Circle Pay CLONE
The Circle Payments API allows you to accept payments from your customers via standard means including debit and credit cards, bank accounts, and more, and get USDC settlement. Businesses can accept on-chain payments on compatible blockchains if their users already have USDC.
The Circle Payments API is built on Circle's considerable expertise processing millions of card payments since 2014.
You can use the Circle Payments API to:
- On your commerce app or website, accept card and bank transfer payments for goods and services.
- Create a credit and debit card on-ramp, as well as a bank transfer on-ramp, for your cryptocurrency exchange.
- For your savings, lending, investing, or P2P payments offering, accept card or bank transfer deposits.
- Directly accept USDC payments via on-chain transfers.
CIRCLE PAYOUT API CLONE :
You can pay your customers, merchants, or suppliers in a variety of ways using the Circle Payouts API:
- Wire transfers between banks
- ACH USDC transfers on-chain (coming soon)
- Your USDC-denominated Circle Account, which may accept deposits through both traditional and blockchain payment rails, is used to fund payouts.
CIRCLE ACCOUNT API CLONE
- The Circle Accounts API enables you to effortlessly create and maintain accounts and balances for your clients, as well as conduct transfers of payments between accounts - whether within the Circle platform or via on-chain USDC connection in and out of the platform.
- Our APIs abstract the complexities associated with digital asset custody and security, as well as blockchain address maintenance and transaction fees.
You may use the Circle Accounts API to:
- Integrate US Dollar accounts into your product or service without having to deal with the complexities of traditional bank account systems.
- Manage a multi-asset account infrastructure for your customers, including seamless fund transfers between hosted accounts or via USDC connectivity on-chain.
- Accept USDC deposits at a low cost and with no risk of reversals.
What exactly is USDC, and how does it work?
- USD Coin (USDC) is a fully collateralized stablecoin backed by the US Dollar.
- You might be wondering what a stablecoin is. A stablecoin is a digital currency that aims to keep its price constant in relation to a "stable" item. The value of a stablecoin can be "pegged" to fiat money, gold, other digital currencies, exchange-traded commodities, and so on. Collateralization or an algorithm that executes some type of monetary policy are usually used to keep the "peg" in place.
- The price of USDC is obviously set at $1. Its peg mechanism employs a straightforward 100 percent collateralization strategy. This indicates that there is $1 in collateral for every 1 USDC token in circulation.
What is the significance of USDC in the context of Circle APIs?
- We at Circle have always imagined a world where "everyday money" like dollars, euros, yen, and other currencies might inherit the most powerful features of digital currencies like bitcoin:
- open, global, connected to anybody and everything on the internet; transmission is quick, inexpensive, and secure.
- Representing and storing "money," as well as performing "money" transfers, are becoming increasingly important competencies for enterprises. Taking payments, transacting with partners, engaging in internet commerce, and conducting various types of financial transactions are all examples of capabilities that typically involve representing and storing money in a bank account, as well as handling transfers through traditional payment processing solutions. These solutions are usually closed, regional, difficult to obtain, slow, and expensive from a technological standpoint.
- Developers and businesspeople all across the world have an option with this strategy. The option of designing products and trade in a way that is not just more open, global, faster, and less expensive, but also one in which the concept of money is extensible and programmable.
- USDC has already been implemented into everything from digital wallets and exchanges to securities platforms, trade finance systems, payment products, savings and lending, and even games, and has become a crucial piece of infrastructure for hundreds of enterprises around the world.
Payments by Credit Card :
- We require a minimum amount when establishing a payment since Circle charges a processing fee that includes a fixed sum and a % for card payments. This is to prevent you from losing money on a payment.
Transfers through Bank Wire :
- Circle does not impose any minimum or maximum amount restrictions on bank wire transfers (whether payments or payouts). If you initiate bank wire transactions below specific limits, your bank may restrict them.
Payments by ACH :
- The maximum value of an ACH transaction is $25,000 per transaction. This limit also applies to ACH disbursements.
- A minimum of $0.50 is required for both ACH payments and payouts.
Transfers under the SEPA :
- SEPA credit transfer payments must be less than $1 billion per transfer. SEPA quick transfers are limited to $100,000 per transaction.
- Payouts made with SEPA credit or immediate transfers are capped at $3 million per transaction.
Other Methods of Payment :
- We're always on the lookout for additional payment rails to support. Once the parameters for maximum and minimum amounts on certain payment methods are available, we will publish them.
Limits :
- There are no set limits on the amount of individual or aggregate payments / payouts you can make using the API. Circle may require you to maintain a minimum amount on your Circle account, depending on the payment method you use.
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