How to Set Up Recurring Cross-Border Supplier Payments with MoneyBadger

Mar 25

A plain-language guide to completing your Written Mandate Instruction — even if you've never touched crypto before.

If you're a South African business paying overseas suppliers, you already know the pain: slow SWIFT transfers, unpredictable forex spreads, and the constant friction of correspondent banking. MoneyBadger's cross-border supplier payments service offers a faster, more cost-effective alternative — you pay us in Rands via EFT, and we handle the conversion and delivery to your supplier's wallet.

To get started, you'll need to complete a Written Mandate Instruction form. If you're not familiar with cryptocurrency, some of the terms on that form might feel unfamiliar. That's exactly what this guide is for. We'll walk you through every field in plain language, explain the terms that trip people up, and show you what to ask your supplier so you can fill everything in with confidence.

What the Mandate Does — and Why It Exists

The Written Mandate Instruction (Schedule A) is your standing instruction to MoneyBadger, authorising us to process recurring outbound payments to a named supplier.

Its purpose is to fast-track your payments. Without a mandate, every single supplier payment would need a fresh written instruction, compliance review, and approval cycle. With a mandate in place, you can simply send us a Rand EFT and we'll convert and pay out to your supplier's pre-approved wallet — no back-and-forth required.

The mandate also sets safety constraints on the arrangement. It locks in the key details — who the supplier is, where the funds go, what the payment is for, and a maximum payment amount — so that every transaction is predictable, traceable, and protected against errors or unauthorised changes.

If any of those locked-in details change (different supplier, different wallet, different purpose), the mandate automatically terminates and you submit a new one. This keeps things clean for both compliance and your own peace of mind.

How Payments Work Once Your Mandate Is Active

Once your mandate is approved, making a supplier payment is remarkably simple:

Option 1: Just pay us. Send a ZAR EFT to MoneyBadger for the amount you want to pay your supplier (plus our fee). We convert the Rands at the best available market rate and deliver the crypto to your supplier's wallet. Done.

Option 2: Ask for a quote first. If you want to know exactly how much to send, request a quote from us. We'll give you a precise ZAR amount that covers the supplier payment and our fee. You pay that amount, and we process the payment.

What about the exchange rate? We always source the best market rate at the time of payment. If you've sent slightly more than needed — whether because the rate moved in your favour or you rounded up — the surplus stays in your MoneyBadger account. You can use it toward future payments or withdraw it.

Building a balance. Over time, you can also use your account to build up a store of crypto assets, which we can manage on your behalf. This can be useful if you want to pre-fund future payments, take advantage of favourable rates, or simply hold a balance for operational flexibility.

Before You Fill In the Form: A Conversation With Your Supplier

Here's something important to understand: your supplier's setup determines most of what you put on the form. The currency, network, wallet address, and exchange details all come from the supplier's side — not yours. You're paying in Rands; they're choosing how to receive.

Before you sit down with the form, ask your supplier these questions:

What currency do you want to receive? The most common options are USDT (Tether) and USDC (USD Coin) — both are "stablecoins" pegged to the US dollar, so 1 USDT = $1 and 1 USDC = $1. If they want to receive Bitcoin, that's also possible, but it works differently (more on that below).
Which exchange or wallet app do you use? If they use an exchange like Binance, Luno, Yellow Card, or VALR, they'll have a hosted account that can generate a receiving address. If they use a wallet app like MetaMask, Trust Wallet, or Phantom, they manage their own funds directly. Either way is fine — we just need to know.
What is your wallet address on that network? This is a long string of letters and numbers — like a bank account number for crypto. They'll copy it from their exchange or wallet app. It must be the address for the specific currency and network you've agreed on.
If they use an exchange: what is the name of the exchange, and what is their account identifier? The account identifier is usually their email address, user ID, or account number at the exchange. This helps us (and the receiving exchange) match the payment to the right person.

Their answers to these questions will fill in most of the form for you.

A Quick Glossary (for the Non-Crypto-Native)

If this is your first encounter with crypto payments, here are the key terms you'll see on the form — in plain English:

Stablecoin — A type of cryptocurrency designed to hold a stable value, usually pegged 1:1 to the US dollar. The two most widely used stablecoins are USDT (issued by Tether) and USDC (issued by Circle). When your supplier receives 100 USDT, it's worth $100. They can hold it, spend it, or convert it to their local currency.

Network (also called "blockchain" or "chain") — Think of this as the rail system that carries the payment. Just like you might send a bank payment via SWIFT or via a local clearing system, crypto payments travel over different networks. The same stablecoin (say, USDT) can exist on several different networks — Tron, Ethereum, Solana, Polygon, and others. Each network has different fees and speeds, but the important thing is: the sender and receiver must be on the same network. If your supplier gives you an address on the Tron network, you must send on Tron. Sending on the wrong network can result in permanent loss of funds.

