Does NearPay Require a NEAR Wallet?
NearPay offers custodial wallets and cards, eliminating the need for a third-party wallet. Users can store, send, exchange, and buy crypto via NearPay’s web platform and mobile apps. The NearPay Visa Card allows seamless crypto payments wherever Visa is accepted, providing a complete fiat-to-crypto solution.
How Can Users Identify Genuine NearPay Widgets?
Ivan Ilin: Basic security practices, such as using trusted service providers, are essential. NearPay rigorously assesses all supported tokens, ensuring no scam coins or tokens appear on its platform.
When Was NearPay Established?
NearPay was founded in late 2021 by Kikimora Labs. By mid-2022, it launched virtual crypto cards and wallet apps, with plans for physical debit cards underway.
What Challenges Did NearPay Face During Development?
Developing seamless fiat-to-crypto solutions while addressing varying economic and legal regulations was one of the biggest challenges. NearPay’s cards are currently available only in the UK and EEA, with plans to expand to the US and Asia soon.
What Deposit Methods Are Available on NearPay?
NearPay supports 18 popular cryptocurrencies and fiat deposits via Visa, Mastercard, SEPA (Euro Bank transfers), and Faster Payments (GBP transfers). Plans are underway to include the NEAR-native stablecoin USN and expand payment options globally.
Will NearPay Accept UnionPay or Maestro?
Negotiations are ongoing with payment providers to integrate UnionPay and Maestro in the future.
How Does NearPay Differ from Sender Wallet?
Unlike Sender Wallet, NearPay is a custodial wallet that supports fiat transactions and a broader range of cryptocurrencies. It offers user-friendly features like restoring wallet access and linking bank cards, enhancing accessibility for newcomers.
Which Cryptocurrencies Are Most Popular with NearPay?
The most purchased cryptocurrencies on NearPay are NEAR, Bitcoin (BTC), Ether (ETH), and stablecoins like USDT and USDC.
Why Should I Get a NearPay Visa Card?
NearPay Visa Cards enable users to make everyday purchases using crypto, bringing NEAR’s capabilities to real-world scenarios like dining, shopping, and utility payments.
Are There Rewards or Loyalty Programs?
NearPay currently does not offer a rewards program but plans to introduce one, including staking features, by the end of the year.
How Fast Can Users Trade NEAR Coins with NearPay?
Transactions are completed within seconds, leveraging NEAR Protocol’s advanced sharding mechanism for scalability and speed.
What Is NearPay’s Current User Base and Future Projection?
NearPay’s user base has grown by 35% in the past two months, reaching approximately 20,000 users. With global expansion plans and NEAR’s increasing adoption, the company aims to reach 1 million users by 2024.
Why Should Merchants Consider NearPay?
NearPay provides an intuitive widget for fiat-to-crypto payments, allowing businesses to accept cryptocurrencies without setup or transaction fees. Its dashboard simplifies payment and invoice management for merchants.
Are All Industries Accepted as NearPay Merchants?
NearPay supports most industries but excludes gambling, betting, and cannabis businesses due to compliance and risk management policies.
Are There Any Whitelabel Brands Using NearPay?
Currently, no whitelabel brands are associated with NearPay, but interest in the service is growing, and future partnerships are expected.
CryptoChipy thanks Ivan Ilin for sharing insights into NearPay’s journey and wishes the team continued success in connecting fiat and crypto worlds.
