Crypto ramp providers

Copy for LLM

• Copy for LLM

  Copy page as Markdown for LLMs
• Open in ChatGPT

  Get insights from ChatGPT
• Open in Claude

  Get insights from Claude
• View as Markdown

  Open this page as Markdown

Crypto ramp providers facilitate the conversion from fiat currencies (e.g. USD) to non-fiat currencies (e.g. cryptocurrency), or vice versa. Card networks require ramp provider merchants to include special indicators in their authorization requests to identify the type of ramp transaction. Merchants who have contracted third-party conversion affiliates for conversion services must also submit relevant affiliate data in their authorization request.

Special transaction indicator

From October 2024, Visa introduced a new mandate to include special transaction indicators to increase transparency and clarify dispute rules for digital currency and NFT transactions. Those new indicators apply to all forms of non-fiat digital currencies and identify whether the purchase is for:

• CBDC or tokenized deposit
• Stablecoin (fiat-backed)
• Blockchain native token or coin
• Cryptocurrency
• NFT

Code example

{
  (...)
  "instruction": {
      "fundsTransfer": {
          "type": "purchase",
          "purpose": "stablecoin"
      }
  }
  (...)
}

Relevant "purpose" values:

• blockchainNativeToken
• crypto
• stablecoin
• nft
• cbdc

Conversion affiliate data

Conversion affiliates are third-party entities contracted by a ramp provider to assist in the conversion services between fiat and non-fiat currencies. Conversion affiliates of ramp providers include but are not limited to retailers, cryptocurrency exchanges, NFT marketplaces.

If the ramp provider uses conversion affiliates, they are obliged to submit the affiliate data inside the merchant.rampProvider object:

"merchant": {
    "rampProvider": {
        "reference": "123456778980",
        "conversionAffiliate": {
            "reference": "1234567890",
            "name": "Name",
            "url": "http://some-url-here.com",
            "taxReference": "987-654-4321",
            "address": {
                "countryCode": "US"
            }
        }
    }
}