Normally, the on-chain wallet will generate a mnemonic phrase (this is another form of the private key).
1. The mnemonic phrase consists of 12 English words. The mnemonic phrases are easy for the user to remember or back up. The mnemonic phrase is to be read from left to right, first row to second row. The sequence of the phrase is paramount as this must be accurate when noted down and for confirmation on the wallet.
2. Once the mnemonic phrase is generated, users need to back up immediately and properly keep their phrase secure to prevent theft or loss. The application will prompt the user to delete the mnemonic phrase off the device following confirmation therefore the user must note down the phrase prior.
3. If the user forgets the on-chain wallet password, he can use the backup mnemonics to re-import the HyperPay on-chain wallet and reset the wallet password.
HyperPay does not store these mnemonic phrases and cannot retrieve it if a user loses this information.
*HyperPay wallet only supports Mnemonic phrase backup.