What is USDC payment?

A USDC (USD Coin) payment refers to the process of sending or receiving payments in USD Coin (USDC), a fully backed, fiat-collateralized stablecoin pegged to the US Dollar at a 1:1 ratio. USDC is built on various blockchain networks, including Ethereum, Solana, and others, and is designed to maintain a stable value, making it ideal for businesses looking to accept cryptocurrency payments without the volatility of traditional cryptocurrencies like Bitcoin or Ethereum.

USDC payments allow merchants to accept digital dollar transactions in a fast, secure, and cost-effective manner. It is widely used in e-commerce, subscription services, cross-border payments, and other industries that require stable and efficient payment processing.

How does USDC payment gateway work?

1

Set Up USDC Payments for Your Business

‍Calypso Pay provides a comprehensive payment gateway API, allowing you to easily add USDC and other crypto payment options to your website or platform.

2

Customer Selects to Pay with USDC

Your customers can choose to pay with USDC or other supported cryptocurrencies. They can also pay in fiat, which Calypso Pay will convert into crypto for your account.

3

We Generate a Payment Widget

Calypso Pay instantly creates a payment widget that calculates the amount in USDC and provides the payment details to your customer. You can also enable auto-conversion to minimize the impact of price volatility.

4

You Receive Payments Directly

Once the payment is processed, funds are sent directly to your business wallet. You have the option to transfer internally between accounts with zero fees.

Why use USDC for business?

USD Coin (USDC) offers businesses a unique blend of stability, efficiency, and transparency, making it a highly practical payment solution in the cryptocurrency space. Below are the key reasons why businesses may choose to use USDC for payments, payrolls, or other financial operations:

Benefits of Using USDC for Business:

Price Stability:
USDC is a stablecoin pegged 1:1 to the US Dollar. This eliminates the price volatility associated with traditional cryptocurrencies like Bitcoin or Ethereum, ensuring predictable financial transactions.

  • ‍Fast Transactions: Blockchain technology enables near-instant transactions. On networks like Solana or Polygon, transactions can be processed in as little as 1-2 seconds, making it faster than most bank transfers.‍
  • Low Transaction Costs: Transaction fees on blockchains such as Solana or Polygon are often less than $0.01. This is particularly beneficial for businesses handling high volumes of payments or operating internationally.‍
  • Global Accessibility: USDC can be sent and received anywhere in the world without needing a traditional banking infrastructure. This makes it ideal for cross-border transactions, bypassing delays and fees associated with SWIFT or wire transfers.‍
  • Programmability: With USDC being blockchain-based, businesses can use it in programmable smart contracts for recurring payments, automated payouts, or complex financial workflows.‍
  • Transparency and Trust: USDC is fully backed by cash and short-term US government bonds, with regular attestations from third-party auditors. This ensures that each USDC token is verifiable and reliable.‍
  • Easy Integration: Businesses can easily integrate USDC payments through APIs, plugins, or payment gateways. Tools like widgets and customizable payment flows also make it simple to get started.‍
  • Efficient Payroll and Payouts: For companies with global teams or freelancers, USDC allows fast, affordable payroll transactions without traditional banking intermediaries. Funds arrive instantly, even across borders.‍
  • Regulation and Compliance: USDC operates under stringent regulatory frameworks, offering businesses peace of mind when dealing with a trusted stablecoin.‍
  • Customer Preference: Many customers prefer stablecoins like USDC for their reliability and ease of use, especially in regions with unstable fiat currencies or limited banking options.

By accepting or using USDC, businesses gain the advantages of cryptocurrency while avoiding the risks associated with market volatility, making it an excellent choice for a wide range of industries — from e-commerce and subscriptions to remittances and B2B payments.

How to accept USDC payments for business?

1. Sign Up for a Calypso Pay Account. Register with Calypso Pay in under a minute. Our support team is available to assist with onboarding and integration.

2. Create an API Key. Generate an API key to set up Calypso Pay payment gateway. This will allow you to accept USDC payments and make payouts seamlessly.

3. Set Up a Payment Widget. Create a cryptocurrency Payment Widget, add USDC as a payment option, and embed it on your website. Customize the payment flow to match your business needs and branding.

With these steps, you're ready to start accepting USDC payments through Calypso Pay.

USDC payment methods

Invoices: limited and unlimited crypto invoices, fiat invoices.

Payouts: single and mass payouts.

Specific cases: recurring payments, payroll.

