Frequently asked questions about Checkout
For a longer-form explanation of what Checkout is, be sure to visit Introduction to Checkout V1 Embr Checkout allows you to customize and implement cutting-edge Web3 payment tools to enable the absolute easiest means for your investors to buy your digital assets. Checkout is a comprehensive toolset including webpage embeddables, hosted purchase flows, and shareable payment links/QR codes. Together, the various tools offer frictionless onboarding to the DeFi space, unlike anything else currently available.
One of the hardest parts of any DeFi/Web3 startup is onboarding new users and customers that aren't already familiar with the space. There are multiple points of friction that stop prospective buyers from actually completing their purchase. The current process of buying a DeFi token is inherently error-prone, making it easy to lose your funds by mistake by simply attempting to complete a purchase - especially for someone not familiar with DEXes, wallet addresses, and smart contracts. Embr Checkout benefits your business in one clear way - it eliminates all the friction of buying a DeFi token. Checkout offers a user experience already familiar to Web2 natives, but with Web3 technology powering it. Buying tokens through Checkout is as easy as buying something from your favorite online retailer - so easy that your tech-averse grandparents could probably figure out how to complete a purchase.
Checkout uses Transak's API to on-ramp crypto from fiat. At the time of writing, Checkout currently accepts credit cards (Mastercard and Visa), debit cards, Google Pay and Apple Pay. For a breakdown of fees, please visit Fees.
We currently use two onramps to power fiat-to-crypto transactions. We use Transak for non-integrated onramping (embr.org uses Transak) and Wyre as our integrated onramp provider (for Checkout). Which onramp you're using will change the answer to this question.
Our integrated onramp through Checkout uses Wyre, which allows fiat-to-crypto transactions under $500 without needing to undergo KYC for the Domestic US. For the rest of the world, the limit is $1000 without needing KYC.
Undergoing KYC with Wyre heightens your daily/weekly/monthly limits and allows you to onramp greater volumes.
On the other hand, you will need to complete KYC in order to onramp crypto from fiat through Transak. We do not have any control over this, but, Transak only requires KYC once on your first use. After you complete KYC once, that Transak account will not have to complete KYC again through any Transak API connected onramp. This means that once you complete KYC on one project's Checkout-enabled website, you won't have to, even on another project's Checkout-enabled website. Depending on your geographical region, you may have to provide some personal details, a clear photo of a government issued ID, and/or a selfie to complete KYC.
Yes, there is a minimum purchase limit of $30.00 USD. This means that the smallest purchase you can make through Checkout is $30. There is also a maximum on how much you can buy in certain windows of time. Transak's limits are as follows:
- Single-transaction limit of $1,500.00 USD
- Daily limit of $5,000.00 USD
- No week-specific limit (N/A)
- Monthly limit of $28,000.00 USD
- Yearly limit of $100,000.00 USD
There are other services and products that allow you to on-ramp crypto from fiat, some are even embeddable. The issue with the current standard is that these embeddables and interfaces will look like DEXes and feel like DEXes. Checkout purposely takes the Web3 token-buying process and applies a familiar user experience with inspiration taken from Web2 and traditional e-commerce. You can on-ramp your BNB, for instance, but then you still have to go to the PancakeSwap DEX to swap. You may not be able to even on-ramp the crypto you need to buy the token you have your eye on. You may find, as well, that other on-ramp solutions aren't customizable or flexible to suit the specific needs/flow of your business. Embr Checkout gives you flexibility through customization and having a multitude of implementation options to choose from. Checkout also takes care of the entire process of going from fiat to your desired token on the backend, eliminating the literal dozen error-prone steps between you and receiving tokens in your digital wallet. Don't have a wallet? You can generate a non-custodial wallet right in the payment flow so you can truly onboard new users in a contained, safe way without redirecting. Embr Checkout is the only truly frictionless onramping experience in the Web3 space that is capable of onboarding people to Layer 2 tokens that do not have prior DeFi experience.
Embr takes the security of its technology extremely seriously. In the context of Checkout specifically, Embr utilizes a bug bounty program and penetration testing through world-renowned cybersecurity firm Hacken (and HackenProof). Embr is a proud official partner of Hacken. Additionally, Checkout has built in anti-fraud features through Transak, AML compliance with real-time monitoring through Sentinel Protocol, and is powered by a router contract that got a "well-secured" rating and 9.8/10 score on its audit from Hacken. There are no guarantees in DeFi, but Embr proudly takes every possible step to secure its technology in order to make it an undesirable target for bad actors. For more details, please visit Security and Audits.
No, Checkout is not a DEX. Checkout is a dedicated payment flow that you can pre-configure to plug into any compatible DEX. We also aren't a DEX aggregator (like 1inch) as we do not make suggestions on where you should swap.
You do not need to provide any liquidity to us in order for Checkout to work for your token. Checkout uses your own existing liquidity on the DEX(es) you already use.
You simply enter in your contract address on the Admin Dashboard and it'll detect the associated LP. If it doesn't, you can enter in the address manually.
Don't know where to stay up to date on development news pertaining to Checkout? There are a few places you can keep up to date:
On our Checkout product page, you can schedule a live consultation through the "speak to an expert" button at the top. We love to meet and talk to the various trailblazers in this space so don't hesitate to book a consultation if you're on the fence! For product support or customer service, please head over to help.embr.org. There, you can get in touch with us, get live help and/or view our growing list of Knowledge Center resources.