PANews reported on December 29th that Gate Pay has officially launched its institutional account feature, providing merchants and institutional users with a one-stop, multi-tiered account management tool based on virtual accounts. Institutions can complete multi-customer access, transaction processing, and related fund operations within a unified account framework without needing to build complex accounting systems, significantly improving operational efficiency and reducing technology costs.
Sub-accounts feature clear and independent ownership of permissions, allowing institutions to create and manage them uniformly via API. Sub-accounts can directly act as payment recipients for transactions and support operations such as exchange, instant exchange, settlement, withdrawal, and refunds, enabling flexible allocation and efficient distribution of internal funds. Combined with a robust permission system, Gate Pay institutional accounts also provide a centralized management portal, allowing the main account to view sub-account balances, transaction history, and order status.
In the future, Gate Pay will take the real business scenarios and compliance frameworks of merchants as its starting point, and continue to iterate the institutional account system to provide more robust and sustainable basic support for platform-based and large-scale businesses.
