Onchainpay.io

What is Onchainpay

Onchainpay is a cryptocurrency payment gateway designed for businesses to accept and send digital currency payments. Its core purpose is to provide an all-in-one platform for managing crypto transactions securely. The platform allows merchants to generate invoices in fiat currencies, which are then paid by customers using various cryptocurrencies at a real-time exchange rate. This simplifies the process for businesses that want to tap into the growing crypto market without directly handling the complexities of digital assets. Onchainpay is operated by Broex UAB, a company registered and established under the laws of Lithuania, ensuring compliance with EU regulations.

Onchainpay Features

• Multi-Currency Support: Onchainpay supports a wide range of popular cryptocurrencies and networks, including Bitcoin, Ethereum, Tether, Solana, Tron, and USD Coin.
• Bill in Fiat Currencies: Businesses can create invoices in traditional fiat currencies. The system automatically calculates the equivalent amount in cryptocurrency for the customer at the time of payment.
• Optimized Payment Pages: The platform provides high-conversion payment pages that have been tested for user experience, making the payment process smooth for customers.
• Instant Deposits: Funds are credited to the business's account immediately after a transaction is confirmed on the blockchain, eliminating delays.
• Crypto Withdrawals: Users can withdraw their crypto funds without daily limits. Withdrawals can be processed manually or automated via the API.
• Fiat Settlement: Businesses can choose to convert their received crypto into fiat currency and have it deposited directly into their bank accounts, reducing exposure to price volatility.
• API Integration: A flexible API allows for deep integration into existing business processes, websites, and applications. The company provides comprehensive documentation and support for setup.
• E-commerce Plugins: Onchainpay offers plugins for popular e-commerce platforms, which simplifies the integration process for online stores.
• Recurring Payments: The platform supports subscription-based billing through a smart contract system, requiring customers to have a web3 wallet.
• Business Wallet: An integrated wallet allows businesses to receive payments, store funds securely, and manage finances with detailed transaction insights.
• Comprehensive Analytics: Dashboards and data export options provide valuable insights into transaction history and financial performance.
• Cross-chain Exchange: Users can exchange one cryptocurrency for another within the platform, for example, converting Bitcoin to a stablecoin like USDT to avoid volatility.
• Orphan Transaction Recovery: A unique feature that helps recover funds sent in the wrong coin to a specific address, which can be done with a single click.
• Know Your Transaction (KYT): An anti-money laundering (AML) solution that monitors transactions in real-time to detect and prevent fraud.

Onchainpay Pricing Plans

Onchainpay operates on a custom pricing model tailored to the specific needs and transaction volume of each business. There are no predefined public pricing tiers. Businesses interested in using the service must contact the Onchainpay team directly to discuss their requirements and receive a personalized quote. This approach is common for payment gateways handling significant volume, as it allows for flexible fee structures based on the business's scale and industry.

Onchainpay Free Plan

Onchainpay does not publicly advertise a free plan. The service is designed for businesses that require a robust payment processing solution. However, prospective clients can contact the sales team to request a demo of the platform or inquire about a potential trial period to evaluate its features and integration capabilities before committing to a plan.

How to use Onchainpay

1. Contact Onchainpay: The first step is to get in touch with the Onchainpay team through the contact form on their website to discuss your business needs.
2. Onboarding: Once you agree on the terms, the Onchainpay team will guide you through the onboarding and account setup process.
3. Integration: Choose your integration method. You can use their comprehensive API for a custom setup or install a pre-built plugin if you use a popular e-commerce platform.
4. Configuration: Set up your payment tools. You can generate individual invoices, create payment orders, or use static wallet addresses to receive funds.
5. Accept Payments: Once integrated, you can start accepting cryptocurrency payments from your customers worldwide.
6. Manage Funds: Use the Business Wallet to view your balance, track transactions, and perform actions like exchanging crypto for fiat or withdrawing funds to an external wallet or bank account.

Pros and Cons of Onchainpay

Pros:

• Wide Cryptocurrency Support: Accepts a large variety of popular coins and tokens.
• Fiat Settlement Option: Allows businesses to avoid crypto volatility by receiving funds in fiat.
• Instant Fund Access: Deposits are credited immediately, and withdrawals are unlimited.
• Developer-Friendly: Offers a flexible API and e-commerce plugins for easy integration.
• Unique Recovery Feature: The orphan transaction recovery tool is a valuable feature for mitigating customer errors.
• Security Focused: Compliant with EU regulations and includes features like 2FA, IP whitelisting, and KYT.

Cons:

• No Transparent Pricing: Businesses must contact sales for a quote, which can slow down the decision-making process.
• Requires Technical Integration: While plugins are available, a full custom integration requires developer resources.
• Custodial Service: Like most payment gateways, it is a custodial service, meaning you entrust them with your funds until withdrawal.

Onchainpay Integrations

Onchainpay is designed for easy integration with various business systems. While a specific list of named integrations is not provided, the service emphasizes compatibility with popular platforms through two main methods:

• E-commerce Plugins: Onchainpay offers plugins for the most widely used e-commerce platforms, such as WooCommerce, Shopify, Magento, and PrestaShop. These plugins allow online merchants to add crypto payment options to their checkout process with minimal technical effort.
• API Integration: For custom websites, applications, and complex business processes, Onchainpay provides a robust API. This allows developers to integrate payment functionalities directly into their existing software infrastructure.

Onchainpay Alternatives

• BitPay: One of the oldest and most well-known crypto payment processors. It offers similar services, including fiat settlement and a crypto debit card, but may support fewer altcoins compared to newer platforms.
• CoinPayments: Known for supporting a very large number of cryptocurrencies. It is a popular choice for businesses wanting to offer maximum payment flexibility to their customers. It offers lower fees but can be less polished in its user experience.
• Coinbase Commerce: Backed by the major exchange Coinbase, it offers a non-custodial payment solution, meaning merchants have full control over their private keys. It is easy to set up but has fewer advanced features compared to Onchainpay.
• NOWPayments: A crypto payment gateway that focuses on simplicity and a wide range of supported coins. It offers plugins, an API, and features like recurring billing and fiat settlement.

Onchainpay API

Yes, Onchainpay provides a comprehensive API for developers. The API is a central feature of their service, allowing businesses to automate payment processing, generate invoices, manage withdrawals, and integrate Onchainpay's functionality directly into their applications and websites.

To get an API key, you must first register for an account and complete the onboarding process. The API documentation and keys are then made available to you through your business dashboard. The support team is available to assist with the integration process.

Example API Call (Conceptual - for creating an invoice):

{
  "method": "create_invoice",
  "params": {
    "order_id": "YOUR-ORDER-123",
    "amount": 100.00,
    "currency": "USD",
    "description": "Payment for Order #123",
    "redirect_url": "https://yourstore.com/success",
    "callback_url": "https://yourstore.com/api/callback"
  },
  "api_key": "YOUR_API_KEY"
}

Onchainpay Affiliate Program

There is no public information available on the Onchainpay website regarding a formal affiliate or referral program. Businesses or individuals interested in partnership opportunities are encouraged to contact the Onchainpay team directly through their email or contact form to inquire about potential collaboration, referral bonuses, or becoming a partner.