Overview
What is BlindPay and how we do move funds?
Introduction
BlindPay is a payment processor that allows you to convert stablecoins into fiat currency.
We support any kind of blockchain wallet (EOA, AA), multiple stablecoins (USDC, USDT), and multiple networks (Base, Arbitrum, Polygon).
We don't have custody of your funds, which means we do NOT provide any wallet, and all failed payments will have the funds returned to the same wallet that started the payment.
Flow of Funds
We basically have three steps on every payment:
- Your (or your customer's) blockchain wallet will approve the tokens to be moved by BlindPay.
- We will check if the approval was done and will start the fiat transfer using local payment rails (ACH/wire in the US, Pix in Brazil, etc.).
- Once the fiat transfer is 100% complete, we will retrieve the stablecoin funds to BlindPay.
If the payment is not successful, the funds will be returned to the same wallet that started the payment.
You can see more details about the smart contract here: BlindPay Smart Contract