Pricing Currencies

When you create a payment request on Crypto.com Pay, you need to specify a currency and amount. This 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 that customers choose to pay with, and then charges the customer the required amount. Therefore, sometimes the pricing currency is used for reference purposes only, and it is not necessarily involved in the actual transaction. Check out the list of 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 with. 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, an automatic conversion will be performed on the client side. The exchange rate will be based on the market rate at the time of payment, with no additional fees from Crypto.com Pay. If the payment currency is the same or equivalent to the pricing currency, no conversion is required.

For example:

Pricing Currency: EUR, Payment Currency: CRO, Conversion Required

Pricing Currency: EUR, Payment Currency: USDC, Conversion Required

Pricing Currency: USD, Payment Currency: USDC, No Conversion Required (1:1)

Pricing Currency: CRO, Payment Currency: CRO, No Conversion Required

Clearing Coins

Crypto.com Pay for Business can settle with merchants in various fiat currencies and cryptocurrencies. They are displayed on the Balance page and the Payments feature in the Merchant Control Panel. Check the list of clearing currencies supported by Crypto.com Pay: What are the supported clearing currencies? A merchant can set the default wallet currency on the settings page. When we receive payments from clients, we will credit the appropriate wallet to the merchant account, according to the following logic:

When the “Credit all payments to default currency wallet” option is enabled, you convert to the selected default wallet. The exchange rate will be based on the market rate at the time of payment, with no additional fees from Crypto.com Pay.

When this option is disabled, if the pricing currency is one of the wallet currencies available to the trader on the Balance page, we will receive that wallet. In this case, we guarantee that the amount credited will be the same as the amount you priced. Otherwise, we will be rewarded and converted to a default wallet.

For example:

Pricing Currency: GBP, Default Wallet: EUR, EUR Credit, Conversion Required

Pricing Currency: ETH, Default Wallet: EUR, EUR Credit, Conversion Required

Pricing Currency: GBP, Default Wallet: EUR, Credits GBP, No Conversion Required

Refund Currencies

Similar to payments, refunds are also made in cryptocurrencies. Since there can be changes in the price of the cryptocurrency paid, Crypto.com Pay guarantees that the amount of the coin to be refunded will have the same value as the original pricing value (except for the blockchain network fees, if any). If you need more information about the process and the currencies that are supported for refunds, see How to initiate refunds/partial refunds for customers? on the merchant side, and How to get a refund? on the client side.