Wallet — Where crypto is stored. This could be an app on a phone, a web-based account, or a hardware device. There are two types:

Exchange wallet (custodial): Hosted by a company like Binance or Luno. The company holds the funds on your supplier's behalf — similar to a bank account. Easier to set up, and the exchange handles security.
Self-custody wallet (non-custodial): An app like MetaMask, Trust Wallet, or Phantom where your supplier controls their own private keys. No middleman — but they're responsible for their own security.

CASP — Stands for Crypto Asset Service Provider. This is the South African regulatory term for any company that provides crypto-related services — exchanges, custodial wallets, payment processors. If your supplier receives funds through an exchange like Binance, Luno, or VALR, that exchange is the CASP. If they use a self-custody wallet, there is no CASP on the receiving end.

CASP Account Identifier — If your supplier uses an exchange, this is how we identify them at that exchange. It's usually their email address, user ID, or account number — whatever the exchange uses to identify their account. Your supplier can find this in their account settings or profile page.

Wallet Address — A long string of letters and numbers that identifies where crypto should be sent. Think of it as a bank account number, but for a specific cryptocurrency on a specific network. Your supplier copies this from their exchange or wallet app. Never type it manually — always copy and paste. A single wrong character means the funds go to the wrong place, and crypto transfers cannot be reversed.

Schedule A: The Recurring Transaction Instruction

Here's what you need to fill in, field by field.

Payment Type

Select Recurring Supplier Settlement — this is the standard option for ongoing supplier payments. If your use case is different (for example, a licensing fee or royalty payment), select "Other" and describe it.

Fixed Payment Amount

Enter a number here — this is the maximum amount (in the payment currency) that can be processed in a single payment under this mandate. It's not asking whether the amount is fixed — it's asking you to set a ceiling.

Any payment up to this maximum will be processed without requiring a new instruction. If you need to make a payment above this amount, you'll need to submit a new mandate with a higher limit.

For example, if you set the maximum at $5,000 and send us ZAR to cover a $3,200 payment, that's fine — it's under the ceiling. But a $6,000 payment would need a new mandate.

Setting a sensible maximum protects you — it means there's always a hard cap on what can be paid out in any single transaction.

Payment Currency and Network

This is where you specify what your supplier wants to receive and how it gets delivered. It has two parts:

Currency — the type of crypto asset. The most common choices for supplier payments are:

USDT (Tether) — a US dollar stablecoin. The most widely used globally, especially across Africa and Asia.
USDC (USD Coin, by Circle) — another US dollar stablecoin. Preferred in more regulated or institutional settings.
BTC (Bitcoin) — not a stablecoin; its value fluctuates. Used when the supplier specifically wants Bitcoin.

Network — the blockchain rail the payment travels on. This is chosen based on what your supplier's wallet or exchange supports. Common networks include:

Tron (TRC-20) — very low fees, widely supported, popular for USDT transfers in Africa and Asia
Ethereum (ERC-20) — the original smart contract network, widely supported but fees can be higher
Solana — very fast and low-cost, growing in popularity
Polygon — low fees, good for smaller amounts
Base — newer, low-cost, supported by Coinbase ecosystem

How do you choose? You don't need to be an expert. Ask your supplier which currency they want and which network they can receive on. Their exchange or wallet app will show them the available options. Write down exactly what they tell you — for example, "USDT on Tron" or "USDC on Solana."

Important: The currency and network must match between sender and receiver. Sending USDT on Ethereum to an address that expects USDT on Tron will result in lost funds.

Helpful resources for your supplier:

Purpose / Nature of Transaction

A short description of why you're making this payment — for example, "Supplier payment for imported goods" or "Monthly SaaS subscription fee." This is required for compliance and regulatory reporting.

Description of Underlying Goods / Services

More detail on what you're actually paying for. Examples: "Electronic components for assembly," "Cloud hosting and infrastructure services," "Raw materials — textiles." The more specific you are, the faster your mandate will be processed.

Recurring Frequency

How often do you typically pay this supplier? Choose from weekly, fortnightly, monthly, or specify a custom frequency. This sets the expected rhythm of payments under the mandate.

Mandate Commencement and End Dates

When the mandate should take effect, and optionally when it should end. If there's no fixed end date (for example, an ongoing supplier relationship), you can leave the end date blank — the mandate continues until either party terminates it in writing.

