How Do Crypto Payment Terminals Work? Step by Step

A crypto payment terminal is usually a standard card payment terminal on which a crypto payment application has been added. The cashier enters the amount in euros, the terminal displays a QR code, the customer scans it with their phone and pays from their wallet or exchange. The merchant receives euros or stablecoins, with no exposure to volatility.

Do you need a special terminal to accept crypto?

No. Lyzi integrates with the terminals merchants already use: more than one million terminals are compatible, from manufacturers and partners such as Ingenico, Verifone, Sunmi, PAX, Landi, Nepting, Sylq or Yavin. Without a terminal, the merchant can also accept payments with the Lyzi Pro app on a smartphone, tablet or Android terminal, with a static QR code or with a payment link.

How does a payment work, step by step?

• The cashier enters the amount as for a card payment. On a Nepting terminal, for example, they stay in "Debit" mode, tap "+" and generate the QR code.
• The customer scans the QR code with their phone's camera, not from their wallet app. The pay.lyzi.io payment page opens with the amount, with no app to download.
• The customer chooses their exchange or wallet, then their crypto, and sends the exact amount on the indicated network.
• Validation usually takes about 2 minutes. The cashier hands over the product when "Payment validated" is displayed, and receipts print as usual.

Which cryptos can the customer pay with?

More than 300 cryptocurrencies, counting those of the integrated exchanges and those accepted directly, from more than 500 wallets. Directly: USDC, EURC, ETH, WBTC, POL and AVAX, on Ethereum, Polygon, Arbitrum One, Base, OP Mainnet and Avalanche C-Chain. From an integrated exchange, such as KuCoin or WhiteBIT, the customer pays with the cryptos available in their account. Stablecoins are the simplest, because their value does not move between display and payment: see our article on stablecoin payments at merchants.

What does the merchant receive?

The merchant chooses its settlement: in euros, or in regulated stablecoins such as USDC or EURC. The volatility risk is borne by Lyzi, not by the merchant. Each payment appears in the back office with its status, and can be found using its short code. Costs are explained in our article on crypto payment fees.

What security checks are in place?

The customer validates each transfer themselves from their wallet or exchange, and each payment goes through an automatic check of the origin of funds. Lyzi is a brand of Proofeo SAS, a payment agent registered with the ACPR (REGAFI no. 749869). The points to check before choosing a solution are detailed in our guide to MiCA-compliant crypto terminals.

For which businesses?

Crypto payment at the checkout first serves retail chains and store networks, independent merchants and luxury brands, part of whose international clientele already holds digital assets. To see where you can pay with crypto today, read our article on paying with crypto in store.

Want to enable crypto payments on your terminals? Contact the Lyzi team.