FAQ

What is the difference between ATLOS and web2 crypto payment processors?

A web2 payment processor works by directing users to send cryptocurrency manually to its hosted wallet first. Then, the processor forwards these payments, less fees, to the merchant.

With ATLOS, users connect their web3 compatible wallet and approve the payment. The smart contract then pulls the correct amount of funds form the user's wallet and sends it directly to the merchant.

What is the advantage of using ATLOS as opposed to using web2 payments for the customer?

Web2 payments involve copying and pasting the recipient's wallet address (or scanning a QR code) and copying and pasting the amount. ATLOS allows completing the payment with only three button clicks (or just one click for repeat users). No manual copying or scanning is required.

There is significantly less friction and a possibility of a user error or hacks – there have been cases of malicious programs replacing wallet addresses stored in the clipboard while copying.

What is the advantage of using ATLOS as opposed to using web2 payments for the merchant?

Eliminating the human element from the equation makes the system more resilient to attacks, technical mismanagement, and theft. For example, in a web2 processor, funds can potentially be stolen by a rogue employee with access to the hosted wallet. ATLOS uses smart contracts that cannot be altered or turned off once deployed to the blockchain.

What are the benefits of allowing users to pay with crypto?

There is a large segment of people who earn their income in crypto. For them, it is preferable to pay for goods and services with crypto as opposed to first converting crypto into fiat and paying with fiat. The percentage of crypto-native users is projected to grow over time and eventually overtake the percentage of fiat users.

Each crypto transaction contributes significantly to your bottom line. For example, if your net margin is currently 20%, and you pay 4.5% for credit card processing, accepting crypto with ATLOS will translate into 3.5% savings for each transaction. That's a 17.5% increase to your bottom line!

What are stablecoins?

Stablecoins are tokens that have their value pegged to something stable, such as a national currency, like US dollar or Japanese yen. Popular stablecoins include USDC, USDT, or DAI. When you accept payments in stablecoins, you don't have to worry of the token price fluctuations common for some other cryptocurrencies, such as bitcoin. Find out more about the benefits of stablecoins in this article.

How can I convert crypto into fiat (or fiat into crypto)?

You can convert crypto into fiat, or vice versa, at one of the reputable cryptocurrency exchanges or peer-to-peer marketplaces. Some of best known exchanges are:

Binance.us
Binance.com
Coinbase
Kraken
Bitso

Marketplaces:

p2p.Binance.com
Localbitcoins
Paxful

Can ATLOS be used in addition to other payment processing options?

Yes. You may choose to use another payment processor for accepting fiat payment methods, such as credit or debit cards and use ATLOS for accepting crypto payments.

Can a user file a chargeback or recall the payment in some other way after it's been made?

No. All blockchain payments are irreversible. There are no chargebacks ever.

Do you support recurring payments?

Not at the moment. However, this feature is on our roadmap. Contact us and let us know that you are interested in it, so we can prioritize our development accordingly.

What blockchains do you support?

At this time we support these EVM compatible blockchains:

Ethereum
Binance Smart Chain
Polygon
Optimism
Arbitrum

Support for non EVM compatible blockchains is coming soon. Contact us and let us know if you are interested in adding support for any other blockchains.

Do you accept "high-risk" merchants?

Yes. Our system is permissionless, which means that you don't need to obtain an approval (as is the case with most fiat and web2 crypto processors) to use it. The signup process only entails authenticating via a web3 compatible wallet. Nothing else is required.

While we, as developers, have no way of knowing for what you use our system, we do hope that you will use it for accepting payments for a bona fide product or service.

Can ATLOS terminates its services to a merchant or freeze merchant's funds?

No. Fiat and some legacy crypto payment processors have "velocity controls" designed to detect spikes in processing volume and automatically freeze merchant's funds. Fiat payment processors can also ban the merchant's account completely if a chargeback ratio exceeds a certain amount (usually 1% of total processing volume). In contrast, ATLOS does not hold merchant's funds, does not have velocity controls, and does not have chargebacks.

How do I get support?

Please contact us via the Contact page or by email .