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How do crypto payments work?
How do crypto payments work?

Find out how to make payments with crypto

Vanessa Teo avatar
Written by Vanessa Teo
Updated over a week ago

To pay an expense in crypto, your recipient does not need to accept crypto. The payment will be funded in crypto through your wallet but your recipient will receive fiat currency in their designated bank account.
To get started, select the type of domestic payment you are looking to pay (Rent, Invoices, Tax, Salaries) and click on 'Crypto' to proceed.

On the 'Review and pay' page, you will be able to select the cryptocurrency you would like to pay with. Once you click confirm, send the required amount by scanning the QR code, or by copying the destination wallet address. At this point, the crypto exchange rate will be displayed.

Once the required amount of crypto is sent to the correct address, ipaymy will automatically detect the payment and provide you with a confirmation message. You will receive a confirmation email once the payment has been successfully processed. Your recipient will receive the payment in fiat the next business day.

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