FAQs

Here to help you

Onboarding

How does it work? How do I accept crypto payments as a merchant?

As a merchant, all you need to do is sign up, create an account and pass us the KYC document for review and processing. Or by applying for a sales representative’s call/visit over our website right here. Once accepted, merchants have full access to the website and can request a number of POS machines based on their Tier.

How do I sign a contract? And how do I get a POS machine?

Via eSigning. You can e-request your POS machine, and once collected you submit your e-confirmation.

POS

How much do I pay for the POS machine? and how much does it cost in case any damage happened?

You pay nothing for the POS machine. However, you pay 500 AED in case of any damages.

Does the POS support Visa, Mastercard & Apple Pay payments?

No.

Can I have more than one POS per branch? And how many POS machines can I get per account?

Yes, you can have more than one POS per branch. In case you have several branches, you can get from 1-500 POS machine based on your account Tier.

Are there any other benefits to the POS?

In the future, merchants will be able to:

Trade crypto from the main account
Accept payments in crypto without AED conversion
Add top-up payments

Security

How can I assure the security?

Any kind of activity like a login attempt, creating an invoice, or sending any kind of request is confirmed via emails/sms messages as well as the option for 2FA Authentication via authenticator apps.

What is the process of the KYC?

The current process for onboarding requires the following documentations from the merchant:

Valid trade license

Valid passport & visa copy for owners and all partners.

Valid EID for owner and all partners.

Power of attorney if available

Verified tenancy contract

As per the latest guidelines for Fintech by CBUAE which is encouraging the electronic process, we use a full electronic process for onboarding including signing for terms and conditions & privacy policy as an electronic KYC.

Settlement and Cashout

Refund process and policy?

In certain situations, if an invoice is underpaid or overpaid, it results in a “payment exception.” Shoppers will automatically receive a notification via email and/or SMS from Ventri to claim the underpayment or overpayment, where Ventri incurs miner fees to refund a payment, to be deducted from the refunded amount. The payment can be refunded only in the following cases:

If a shopper under-pays or over-pays
If a shopper sends payment after the time out

The refund process is done in 2 steps:

Merchant requests a refund by adding the shopper’s email and phone number or their refund address from their end
A link to add the refund amount is sent to the consumer via mail or SMS

What happens if I send a refund to the wrong destination address? And how long does it take for a refund and/or payment cancellation & How?

As a decentralized platform, we don't have control over any funds sent to the wrong addresses. There is no cancellation for any payments. Refunds can take up to 24 hours; we only have a refund policy for payment exception cases. If the invoice is completed or done, the refund gets settled from the merchant cash desk or bank account. In the future, we're planning to add refunds through the bank from our side.

How is the money collection/settlement working between consumer, merchant & VentriPay?

There’s no money collection cycle. Only money settlement between Ventri and the POS Owner (Merchant). The settlement will be through local bank transfer. Merchants will be able to request a withdraw from their account and Ventri transfers the funds in 3-5 working days.

How do I know when a payment is placed in my account?

Via email - SMS - platform push notifications or in the Platform Transaction History.

How long does it take to validate a transaction?

It depends on which cryptocurrency is in use for the transaction.

How do you deal with a fraud payment?

Decline the invoice and freeze the refund till our investigation/report is concluded and get a reply from the AML Authorities.

Will users be able to pay with different cryptocurrencies? And how does the system work out the currency value?

The user is able to choose from various kinds of tokens/coins to pay an invoice, where the payment can’t be split to different currencies. The token/coin prices are their live market prices.

What is the minimum & maximum transaction value a customer can pay in cryptocurrency?

The minimum transaction value depends on each coin/token but mainly starting from $3 and there’s no limit to the transaction; Users can pay up to 3M$ per invoice. There could be limitations of certain coins/tokens due to market impact/slippage.

Benefits

What are the benefits that Ventri brings to the merchant?

Stepping up and adopting crypto guarantees you a whole new customer base with an ever-growing payment method, a $1 trillion market exposure, as well as evolving with the surrounding environment and surfing the latest technological wave.

How is Ventri different as a payment provider?

We protect our merchants from losing any money by avoiding any volatility. This is done by settling AED directly to the merchant. To ensure the merchant’s utmost satisfaction, we indulge them with a wide range of features and measures like multiple accounts, access to analytics tools, 24/7 support, a banking grade security, and a dedicated account manager once the merchant passes tier 1.

Dashboard & Live Tracking

How do I get access to my dashboard? And how long does it take for access creation or to reset a password?

As soon as your KYC data passes our compliance, merchants get access to all our features. KYC compliance takes up to 48 hours.

How can I track my transaction live? And do I have access to the consumers’ database?

Anytime, anywhere through your transaction history on the POS machine or the website. Merchants don’t yet have access to consumers’ database.

What kind of reports do I get to track my business?

Merchants can view analytics reports with access to the pasts 30/90/120 days, like:

Total Transactions Value
Chart with Most Paid Currencies
Transaction Chart
Peak Hours
Chart Transactions Number Per all accounts

Merchants can also export all transactions history, withdrawal, requests, etc.

Can I get several accesses per account?

Yes, but each tier level has different limits for creating sub-accounts.

Customer Service

Where is your customer support team based? And how long is the SLA?

Our support team is based in Egypt, working 24/7 on a ticketing system where it could take from 10 minutes up to 12 hours to handle your ticket if there’s nothing exceptional (Such as ML, Fraud, Fake Transactions, etc.)