The questions merchants ask before switching the local-currency option on.
- What is a fiat on-ramp?
- Fiat just means normal government money, like dollars, euros or pesos. An on-ramp is the doorway that turns that money into digital money. Your customer pays in their own currency, the on-ramp converts it, and you are paid in stablecoins.
- Can a customer pay if they have never used crypto?
- Yes. They pay from the bank account or payment app they already use at home. They do not open a crypto app, buy a coin or set up a wallet. The conversion happens behind the payment page.
- Which local currencies can customers pay in?
- Vietnamese dong, Brazilian real, Indonesian rupiah, Philippine peso, Mexican peso, UAE dirham, Malaysian ringgit, Chilean peso, Peruvian sol, Ghanaian cedi and the euro, each with the local banks and wallets people actually use.
- Do customers pay by card or by bank transfer?
- Bank transfer or a local payment app, depending on the country. In Vietnam that includes MoMo, ZaloPay and Viet QR. These are what people use every day in these markets, and they succeed where a card is often declined.
- Who handles the local money, and are they licensed?
- A licensed payment partner handles the fiat leg in each country, because moving local currency is a regulated business and should be done by a firm licensed to do it there. AIO settles you in stablecoins once the money arrives.
- What do I receive when a customer pays in their own currency?
- Stablecoins, in USDT or USDC. These are digital tokens worth about one US dollar each, so the amount you were paid does not move while you wait. You never hold anything whose price changes.