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FIAT Payment

Allow your customers to pay with FIAT currency by using a Credit Card

Why FIAT?

Enabling this setting allows your customers to purchase your NFTs using Fiat Currency on their Credit card via the NMKR Pay. This is a great way to reduce barriers to entry for people who are not yet accustomed to using crypto (or Cardano).
This is particularly useful for projects who are aiming to cater to markets outside of the Cardano (or wider crypto) ecosystem.
Note - enabling this option simply gives users the option to use it, they can still pay in ADA using the Payment Gateway. However, if a customer does choose to pay in this way, it removes our ability to implement features such as Sales Conditions or Discounts for that customer.

Where does the NFT go?

Great observation, if the customer doesn't pay using ADA then how can we send the NFT to them? They probably don't currently have an ADA wallet.
To solve this, we create a temporary Wallet called Paper Wallet at runtime as part of the process. We mint the NFT and send it to the new wallet once payment is received. The customer is then encouraged to create their own Cardano Wallet and transfer their NFTs from the Paper Wallet to this, thereby gaining complete custody.

Where does the Fiat currency goes?

The customer actually buys USDC a stablecoin from the Polygon Blockchain with his credit card, which is then received by the USDC payout wallet of the seller.

Set up FIAT payment for your project

Fiat Payment is enabled in two simple steps. The first step is to create a USDC payout wallet, followed by enabling FIAT payment for the project. One thing to keep in mind is that the FIAT payment is only available for prices of an equivalent of 10 USD or higher.

Set up a Polygon USDC wallet

To enable FIAT payment for your customers, please set up a USDC polygon wallet first. This wallet is necessary to receive the Revenue of the sale.

Enable FIAT payment for your project

The FIAT payment method can be enabled in your project's settings, and you can also specify different USDC payout wallets for each project.
FIAT Payments over 1000$ will require your customer to KYC. This is is only to protect from credit card misuse by bad actors.