Payment flow: Payment Widget, Payment Link or Embedded Link.

‍USDC payment gateway API: is supported.

FAQ

How do I accept USD Coin (USDC) payments?

  • Sign up for a Calypso Pay business account.  
  • Complete the onboarding process with our account manager.  
  • Generate your first API key.  
  • Use our API documentation or get help from our support team to integrate.  
  • Add USDC as a payment option in your checkout.

What is USDC?

USD Coin (USDC) is a stablecoin pegged 1:1 to the US Dollar. It operates on multiple blockchains, including Ethereum, Solana, Polygon, and more, and is backed by reserves of cash and short-term U.S. government bonds.

How does USDC maintain its value?

USDC maintains its value by being fully backed by reserves in cash and U.S. government bonds. These reserves are regularly audited by third-party firms to ensure transparency and trustworthiness.

What is a USDC payment gateway?

A USDC payment gateway enables businesses to accept payments in USD Coin. It provides APIs, plugins, and tools to facilitate the integration of USDC payments into websites, e-commerce platforms, and applications.

Why use USDC for payments?

USDC offers fast transactions (typically 1-2 seconds on networks like Solana), low fees (as little as $0.01 per transaction), and stability, as it is pegged to the US Dollar. It is ideal for global transactions, recurring payments, and payrolls.

How can my business accept USDC?

You can accept USDC by integrating a payment gateway that supports USDC e.g. Calypso Pay. This can be done using APIs, plugins, widgets, or custom payment buttons, depending on your website or application.

How fast are USDC transactions?

USDC transactions vary in speed depending on the blockchain used. For example, transactions on Solana or Polygon can take as little as 1-2 seconds, while Ethereum may take slightly longer depending on network congestion.

What are the fees for USDC transactions?

Transaction fees depend on the blockchain network. For instance, fees on Solana or Polygon are typically under $0.01, while Ethereum fees can range from a few cents to several dollars during periods of high network activity.

Is USDC suitable for international payments?

Yes, USDC is an excellent choice for international payments. It eliminates the need for traditional banking systems, allowing businesses to send and receive payments instantly with minimal fees.

Can USDC be used for payroll?

Yes, USDC is commonly used for payroll, especially for businesses with global teams. Its speed and low fees make it a practical solution for paying employees or contractors anywhere in the world.

Is USDC legal?

Yes, USDC is legal in most countries. However, regulations vary depending on the jurisdiction, so it’s essential to understand your local cryptocurrency laws.

How does USDC compare to other stablecoins like USDT?

Both USDC and USDT (Tether) are stablecoins pegged to the U.S. Dollar. USDC is often seen as more transparent due to regular audits of its reserves, while USDT has faced criticism over reserve transparency.

What wallets support USDC?

USDC is widely supported by most cryptocurrency wallets, including hardware wallets (Ledger, Trezor) and software wallets (MetaMask, Trust Wallet, Phantom).

Can customers pay in fiat and receive USDC in my account?

Yes, using on-ramp services provided by payment gateways, customers can pay in fiat currencies (like USD or EUR), and the equivalent amount in USDC will be deposited into your account.

Is USDC safe for my business?

Yes, USDC is considered a safe payment method. Its transparency, regular audits, and compliance with regulations make it one of the most trusted stablecoins.

Can I send mass payouts in USDC?

Yes, many payment gateways support mass payouts in USDC. You can use APIs or dashboards to automate and manage bulk payments efficiently.

What are the common use cases for USDC in business?

USDC is used for:

  • E-commerce payments
  • Subscription services
  • Payroll for global teams
  • Cross-border transactions
  • Cryptocurrency trading

Who issues USDC?

USDC is issued by Circle, a financial technology company, and is governed in partnership with Coinbase through the Centre Consortium.

Where can I check USDC reserve transparency?

You can check USDC’s reserve transparency through audits published by third-party firms like Grant Thornton. These audits confirm that USDC is fully backed by equivalent reserves.

Is it legal to accept USDC payments for business?

It depends on your location. Calypso Pay works in all countries except the following ones:

  • Belarus
  • the Central African Republic
  • the Democratic Republic of the Congo
  • Iran
  • Iraq
  • Lebanon
  • Libya
  • Mali
  • Myanmar
  • Nicaragua
  • North Korea
  • the People’s Republic of China
  • Russia
  • Somalia
  • South Sudan
  • Sudan
  • Syria
  • Ukraine
  • Venezuela
  • Yemen
  • Zimbabwe