As you know, here at NFTify, we’re all about removing barriers to make mass adoption of NFT a reality for everyone out there, and with this Sprint release, we have yet another feature – fiat payment – to make NFTs more accessible to the mainstream audience.
Fiat payment – to make NFTs more accessible to the non-crypto audience.
Let’s get right into it:
Activating fiat payment for sell orders
When creating sell orders on your backend, store owners can now enable Fiat Payment to allow buyers to make purchases with their credit cards. Our fiat payment solution is designed in a way that it’s non-intrusive – fiat currency paid by buyers will be converted into cryptocurrency and paid directly to your crypto wallet.
And to activate fiat payment for your new sellers, simply create a new Sell Order and toggle Fiat Payment to On.
Enabling fiat payment in your Admin Panel
How it looks on the storefront
When created, the fiat sell orders will be reflected accordingly on your storefront, and fiat payment will be shown as Pay with Visa & Mastercard, which is an additional payment method alongside Pay with Crypto.
And when buyers click on Proceed to payment, they’ll need to go through the standard KYC procedure - an industry standard to avoid fraudulent transactions. When completed, information from this KYC process is saved, and your buyers can freely buy without hassle the next time they decide to buy an NFT from your store using fiat payment.
First-time buyers must go through a standard KYC process
Keynotes for our current fiat payment integration:
Currently only available on the Polygon network and for sell orders listed in MATIC only
Applicable only for purchases whose worth are 7 USD or higher
Buyers need to pay an additional exchange fee of 4%
We understand that the current limitations might come as a concern for some of you, which is why we’re working hard to integrate fiat payment into the BNB & ETH networks along with options for more cryptocurrencies in the near future.
And that’s it for Sprint 16! Hopefully, with the new Fiat Payment feature, the reality of NFT becoming mainstream is one step closer, as the process of buying now is almost as easy as buying any item online.
In the next Sprint, you’ll be seeing more quality of life changes such as a new Bulk Upload option, along with permission settings for your collaborators. Stay tuned!
About NFTify
NFTify is a multi-chain platform that enables anyone to create their own fully functional NFT marketplace in just a few minutes, without coding or upfront cost required. The platform is one of — if not the first — platform to lower the bar for everyone to join the NFT space, and it comes with various first-on-the-market features to set itself apart from others.
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