Source of Funds

Where the Rands used for this payment come from. Typical answers include "Operating revenue," "Business trading income," or "Investment proceeds." This is a standard anti-money laundering requirement.

Declarations / Regulatory Information (BOP Code)

Every cross-border payment from South Africa must be reported to the South African Reserve Bank (SARB) using a Balance of Payments (BOP) category code. This is a standard requirement for any international payment — your bank asks for one too when you make a SWIFT transfer. The BOP code tells the Reserve Bank the reason for your payment.

Here are the most common codes for supplier payments:

BOP Code	Description	Use when...
101	Advance payments for imports	You're paying for goods before they're shipped
102	Payments for goods received	You're paying for goods already delivered
401	Technical, professional & management services	You're paying for services (consulting, design, development, etc.)
404	Computer and information services	You're paying for software, hosting, IT services
406	Royalties and licence fees	You're paying for intellectual property, licensing

If none of these seem right, or you're unsure, these resources list all available codes:

Your accountant will likely know the right code for your business. Alternatively, our compliance team is happy to help — just describe what you're paying for and we'll point you to the right code.

Schedule B: Beneficiary (Supplier) Information

If your supplier is new to MoneyBadger — meaning we haven't processed a payment to them before — you'll also need to complete Schedule B. This collects the information required under the Travel Rule.

If your supplier is already on file with us, you can skip this section (unless we request updated details).

What Is the Travel Rule?

The Travel Rule is an international anti-money laundering standard (FATF Recommendation 16) that applies to crypto asset transfers — much like the rules that require banks to include sender and receiver details on a SWIFT payment. It requires crypto asset service providers (like MoneyBadger) to collect and share information about who is sending and receiving funds.

In practical terms, it means we need to know who your supplier is and where the funds are going. This is no different from what your bank already asks for when you make an international payment — it's just applied to crypto rails instead of traditional banking rails.

Further reading:

Beneficiary Legal Name

The full legal name of the supplier — whether that's a registered company or an individual.

Payment Currency & Payment Network

Same as in Schedule A — the stablecoin (e.g. USDT, USDC) and the network (e.g. Tron, Ethereum, Solana) the supplier will receive on. See the guidance above.

Wallet Type

Your supplier needs to tell you which of these applies:

Self-custody — They use an app like MetaMask, Trust Wallet, Phantom, or a hardware device like Ledger. They control their own private keys. No company holds the funds on their behalf. If this is the case, you only need their wallet address — no CASP details are required.

Exchange wallet — They have an account at a crypto exchange like Binance, Luno, VALR, Yellow Card, Coinbase, or similar. The exchange holds the funds on their behalf. If this is the case, you'll also need to fill in the CASP name and account identifier below.

How does your supplier know which one they have? Simple question to ask them: "Did you sign up for an account at a company to manage your crypto, or did you download a wallet app where you control everything yourself?" If they signed up at a company (like Binance), it's an exchange wallet. If they downloaded an app and wrote down a "seed phrase" or "recovery phrase," it's self-custody.

Beneficiary Wallet Address

The exact blockchain address your supplier wants to receive funds at. This is a long string of letters and numbers — it looks something like TJfHgV9y4YBTcKzA8mXnHqPB2uXzK14pVr (Tron) or 0x742d35Cc6634C0532925a3b844Bc9e7595f2bD38 (Ethereum).

Your supplier copies this from their exchange or wallet app — usually by tapping "Receive" or "Deposit," selecting the correct currency and network, and copying the address that appears.

Triple-check this address. Always copy and paste — never type it manually. Crypto transfers are irreversible once sent. If the address is wrong, the funds cannot be recovered.

Beneficiary CASP Account Identifier

Only required if your supplier uses an exchange wallet.

This is how we identify your supplier at their exchange. It's typically their email address, user ID, or account number — whatever the exchange uses to identify their account.

Your supplier can usually find this in their exchange's account settings, profile page, or by searching "account ID" in the exchange's help centre. If you're unsure, just ask your supplier: "What email or account number are you registered with at [exchange name]?"

Beneficiary CASP Name

Only required if your supplier uses an exchange wallet.

Simply the name of the exchange — for example, Binance, Luno, VALR, Yellow Card, Coinbase, or whichever platform they use.

What If My Supplier Wants to Receive USD (Not Crypto)?

This is a common question. Stablecoins like USDT and USDC are effectively digital US dollars — they're pegged 1:1 to the dollar and can be converted to cash USD through most exchanges. So when your supplier receives 1,000 USDT, they're receiving the equivalent of $1,000 and can convert it to their local currency whenever they choose.

