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.
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.
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.
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 profit 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! See the Crypto Payments Savings Calculator for more details.
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.
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
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.
No. All blockchain payments are irreversible. There are no chargebacks ever.
Yes. You can specify the recurrency interval in the call to the atlos.Pay method. The valid intervals are one day, one week, one month, and one year. Once the user makes the first payment, our smart contract will automatically pull the same number of tokens from the user's wallet at the specified recurrence interval. In the event if the user's wallet doesn't have enough funds, our system will automatically generate an invoice and notify the user by email that a payment is due.
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.
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 the total processing volume). In contrast, ATLOS does not hold merchant's funds, does not have velocity controls, and does not have chargebacks.
We support a wide range of native coins such as bitcoin, ether, etc., and a number of stablecoins such as USDC, USDT, DAI and more. Each token may also be supported on more than one blockchain. For example, USDC is available on Ethereum, Binance Smart Chain, and Polygon. New coins and blockchains are continuously added. Please see the full list of supported coins and blockchains.
If you don't see a coin you would like to accept, please contact us. We'll be happy to add it for you.
When you first sign up with an EVM-compatible wallet, only EVM-compatible blockchains, such as Ethereum or Polygon, show up in the payment widget. To enable other blockchains, such as Bitcoin or Monero, you need to add your wallet addresses or your wallet public keys (see below) for these blockchains.
To add a wallet address or a wallet public key, access the Merchant Panel, then go to Settings -> Wallet Addresses.
A wallet public key is a string of letters and number that usually begins with "xpub", "ypub", or "zpub". It allows generating different wallet addresses without being able to access and withdraw wallet funds.
For blockchains, such as Bitcoin, for which the public key option is available in the Merchant Panel, you may enter either your wallet address or your wallet public key. If you enter the wallet public key, ATLOS will automatically generate different payment addresses for your wallet. If you enter your wallet address, ATLOS will use only that wallet address for all user payments. Entering a public key is the preferred option.
If your wallet supports multiple blockchains, each will have a separate public key. To find your wallet public key, follow the documentation of your wallet.
ATLOS is different from other payment processors in a way how it works. Because funds go directly to the merchant's wallet, ATLOS can only take a fee if a transaction is sent via a smart contract. It cannot take a fee for manual payments.
If ATLOS cannot take a fee for a transaction, it increments the fee balance for the merchant. When it can take a fee, it takes the fee for the transaction plus the outstanding merchant's fee balance accumulated by that time. Therefore, the fee can be higher than 1% of the transaction amount, if there was a prior outstanding balance.
You can see the detailed fee breakdown and the running balance on the Commissions page of the Merchant Panel.
You can save up to 50% on commission fees by paying fees with ATLOS token. Using the token also has other benefits. Visit the ATLOS Token page for more details.
Please contact us via the Contact page or by email .