There are multiple instances in the payment flow that currencies are involved. They are:

Pricing Currencies

When you create a payment request on Crypto.com Pay, you need to specify currency and amount. That is the pricing currency, the currency in which your products and services are priced.

Crypto.com Pay calculates the exchange rate between the pricing currency and the cryptocurrency customers choose to pay; and then charges the customer with the amount needed. Hence, the pricing currency is often used for reference only, it may not be involved in the actual transaction.

Check this list for Pricing Currencies supported by Crypto.com Pay: What Are the Supported Pricing Currencies?

Payment Currencies

Payment Currencies are the cryptocurrencies that your customers can choose to pay.

The full list of Pricing Currencies supported by Crypto.com Pay: What Are the Supported Payment Currencies?

If the selected payment currency is different from the pricing currency, a conversion will be done automatically on the customers' end. The conversion rate will be based on the market rate at payment time, with no additional fees charged by Crypto.com Pay. If the payment currency is the same or equivalent to the pricing currency, then no conversion is needed. For example:

Pricing Currency

Payment Currency

Conversion Needed

EUR

CRO

Yes

EUR

USDC

Yes

USD

URO

Yes

USD

USDC or TUSD

No (1:1)

USD

USDT

Yes

CRO

CRO

No

ETH

ETH

No

Settlement Currencies

Settlement Currencies

Crypto.com Pay for Business can settle with merchants in various fiat and cryptocurrencies. They are shown on the Balance page and the Payout feature on the Merchant Dashboard.

Check this list for Settlement Currencies supported by Crypto.com Pay: What Are the Supported Settlement Currencies?

Merchant can set their Default Wallet Currency on the Settings page. When we receive payments from customers, we will credit the corresponding wallet in the merchants' account, according to the following logic:

  • When “Credit all payments to default currency wallet” is turned on, convert and credit all payments into selected Default Wallet Currency. The conversion rate will be based on the market rate at payment time, with no additional fees charged by Crypto.com Pay.

  • When “Credit all payments to default currency wallet” is turned off, if pricing currency is one of the available wallet currencies for the merchant on the Balance page, credit to that wallet. In this case, we guarantee the amount credited will be the same as the amount you priced. Otherwise, convert and credit to Default Wallet Currency.

For example:

Pricing Currency

Default Wallet Currency

Credit Currency

Conversion Needed

GBP

EUR, Credit all

EUR

Yes

ETH

EUR, Credit all

EUR

Yes

GBP

EUR

GBP

No

ETH

EUR

ETH

No

USD

USD, Credit all

USD

No

USD

USD

USD

No

HKD

USD, Credit all

USD

Yes

HKD

USD

USD

Yes

Refund Currencies

Similar to payments, refunds are made in cryptocurrencies as well. As there could be price changes in the cryptocurrency paid, Crypto.com Pay guarantees the refund cryptocurrency amount to be the same value as the original pricing value (excluding blockchain network fees, if applicable)

If you need more information about the process and supported currencies for refund, please refer to How to Initiate Refunds / Partial Refunds to Customers? for merchant side, and How to Get a Refund? for customer side.

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