Setting up PayPal for Payout Processing

Bold is capable of processing payouts through your PayPal account. You would interact with the Bold system as usual and for recipient who opt to receive payouts through PayPal, the Bold system would be able to process via an integration with PayPal.

If you do not have a PayPal account already, set up a Business Account and link your company's bank account to PayPal.

The Bold/PayPal integration involves a required step of granting the Bold system API permissions to initiate payouts through your PayPal account and an optional step of enabling Bold agents to initiate funds transfer from your bank account to your PayPal in order to fund the payouts. You may skip the optional step if you would prefer to manage your PayPal balance yourself or if your PayPal account is expected to receive funds sufficient to process the payouts.

 

Granting API Permissions to Bold (required)

  1. Log in to your PayPal account
  2. Navigate to "Tools > All Tools > API Credentials"
  3. Select "Pre-built payment solution > Grant API permission"
  4. If prompted, verify your phone number
  5. Select "Add New Third Party"
  6. For "Third Party Permission Username" type in "pb_api1.gobold.com"
  7. Click "Lookup"
  8. You should see "Organization: Bold Financial Technologies"
  9. Check the box for "Obtain Your PayPal account balance"
  10. Check the box for "Obtain information about a single transaction"
  11. Check the box for "Initiate transactions to multiple recipients in a single batch"
  12. Check the box for "Search your transactions for items that match specific criteria and display the results"
  13. Click "Add" to save your selections

 

It should look like this:

 

 

Add a Bold User Login (required to enable Bold to initiate bank transfers to fund payouts)

  1. Log in to your PayPal account
  2. Navigate to "Profile > Profile and settings > My Settings > Manage users > Get Started"
  3. Press "Add User" and fill in the necessary information
  4. User's first and last name: "Bold User"
  5. User ID (twice): "[YOUR-COMPANY-NAME]bold" (max 16 characters; no special characters)(for example: "acmebold")
  6. Type in Password (twice): [PASSWORD] (create a hard-to-guess password and save it to be communicated to Bold agent)
  7. Check the box for "Accounting: Add money to account"
  8. Press "Save" to save your information

 

It should look like this:

 

Upon completion, communicate the User ID and Password to your Bold representative.

 

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