Processing plastic cards by buying cryptocurrency.

[Artem Bryus]

Hello everyone! I want to find a PSP that works through the purchase of cryptocurrency. The client first buys the cryptocurrency and the cryptocurrency is automatically transferred to the merchant account. The client enters only the plastic card data in the payment form and that's it.

 

[Martin Everson]

Try Changelly

I am sure I have posted this response to the same question asked before on the forum. If you don't like them then use their provider to setup your own card to crypto system with simplex

Simplex - Enabling Payments, Defeating Fraud

p.s Our we gonna suddenly see a brand new user post a provider no one has ever heard off?

 

[Artem Bryus]

Try Changelly

I am sure I have posted this response to the same question asked before on the forum. If you don't like them then use their provider to setup your own card to crypto system with simplex

Simplex - Enabling Payments, Defeating Fraud

p.s Our we gonna suddenly see a brand new user post a provider no one has ever heard off?

I know 2 such processing, but I asked a question not for advertising) I wonder who gives such a service. I did not find your post on this topic ....

 

[Martin Everson]

Here was my original post to same question asked before. Just add widget to website. I would like to know of others that provide the service too. No offense intended in my comment....apologies.

Crypto Pay ?

 

[cardbit]

To: Artem Bryus,

You want to specify your business first. The fact that its cryptocurrency does not prevent from no service received chargebacks.

 

[void]

Changelly looks like a nice service but having current purchase rate at 2956 while kraken has 2882 at the same time and additional fees as follows:
Extra charges apply in addition to the rate provided at the checkout
- Changelly fee 5%
- Simplex fee 5% (min $10)

It's insanely expensive - who uses such services?
Let say 2% maybe 3% with the fair rate would be acceptable.

 

[Martin Everson]

Would be good to know other providers . Any that are cheaper would be good. However I suppose when there are not many providers you can pull an MT in terms of fees .

 

[cardbit]

The alternative is not to use cards and send wires. Cards are reversable and no psp would want to take such risks at 2%

 

[Martin Everson]

Crypto is so high risk....lol. I would charge up to 10% - that's what those damn crypto ATM's are charging for card payments .

 

[Artem Bryus]

Here was my original post to same question asked before. Just add widget to website. I would like to know of others that provide the service too. No offense intended in my comment....apologies.

Crypto Pay ?

I know that this service works at DALONGPAY , but recently this company did not work correctly.

 

[Artem Bryus]

To: Artem Bryus,

You want to specify your business first. The fact that its cryptocurrency does not prevent from no service received chargebacks.

I only work with high risk. With companies in the field of forex, crypto-forex. For them, a 5-6% transaction fee is normal.

 

[Martin Everson]

I know that this service works at DALONGPAY , but recently this company did not work correctly.

Looked at them and it looks legit. What went wrong? I see they are based in Estonia but when I go to buy page it says "Operation temporarily not available".

They are charging 8% for card payments

Fees & Limits

 

[cardbit]

I think they got into idea of what unlicensed forex is really about ))

 

[Artem Bryus]

Looked at them and it looks legit. What went wrong? I see they are based in Estonia but when I go to buy page it says "Operation temporarily not available".

They are charging 8% for card payments

Fees & Limits

They started having problems with the site. We immediately stopped working with them.

 

[Artem Bryus]

I think they got into idea of what unlicensed forex is really about ))

You are right) But they process us for 6%)

 

[Martin Everson]

I think they got into idea of what unlicensed forex is really about ))

Oh I see.

 

[cardbit]

Artem, how is 2% premium to normal forex acquiring prices suppose to help them? They will get a few chargebacks they would not be able to dispute and it will eat all their profit. The problem with forex is that is a deposit, its not a good or service that can be received within reasonable timeframe. Customers can technically dispute their deposits even after 180 days, claiming they never received a service and by the service they will mean - Profit.

 

[void]

The alternative is not to use cards and send wires. Cards are reversable and no psp would want to take such risks at 2%

I can understand this point of view however with effective 6%-10% fees (direct fees and unfair rates together) it's impossible to beat the market. Ergo none of your customers will live for long, that's the problem of your business long-term. Without hunting a lot of new souls it's hardly sustainable.
Cardbit btw is also too expensive... shame

 

[void]

Crypto is so high risk....lol. I would charge up to 10% - that's what those damn crypto ATM's are charging for card payments .

Exactly - look at gambling industry, do you think it's less "risky" than crypto. Huge part of the industry stands on cards without any additional costs. Maybe this is not a fair example for some reasons but you probably got my point.
I can't see why it should be any different from selling for example software licenses.

 

[Artem Bryus]

Artem, how is 2% premium to normal forex acquiring prices suppose to help them? They will get a few chargebacks they would not be able to dispute and it will eat all their profit. The problem with forex is that is a deposit, its not a good or service that can be received within reasonable timeframe. Customers can technically dispute their deposits even after 180 days, claiming they never received a service and by the service they will mean - Profit.

With proper work, the percentage of chargebacks is no more than 3-4 percent. All sums of chargebacks are minus from the merchant's money. In this case, this business lives even very well) I know PSPs who have been working in the market for more than 8 years.