Accept euro and crypto payments

Defi is an acronym for Decentralized Finance, which identifies all those platforms where value transfer is not entrusted to a physical intermediary. The Synkrony Pay component is a defi system in that it uses dedicated smart contracts for value exchanges, therefore creating a real exchange order book between buyers and sellers.

In online shopping, escrow services work as an external but trusted third party holding money and regulating payments on behalf of transacting parties in a given time. The escrow is therefore a guarantee system safeguarding users in their shopping in exchange for a fee on their transaction.
When it comes to the escrow of the Synkrony Pay component, the external actor handling the transaction is regulated by a smart contract, which automatically proceeds to sending the payment to the seller or returning it to the buyer when pre-established rules verify.
The escrow manager is allowed to proceed in two ways: to either give the money back to the customer or transfer it to the merchant. Under no circumstances, can it divert the funds to wallets other than the ones implied in the transaction.

Within Synkrony’s network, cryptos are held and managed by means of an ecosystem of smart contracts specifically designed for holding, exchanging and burning single tokens and according to specific rules for each and every token.

No, once you collect the cryptos, you will get to decide if and when to convert them into other cryptos, tokens or other currencies.

Owning and selling cryptos also means having to constantly stay up to date with changing regulations: please check in with the country you live in to know about the implications of earning, owning and listing cryptos.

Synkrony offers optional escrow services for refund. Contact us to know more. If you choose to not use this service, refund costs and management will be the exclusive responsibility of the merchant and will depend on the laws of the country from which one operates, on the products returned and on specific cancellation policies that may be stipulated with customers.

Conversion of cryptos into other currencies (and their exchange) are handled by the exchange platform Synkrony, although resorting to alternative standard exchanges available on the market is also possible

Synkrony has various arrangements in force with commercial banks for the safekeeping of valuables. 

Synkrony Pay provides every merchant with comprehensive information about their incoming transactions (paid, pending, failed or expired)

Synkrony enables every merchant to pick which cryptos they want to collect among those available inside the network: bitcoin, ethereum, litecoin, dash, dogecoin

Synkrony allows you to transfer earned cryptos to other wallets outside the network

No limitations or restrictions

Synkrony pay can be easily integrated into your e-commerce, online shop, or app through API, and it can be installed through plugin on major web platforms such as Woocommerce and Magento