What is Kinesis Pay?
Kinesis Pay is a payment plug-in that gives businesses access to a payment rail built for accepting gold, silver, KVT, a suite of Currency One stablecoins, and a wide range of fast-settlement digital assets available on the Kinesis platform, including BTC, ETH, XLM, DASH, DOGE, USDC and more.
This highly scalable payment method is available to all Kinesis users who want to earn or make purchases with gold, silver and digital assets – both online and in store. Kinesis Pay transactions within the Kinesis Monetary System are near-instant, with no minimum transaction amount, ensuring a seamless payment experience.
Key features:
- Receive near-instant gold, silver and crypto for your goods and services.
- Highly scalable feature, ideal for any size and type of business.
- Earn multiple yields on your revenue.
- Make purchases securely with a QR code.
- Save time by scanning to pay from within the app.
- Receiving direct payments in precious metals and crypto saves time and reduces transaction fees (by removing the need for manual deposits of company earnings, and then purchasing KAU or KAG on the platform).
Do I need a Kinesis account to use Kinesis Pay?
Yes, you must be a Kinesis user with a verified and active account to make or receive Kinesis Pay payments in gold, silver and digital assets.
What types of businesses are accepted?
Kinesis encourages everyone to start using gold and silver as money. There are no restrictions - any type of business, no matter how big or small, is welcome to join the highly scalable Kinesis Pay initiative, with the installation process the same for every merchant - and always free.
Restrictions are only applied if the Merchant violates the Kinesis Pay Terms & Conditions policy, for example, by selling illegal products or if fraudulent online activity or money laundering is suspected. In such instances, Kinesis will freeze the Merchant’s account until the issue is resolved.
What currencies can I use with Kinesis Pay?
Kinesis Pay supports payments in gold (KAU), silver (KAG), the Kinesis Velocity Token (KVT), a suite of Currency One stablecoins, and all digital assets available on the Kinesis platform.
For the full list of assets supported on the Kinesis platform, click here.
The Purchaser can choose any supported precious metal or cryptocurrency through Kinesis Pay. The required amount is then automatically calculated to match the exact fiat value of the product at the time of purchase.
The Merchant can select any available fiat currency during the SDK setup, choosing from those supported on the Kinesis platform. The SDK automatically converts the fiat amount into the correct value of gold, silver or digital assets at the point of payment.
Once the purchaser scans the QR code or enters the Payment ID and confirms the transaction, the amount of gold, silver or digital asset is instantly transferred to the merchant’s Kinesis account.
The merchant always receives payment in gold, silver or digital assets – keeping the entire transaction outside the fiat system.
Can I use Kinesis Pay for both online and in-store transactions?
Yes. The Kinesis Pay plug-in can be installed for any merchant website, allowing purchasers to buy products and services with gold and silver directly from online shops.
Additionally, physical shop owners can benefit from the printable Kinesis Pay QR code functionality, enabling their customers to make instant in-store payments in gold and silver with their smartphones.
Do I need a Kinesis account to use Kinesis Pay?
Yes. To make a gold, silver or crypto payment on a participating merchant’s website, you’ll need a funded Kinesis account. If you don’t have one, you’ll be redirected to the Kinesis sign-up page to register.
Can I use Kinesis Pay with both Individual and Business accounts?
Yes, Kinesis Pay is available to both Individual and Business account holders. Designed for flexibility and scale, the solution supports everyone - from large corporations to small, independent sellers.
Getting started is simple. As long as you meet the Kinesis Pay Terms and Conditions, you can connect your merchant website and start receiving payments in gold, silver and digital assets for your products or services.
What yield do I earn using Kinesis Pay?
Holder’s Yield - Merchants can earn Holder’s Yield if they choose to keep their earned gold (KAU) and silver (KAG) in their Kinesis accounts. Through sharing transaction fee revenue with users, Kinesis can offer users a passive monthly yield on their precious metals holdings - without them taking any action.
15% of the Kinesis Master Fee pool is allocated to the Holder’s Yield Fee pool and distributed to eligible participants based on the amount of gold and silver they hold with Kinesis.
Referrer’s Yield - Kinesis Pay presents a valuable earning opportunity for users who refer businesses to the platform. When you refer a merchant, you’ll receive the Referrer’s Yield – 7.5% of every transaction fee they generate, whether through Kinesis Pay or elsewhere on the Kinesis system.
Merchants can also earn the Referrer’s Yield by introducing new users to Kinesis. If those users make purchases through Kinesis Pay, the standard 0.45% fee contributes to the total fee pool, from which the Referrer’s Yield is distributed.
Is Kinesis Pay available for Desktop and Mobile?
Kinesis Pay is predominantly a desktop functionality, with the full range of its features available through the Kinesis Pay merchant tab of your Kinesis account.
However, a few selected Kinesis Pay features are accessible through the mobile application. For instance, a purchaser may choose to scan the QR code via the mobile app to make their payment, offering a direct, streamlined option without the need for any payment card details.
Are merchants charged for using Kinesis Pay?
No. All Kinesis Pay transactions are free of charge for merchants.
Access to the Kinesis Pay payment technology is free for both merchants and purchasers. Anyone can create a Kinesis merchant profile at no charge, by downloading the Kinesis Pay SDK (Software Development Kit) and installing it on their website.
Is there a transaction fee for purchasers?
No, customers pay no transaction fee on purchases with gold and silver through Kinesis Pay.
How secure is Kinesis Pay?
All Kinesis Pay transactions are protected through multiple layers of security, providing a safer alternative to using a card online. Kinesis Pay ensures that your card details are never shared with anyone and never stored, either by Kinesis or on your device, so your privacy remains fully protected at all times.
Instead of sharing your personal information with the merchant, Kinesis Pay generates a unique encrypted number/QR code to share with the seller, who only receives the information you authorise to complete the purchase - such as your name, email, billing and shipping addresses.
Set up Kinesis Pay as a merchant with this guide.
Find out how to use Kinesis Pay here.