Payment processor that will convert credit-card payment into ADA

Hi guys,

I run an E-comm business, and I want to find a payment processor that will take my customers’ credit cards’ and automatically convert payments into ADA and deposit it into my wallets.

Does anyone know if something like this exists?

Hello @gabrielf and welcome to Cardano forum :smiley:

Payment processors do not usually do that. They are a bridge from your customer to you. So, if a customer wants to pay fiat cash via credit card, they get that cash to you. They usually do not do money management or investments for you. If you want to convert fiat money you received to crypto you would have to use an exchange or a swap.

If you live in a country where you can be on crypto exchange and have a way to deposit fiat currency, then maybe you can just set up auto transfer from your bank account to your exchange. Then you can exchange it to whatever crypto you like and then transfer to wallet of your choice.

Otherwise you are asking your payment processors to use your customers credit cards and buy crypto with (which many cards from many countries can’t do) that may be illegal in customers country, then deliver crypto to a wallet (which bypasses KYC of your own payment processor, because anyone can own that address). Then if there are charge backs on that credit card you are asking your payment processor to cover any losses instead of you (since they can’t charge back crypto wallets).

Payment processor must have an ability to revers charges to your account and usually must have a way to comply with KYC and anti-money laundering laws in their country. So, they can accept crypto for you (no charge backs possible and they give your name for KYC) or they can accepts credit cards cash which they have to deposit in bank account (because of possibility of chargebacks).

Hope this helps :smiley:

This is the most crypto friendly merchant account provider I know of, though they don’t support cryptocurrencies directly:

They have a system within the same bank which would convert fiat to crypto after a SEPA Instant transfer from the merchant system to the trading system. This trading system’s list of supported coins doesn’t include Ada yet, even though they recently added a whole bunch of shitcoins… so I think Cardano will soon be supported:

In the meantime you could use one of these services to bounce an efficiently converted cryptocurrency (e.g. XRP) into your ADA wallet (no KYC required):

https://changelly.com/

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Thank you!! really appreciate the response :smile:

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Thanks a lot! :smile:

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