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 160+ 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.
How can we integrate with TransFi?
Integration with TransFi is easy and quick. Here are the steps:
Business details: Once you click the ’Integrate with TransFi’ or ‘Contact Sales’ button, a web form will appear. Fill out the web form with basic details about your business and submit it.
Login Credentials: You can then create your account by entering your email address (which will be your username) and an OTP to access the Customer Dashboard in a sandbox environment, where you can explore our widget.
KYB (Know Your Business) & BSA (Business Services Agreement): Complete your KYB (Know Your Business) form and sign a BSA (Business Services Agreement) to be successful onboarded.
API Keys: Once you are successfully onboarded, you will get the API keys to the Production environment to go live with TransFi.
What is KYB (Know Your Business)?
Know Your Business (KYB) verification is a company's Anti-Money Laundering (AML) compliance requirement. Know Your Business (KYB) generally requires a company to perform suitable due diligence by collecting & analyzing a range of data and information on the businesses with which they are associated. KYB verification measures are key components of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations.
How do we contact TransFi for support in case of any queries, concerns, issues, and negotiation?
We currently support our customers through a Slack channel, the link for which is available on the Customer Dashboard. You can click the link to get redirected to our Slack channel for support and we will assist you. Alternatively, you can write to us at firstname.lastname@example.org.
What is the sandbox view on the Customer Dashboard meant for?
The sandbox view on the Customer Dashboard enables you to test the TransFi widget. It has all the features from our live product replicated, so that you can explore the product in a test environment.
Should we complete the KYB (Know Your Business) process to access the sandbox environment on Customer Dashboard?
No, you do not need to complete the KYB (Know Your Business) process to access the sandbox environment. KYB is required for enabling transactions in a live environment.
How do our end users get support for transaction related queries and issues?
You can use the Slack support channel to forward any queries, issues, or concerns that are raised by your end users, and we will assist you. Alternatively, you can write to us at email@example.com. Your end users can also reach us by going to the Help Centre and raising a ticket.
How do we go live with TransFi to enable live transactions?
You need to clear the KYB process by providing the details requested in the form and sign the Business Services Agreement (BSA) to go live with TransFi.
Should our end users complete their KYC (Know Your Customer) process for every transaction?
No. An end user needs to complete the KYC (Know Your Customer) only at the time of his/her first transaction. An updation to KYC is only required when there is any material change about the status of the end user (e.g identity document, residential address).
Can we add our top up fees for the end user transactions?
Any top up fees for end user transaction is a separate negotiation as part of signing the Business Services Agreement (BSA).
How can we rollout promotions for our end users?
You can rollout promotions for end users in the following ways:
Email: The most effective way of promoting is to send emails to your end users informing them about the TransFi widget integration in your website/application. You can add any information on any offers / promotions that you wish to add.
Social channels: You can also announce the TransFi widget integration and promotional offers on your social platforms like Twitter, Discord, Telegram etc. and we will share them on all our social platforms as well.
Where can I view volume numbers?
The transaction volume details are available for you to view on the Customer Dashboard. You can also view the order history on the Customer Dashboard.