TransFi is a Web 3 payments company that offers a widget for fiat to digital assets onramp and offramp. We do this by enabling global & local payment methods in a regulatory compliant process and sourcing liquidity from partner providers. TransFi focuses on ease of user experience so that Web3 is simplified for the next billion users, with a focus on emerging markets.
Is TransFi licensed?
TransFi currently operates its business with licensed & regulated partners in a way that we don’t require any licences.
Where does TransFi source liquidity from?
Our liquidity partner currently is Coinify.
Which cryptocurrencies does TransFi support?
TransFi supports 25+ cryptocurrencies. The list of currently supported cryptocurrencies can be seen here.
Which countries are you active in?
We are currently live in 140+ countries. The list of countries supported can be seen here and this list is updated regularly.
What fee does TransFi charge?
TransFi’s processing charges (excluding gas fees) are as below:
Credit Cards 4% across all countries
Bank transfers 1% across all countries
Debit cards 4% across all countries
NOTE: The applicable gas fees will be shown at the time of the transaction. In addition, our partners may charge forex conversion fees on cross-currency transactions.
Which are the languages currently supported by the TransFi widget?
The TransFi widget is currently available in English, Bahasa, and Vietnamese.
How can we restrict our end users from editing the wallet address?
Please use disableWalletAddress Form in our query parameters. Please pass the walletAddress. Once this is done, if disableWalletAddressForm is set to true then the wallet address option will be skipped for the user.
Where can I view success metrics?
For TransFi’s customers, the success metrics along with other usage metrics can be viewed on the Customer Dashboard.
Where can I view the status of fees charged?
You can see the complete breakdown of orders and fees charged by users in the Customer Dashboard.
Do we only support 3D Credit and Debit Cards?
Yes, TransFi supports only 3D secure credit cards.
What main parameters do I need to pass through?
apikey is the only required parameter to embed the widget. For more configuration and customization, please take a look at our documentation page.
Can multiple developers from my company access the same sandbox environment?
Yes, multiple developers from the same Customer can access the sandbox environment with different login credentials.
What is a Wallet and how can I get it?
A cryptocurrency wallet is where you receive and store your cryptocurrency and NFT. You can get a wallet from providers such as Metamask, Trust Wallet, Argent wallet etc.
What is KYC?
KYC is an acronym for ‘Know Your Customer’. KYC check is a mandatory process of identifying and verifying the end users’ identity when establishing any relationship and periodically over time. In other words, companies must ensure that their users are genuinely who they claim to be.
As an end user, you will need to clear the KYC process by submitting the required documents for identity & verification (any government photo ID like passport / driving license / national ID) and a selfie before your first transaction. You will also have to provide your address as part of the process.
How do I log in to my account?
Click on the Menu icon on the TransFi Widget to open the Menu options and click on the ‘Sign In’ button to login to your account. An OTP will be sent to your registered email address which needs to be entered every time you want to login to your account (There is no need for you to create a password to login to your account)
How do I view my trade/order history?
Click on the Menu icon on the TransFi Widget to open the Menu options and click on the ‘Trade History’ button to view your trade/order history.
How can I reach out for help?
You can go to our Help Centre and see the FAQs there for help. Further, you can raise a ticket to us on the Help Centre.
What age do I need to be to use TransFi?
In order to be eligible to use TransFi, your age needs to be 18 years or above.
How can I update my name, email, phone number and residential address?
TransFi doesn’t collect the phone number. Email is the primary identifier of the relationship and therefore, can’t be changed. For any changes in name and residential address, users should raise a ticket on our Help Centre.
How can I store a card to my account? How can I remove a card from my account?
Our end users can store, retrieve and delete their card details (credit and debit) from their online browsers.
How long does it take to receive cryptocurrency in my account?
The time taken depends on the payment method and cryptocurrency. For credit cards, this could range from less than 60 seconds to 60 minutes for the transaction to be executed and cryptocurrency to be delivered to your wallet. For bank transfers, the time taken could be up to 4 hours post successful payment from your account.
What are the minimum and maximum limits on?
Minimum purchase limit per transaction is – Euro 500 for USDC and Euro 60 for other supported cryptocurrencies.
Maximum purchase limit per transaction is Euro 1,000. If the end user wants to increase this limit, he/she will have to do an enhanced KYC and provided proof of source of funds (PSOF). On successful submission, the maximum limit could increase to Euro 5,000.
Minimum purchase limit per transaction is - Euro 500 for USDC and Euro 125 for other supported cryptocurrencies.
Maximum purchase limit per transaction is Euro 50,000. If the end user wants to increase this limit, he/she will have to do an enhanced KYC and provided proof of source of funds (PSOF). On successful submission, the maximum limit could increase to Euro 500,000.
How can I verify my identity?
As an end user, you will need to clear the KYC process by submitting the required documents for identity verification. This can be any government issued photo identification like passport, driving license, national ID etc.
What are the common reasons for rejection of identity verification?
The common reasons why identity verification could be rejected include poor photo ID quality, photos out of frame, duplication of identity, selfies out of frame. Your identity verification could also be rejected if you are from a country that is not supported by TransFi.