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Can I charge fiat and accept crypto?

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Can I charge fiat and accept crypto?

Fiat to crypto:

To do so, you don’t need any extra preparations: if you’ve already set up your account and integrated with NOWPayments, your customers can already pay you in fiat.

Here’s how it works:

  1. Fiat payments are available via invoices and e-commerce CMS plugins. You can use the existing invoices or create new ones. As for the API, we haven’t enabled fiat payments in it yet, but you can create invoices using the API — they will work just like the regular ones.
  2. To pay with fiat, a customer needs to choose USD as currency at the checkout. They will be redirected to a “Buy crypto” page generated by our partner fiat provider Mercuryo.
  3. After confirming the mobile phone, the customer pays the sum. We convert it automatically to the cryptocurrency you’ve set and send it to your wallet in mere minutes. You can monitor the payment status in the Dashboard in your account.

This is it!

Note that when the customer pays the invoice with fiat, we use third-party providers to convert these funds into crypto and send them to your wallet.

Sometimes the fiat providers might ask you to pass a KYB check to keep using this feature. If this happens, contact us — we will provide you with the instructions, and the process won’t take long. Usually, in such occasions, we will contact you.

The procedure is similar to the KYC verification. We will ask you to submit the following documents:

  • Company extract or a certificate of incorporation dated within 3 months,
  • Domain ownership rights — whois/dashboard screenshot where we can see the Owner (Person/Company),
  • Director authority — Document on the appointment of Director and signature right in the company (Certificate of appointment/Memorandum of appointment directors or signatory/Power of attorney).

As soon as we receive the materials and the check is completed, we will inform you so you could continue making fiat transactions.

Customer KYC. In the Fiat-to-crypto feature, customers pay you in fiat that we further convert into crypto. Our fiat providers consider this as a cryptocurrency purchase and thus ask your customers to do a KYC check. It includes providing a photo of an ID, a selfie, and a phone number.

For more information about KYC/KYB and the list of documents required, follow this FAQ. And if you want personal assistance with fiat processing and the KYC/KYB issues, write to us at [email protected] .

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