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Understanding Payment Processing

This guide covers all aspects of SpacePay’s payment processing system, including payment processing, and off-ramping capabilities. Understand how money flows through the SpacePay ecosystem.

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Payment Processing

SpacePay handles the complete payment lifecycle from initiation to settlement, providing a seamless experience for both merchants and customers.

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Payment Flow Overview

1

Payment Initiation

Merchant initiates payment through their ecommerce site using SpacePay’s API integration or SDK.
2

Payment Intent Creation

SpacePay creates a payment intent with the specified amount, currency, and customer details.
3

Customer Payment

Customer completes payment using one of the available payment methods.
4

Confirmation Monitoring

SpacePay monitors the blockchain for transaction confirmations and network finality.
5

Payment Completion

Once confirmed, the payment is marked as complete and funds are prepared for settlement.

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Supported Payment Methods

SpacePay offers three flexible payment options for your customers:
Customers can pay in guest mode with any crypto wallet they can connect:Supported Wallets:
  • MetaMask
  • WalletConnect
  • Coinbase Wallet
  • Trust Wallet
  • Hardware wallets
  • Direct transfers from centralized exchanges
Best for: One-time purchases, new customers, maximum flexibility
Customers can use a SpacePay Smart Account for payments: Features:
  • Top-up the account with cryptocurrency
  • Use account balance for payments
  • Convenient for frequent customers
  • Faster checkout experience
Best for: Regular customers, subscription services, frequent purchases
Customers can connect and pre-verify their wallets:Benefits:
  • Connect wallets for faster checkout
  • Pre-verified for enhanced security
  • Streamlined payment experience
  • Reduced transaction friction
Best for: Returning customers, security-conscious users, frequent transactions

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Supported Blockchain Networks

Multi-Chain Support

SpacePay accepts payments across multiple blockchain networks: - Ethereum
  • ETH, USDC, USDT - Polygon - POL, USDC, USDT - Binance Smart Chain - BNB, USDC, USDT - Base - ETH, USDC, USDT - Avalanche - AVAX, USDC, USDT

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Payment States

Understanding payment states helps you provide better customer experience:
Payment has been initiated but not yet confirmed on the blockchain. Customer has started the transaction process.
Transaction is being processed on the blockchain. Waiting for network confirmations.
Payment has been confirmed on the blockchain and is considered final. Funds are available for settlement.
Payment failed due to network issues, insufficient funds, or other errors. No funds were transferred.
Payment was not completed within the allowed time window and expired automatically. Customer needs to initiate a new payment.
Payment was cancelled by the merchant before completion. No funds were transferred.

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How SpacePay Processes Payments

SpacePay handles the complete payment lifecycle with a simple, automated process:

Payment Processing Flow

1. Payment Creation: When you create a payment, it’s defined in USD and we provide real-time cryptocurrency quotes.2. Token Reception: We receive the cryptocurrency tokens from your customers on the specified blockchain network.3. Validation: Our system validates that the correct amount of tokens was received and confirms the transaction on the blockchain.4. Offramping: Once validated, we handle the offramping process to convert the cryptocurrency to your preferred settlement currency.

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Next Steps

Now that you understand how SpacePay processes payments, explore these related topics:

API Reference

Detailed API documentation for all payment operations.

SDK Integration

Use our SDKs for easier integration in your preferred language.

Webhook Setup

Set up real-time notifications for payment events.

Security Best Practices

Learn about security measures and compliance requirements.