Understand Crypto Payment
Learn how cryptocurrency payments flow securely using the PayCrypt API.
Cryptocurrency payments are reshaping global commerce by enabling fast, secure, and transparent value transfer through decentralized blockchain networks. PayCrypt provides the infrastructure for businesses to leverage these benefits without the operational complexity of managing blockchain transactions directly.
This section outlines how payments are processed securely and efficiently using the PayCrypt platform.
Checkout Session Flow
Unique Address Generation per Transaction
For every checkout session, PayCrypt generates a dedicated cryptocurrency address. Each address is linked directly to the specific payment request, ensuring clear identification and traceability for every transaction.
Customer Wallet Payments
Customers can make payments using any compatible cryptocurrency wallet, including browser-based wallets (such as MetaMask) or mobile wallets.
The process involves signing and broadcasting a transaction to the unique address provided for that session.
QR Code Payment Option
Each payment request can also include a QR code that contains the payment address and amount, allowing customers to initiate payments easily through their mobile wallets by scanning the code.
Payment from Centralized Exchanges
Customers may choose to pay directly from their accounts on centralized cryptocurrency exchanges. Whether initiated through manual address entry or QR code scanning, payments are sent directly to the uniquely generated address associated with the merchant's order.
Payment Handling and Settlement
Secure Wallet Management and Payment Detection
PayCrypt uses secure, deterministic wallet generation for each merchant account. For each incoming payment, funds are held in these system-generated wallets, allowing for accurate tracking and reconciliation.
Scheduled Merchant Payouts
Collected payments are aggregated and settled every three days through automated payouts to the merchant’s registered business wallet. This approach simplifies fund management while providing predictable, reliable settlement cycles for merchants.
Push Payment Model
Unlike traditional payment methods that rely on a "pull" mechanism (where funds are withdrawn from a customer's account), cryptocurrency payments operate on a push payment model. This means:
- The customer actively initiates and authorizes each transaction.
- Funds are transferred only with explicit approval from the customer's wallet.
- No external party can withdraw funds from the customer’s account without consent.
This model enhances security, reduces fraud risk, and ensures full transparency in the payment process.
Benefits of Accepting Crypto Payments with PayCrypt
- Reliable, on-chain transaction processing
- Secure, wallet-based payment authorization
- Automated payment detection and reconciliation
- Scheduled, consolidated payouts to merchant accounts
- Support for multiple blockchain networks and stablecoins
- Global accessibility without reliance on traditional banking infrastructure
By leveraging PayCrypt’s payment gateway, businesses can seamlessly integrate cryptocurrency acceptance into their operations while ensuring a secure, compliant, and user-friendly payment experience.