sikobaPay User Documentation

sikobaPay User Documentation

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›Getting Started

Getting Started

  • Welcome
  • Vocabulary

Authentication

  • Sign up
  • Phone number verification
  • Change password
  • Sign in
  • Register a new device
  • De-register device
  • Read-only mode

Main Screens

  • Balance screen
  • Menu screen

Connections

  • Connections screen
  • Add new connection

Credit Lines

  • Credit lines screen
  • Add new credit line

Conversion Permits

  • Set up conversion profile
  • Grant a conversion permit
  • Revoke a conversion permit

Payments

  • Make payment
  • Request payment
  • IOU settlement
  • Full IOU settlement
  • Partial IOU settlement

Settings

  • Settings screen
  • Change user preferences
  • Change phone number
  • Edit profile

QR Codes

  • QR codes
  • Find connection
  • Find credit line
  • Find IOU
  • Find user

Sikoba Tokens

  • Sikoba Tokens
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Vocabulary

IOU payment

A promise of delayed payment; an IOU of 50 EUR at 30 days means that the debtor will pay the amount thirty days later from the moment of transacting.

Connection

A connection means that two users know each other and might be willing to transact with each other on credit. A connection request initiated by one user must be accepted by the other user for the connection to become effective.

Credit line

A credit line represents a relationship of trust in which one user enables another user to pay with an IOU. Each credit line is configurable individually: you can select a preferred currency, set the maximum amount you are willing to be owed, determine the repayment target and interest rate.

Users can grant credit lines to each other:


Or users can grant one-way credit lines:

Time target

A time target is the number of days after which the debtor will have to settle the debt.

Credit conversion

Credit conversion occurs when one user enables another user to use his/her credit line to transact with his/her network. For example, A wants to buy something from C, but C does not trust A. If C trusts B, and B trusts A, and B enables credit conversion for A, then A can transact with C. As a result, A will owe B, and B will owe C.

Take a look at how this works:

Conversion profile

Default settings for conversion for a credit line; has a global max. and a single max.

Global conversion max

Determines the maximum amount of conversion credit that can be used on the credit line at any given moment.

Single conversion max

Default value to be granted to conversion permits; this value can be overridden.

Conversion permit

Allows a user to use another credit line for payments that has not been granted to him directly; granter grants a permit to a grantee, for a given max. amount and potential additional fee.

Conversion fee

Describes the extra fee that a granter of a permit can impose on all payments created with the permit that he grants.

Clearing flexibility

Clearing Flexibility is about offsetting IOUs that have different payment target dates. The higher the Flexibility, the more possibilities there are for clearing to occur.

Take a look on how clearing works:

Master key

It is a cryptographic key for protection of other keys.

Privacy level

The privacy level is a level of visibility of the user's data fields (display name, first name, last name, country, birthdate, phone number, email, city, Ethereum address) to other users. It can be:

  • private - no other user can see this attribute
  • searchable - other users can find the user by this attribute, but they cannot directly see its value
  • shared - users that already have a connection active with the user can see the attribute value. Users that are not connected can search the user by this attribute, but cannot see its value
  • visible - all users can see this attribute
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  • IOU payment
  • Connection
  • Credit line
  • Time target
  • Credit conversion
  • Conversion profile
  • Global conversion max
  • Single conversion max
  • Conversion permit
  • Conversion fee
  • Clearing flexibility
  • Master key
  • Privacy level
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