Crypto FAQ

Cryptocurrencies create unprecedented opportunities for companies that want to attract new customers worldwide, including those where it's impossible to pay with bank cards. Crypto consumers are one of the fastest-growing segments in the world. There are over 300 million crypto holders worldwide. Over 70% of crypto enthusiasts are spending instead of holding, spending twice as much as those using traditional currencies.

Crypto payments are increasingly becoming popular among companies and individuals because of their security, anonymity, and speed of transactions. Credit card systems take a few days to process, whereas cryptocurrency processes immediately and give you much quicker access to funds. It's more efficient than traditional payment methods because fewer parties are involved in the payment process. Additionally, merchants do not experience fraud or chargeback impacts by accepting crypto as a payment option.

No. With Segpay, you can accept cryptocurrency from your customers, which does not affect the merchant’s payout. Crypto works the same as any other accepted payment type. Merchants are paid out in their distribution currency.

Accepting cryptocurrency with Segpay is completely secure and KYC/AML compliant.

When your consumer pays with crypto, the cryptocurrency is immediately converted into your base price point currency. You do not need a crypto wallet.

As long as your Segpay Merchant account is enabled for crypto, you can configure your pay page to display crypto as a payment option to your customers. Contact your Sales Rep if you want your Merchant account enabled for crypto.

All crypto transactions are converted into your price point currency and paid out to you based on your Merchant Portal Payout Configuration. For more information about Payout Configuration, check out our guide: Setting Up Your Payouts

If you want to add crypto as a payment option to your Segpay pay page, a couple of things need to be in place:

1. Merchant Account Enabled for Crypto

Segpay will need to enable your merchant account for crypto. Contact your Sales Rep to do this.

2. Package Enabled for Crypto

You must enable at least one of your packages for crypto. Doing this will show crypto as a payment option on your payment page. Check out our guide: Crypto Getting Started Guide

There are no transaction fees. Segpay has a processing/settle fee per transaction.

At this time, the supported cryptocurrencies are:

• Bitcoin - BTC

• Bitcoincash - BCH

• DASH - DASH

• Ethereum - ETH

• Litecoin - LTC

• ProperT - PROPT

• Tether - USDT

• Tron - TRX

• USD Coin - USDC

• XRP - XRP

More cryptocurrencies will be added as the market evolves and demand increases.

No. Consumers can’t use crypto for recurring payments because it’s not supported. Consumers may only use crypto for one-time payments.

No. Consumers aren’t able to use crypto to pay for cross-sells at this time due to the way crypto payments are handled.

No. All cryptocurrency transactions are final.

Yes. You will see crypto as a payment type in the following reports:

• Transaction Summary

• Transaction Detail

• Sales by Country

• Invoiced

• Detail Ledger

• Daily Revenue

• Statements

The consumer will have to select their wallet and the type of cryptocurrency they want to use to make their purchase. The Segpay pay page will show the dollar amount conversion for the selected cryptocurrency.

When the consumer clicks the Cancel payment button, they will see a decline page.

The code is: SPXXXX: Transaction Cancelled by Consumer

The transaction ID is: SPDECLINE

A postback is sent.

All wallets are supported.

At this time, the supported cryptocurrencies are:

• Bitcoin - BTC

• Bitcoincash - BCH

• DASH - DASH

• Ethereum - ETH

• Litecoin - LTC

• ProperT - PROPT

• Tether - USDT

• Tron - TRX

• USD Coin - USDC

• XRP - XRP

More cryptocurrencies will be added as the market evolves and demand increases.

You have up to 15 minutes to complete the transaction because the exchange rate isn’t guaranteed after that time. The payment page will close after 15 minutes.

Yes. You can cancel the payment on the Segpay payment page by clicking the Cancel Payment button. However, you can't cancel the payment once you've sent it from your crypto wallet.

Consumers are required to enter their email address in the event Segpay needs to send funds back due to a late payment or underpayment. If this happens, Segpay will contact the consumer for their wallet address to send the crypto payment back.

You can check the status of your crypto payment in the Segpay Consumer Portal.

1. Go to the Consumer Portal: https://cs.segpay.com/

2. Enter your Purchase ID and email address.

3. Click Look Up My Purchase.

4. Click the eye icon to view the transaction details for your crypto purchase.

5. Look for the the Crypto Status column and click the Check Status button.

You can run a search for crypto payments in the Segpay Consumer Portal by entering your Purchase ID and email address.

No. Due to the nature of blockchain technology, you cannot stop a payment from occurring. All cryptocurrency transactions are irreversible once you send a crypto payment from your wallet. Only the recipient of the crypto payment can control the funds they receive from you.

It means your crypto transaction is considered a late payment, and the merchant cannot accept it.

You may be able to request a refund in the Segpay Consumer Portal.

1. Enter your Purchase ID and Email address.

2. Click the eye icon for the transaction to view the details.

3. Click the info icon next to the Refund Payment header.

4. Click the Enter Blockchain Address link.

5. Enter your Wallet address and click the Submit button.

You will see this error message when you’ve selected the wrong wallet or the wrong cryptocurrency. The wallet and the currency must be a matching pair.