

Who is your Accquirer?
As we are not a financial instituion we are partnering with company Paynetics AD — e-money institution passported to provide its services across the EU and the UK. You can find more information on

Are you certified with Visa and Mastercard? We use Phos as a core SoftPOS engine. They have certification that covers Wellet from Visa and Mastercard, you can check that with Visa and Mastercard partners pages.
If you need any help that you hadn't found on that page, please contact us via chat, email: or phone 49 228 286 840 25 for Germany, WhatsApp for Spain.
If you ever need to contact Paynetics, please do it via:, but be aware that you should do that using English.