If your supplier specifically wants the funds in a traditional bank account in USD, then this service isn't the right fit — that's a conventional wire transfer. But if they're happy to receive digital dollars (stablecoins) that they can hold or cash out at their end, then we've got you covered.

A note on Bitcoin: If your supplier wants to receive Bitcoin specifically (rather than a stablecoin), that's also possible. The key difference is that Bitcoin's value fluctuates — it's not pegged to the dollar. We would pay out Bitcoin over the Bitcoin network. If your supplier wants the stability of USD and wants to use a Bitcoin-focused wallet, they may need to receive Bitcoin and convert it to a dollar-equivalent on their side. Talk to us and we'll help figure out the best setup.

How Your Supplier Can Get Set Up to Receive

If your supplier doesn't have a crypto wallet yet, here's a quick overview of their options:

Option 1: Exchange account (easiest for beginners)

Your supplier signs up with a crypto exchange that operates in their country, completes identity verification (KYC), and generates a deposit address for the agreed stablecoin and network. Widely used exchanges include:

Binance — global, extensive network and currency support
Yellow Card — popular across Africa, supports mobile money off-ramps
Luno — strong in South Africa, Nigeria, and several other markets
VALR — South African exchange with broad crypto support

Most exchanges also let your supplier convert stablecoins to local currency and withdraw to a bank account or mobile money — so they're not stuck holding crypto if they don't want to.

Option 2: Self-custody wallet (more control)

Your supplier downloads a wallet app and creates a wallet on the appropriate network:

MetaMask — supports Ethereum, Polygon, and many other networks
Trust Wallet — multi-chain, user-friendly
Phantom — built for Solana, also supports Ethereum and Polygon

They control their own funds directly and can convert to local currency via a P2P marketplace or exchange when needed.

What to tell your supplier

Send them this checklist:

Choose how you want to receive: Pick an exchange or download a wallet app.
Decide which stablecoin you want: USDT and USDC are the most common — both are worth $1.
Check which networks your wallet or exchange supports for that stablecoin (e.g. Tron, Ethereum, Solana).
Send back these details:
- Your wallet address (copied, not typed)
- Whether it's an exchange wallet or self-custody
- If exchange: the exchange name and your account email/ID

What Happens After You Submit

Once MoneyBadger receives your completed mandate (Schedules A and B, where applicable), our compliance team will review the details and may request additional documentation — such as a supplier invoice, proof of the underlying trade relationship, or further beneficiary identification.

We'll process one small test payment first to make sure everything is working correctly — the right wallet, the right network, the right recipient. Once that's confirmed, you're good to go.

For each payment under the mandate, you'll need to email a valid invoice or supporting documentation. You're also required to notify us immediately if any mandate details change, and to retain copies of all invoices and supporting documents for audit purposes.

MoneyBadger may delay or suspend a payment if verification and compliance checks are not yet complete — this is a regulatory requirement, not a speed bump we've added for fun.

Key Risks to Be Aware Of

The mandate includes risk disclosures that you'll acknowledge when signing. The most important ones:

Irreversibility: Once a crypto asset transfer is broadcast on the blockchain or accepted by the receiving exchange, it generally cannot be reversed, recalled, or recovered. This is fundamentally different from traditional bank transfers where chargebacks or recalls may be possible.

Accuracy is your responsibility: MoneyBadger relies on the information you provide — including wallet addresses, beneficiary details, and payment amounts — without independent verification. If a wallet address is wrong, the funds may be permanently lost and the liability sits with you. This is why we stress: always copy and paste addresses, and always confirm details with your supplier.

Indemnity: You indemnify MoneyBadger against losses arising from incorrect information or breaches of the mandate terms.

These aren't unusual provisions — they reflect the nature of blockchain-based transfers and are standard across the industry.

The Short Version

Talk to your supplier — find out what currency and wallet they want to use.
Complete the mandate — lock in the supplier, wallet, currency, network, and maximum amount.
Send us a ZAR EFT (or ask for a quote first) — any amount up to the mandate ceiling.
We do the rest — convert at the best available rate, deliver to your supplier's wallet.
Surplus stays in your account — use it for future payments, build a balance, or withdraw.

No SWIFT queues. No correspondent bank fees. No waiting days for settlement.

Ready to Get Started?

Download the Written Mandate Instruction form, fill it in with your supplier's details, and send it to our team. If you get stuck on any field — BOP codes, network choices, wallet types — reach out. We're here to make this as straightforward as possible, even if crypto is completely new to you.

Contact us: info@moneybadger.co.za | moneybadger.co.za

MoneyBadger (Pty) Ltd | FSP 53482 (in progress) | Operating under FSCA exemption as active CASP | 35 Church Street, Stellenbosch

Ben Blaine