The Most Capable NFT Checkout Solution for Web3 & Gaming

29 Nov 2023

Transak NFT Checkout 1

  • Transak announces its NFT Checkout Solution is now publicly available, following a beta launch that began on Decentraland and other Web3 platforms early this year.

  • Launching in beta enabled wider visibility of the payment challenges within the NFT industry and gaming. Thus, the development team were able to mark the critical pain points users face in interacting with or purchasing NFTs.

  • Transak’s NFT Checkout supports multiple NFTs in a single transaction and integrates with most leading blockchains and 170+ cryptocurrencies, eliminating token acquisition and gas fees complexities.

  • The product was built with developers in mind, making the entire integration process simple and efficient. 

  • Transak acquired the 5815 MCC code, which is the right banking code to sell NFTs,  drastically improving the approval rating of cards by 95%.

We're excited to introduce NFT Checkout, a revolutionary step forward in the realm of digital asset transactions. Our solution sets a new standard by delivering comprehensive support for multiple of NFTs, a wide array of cryptocurrencies, and diverse payment methods.  It's a key part of our commitment to facilitating real-world applications of NFTs (Non-Fungible Tokens) in web3 and gaming sectors.

How the evolving NFT Industry is facing user onboarding issues

The NFT industry is rapidly transforming, with real-world applications emerging globally. Major brands are increasingly adopting NFTs, from implementing loyalty programs to selling event tickets. However, leveraging NFTs remains a complex challenge due to infrastructural and skill-related barriers. This complexity extends to NFT marketplaces, which often find it difficult to attract users outside the circle of crypto-savvy individuals. Transak's NFT Checkout aims to address this issue, providing a streamlined payment process that appeals to both seasoned crypto users and newcomers. Additionally, the gaming industry is also exploring the potential of NFTs, using them to create unique in-game assets and experiences, further expanding the scope and appeal of NFTs.

What is Transak’s NFT Checkout solution

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Transak’s NFT Checkout is a user-friendly payment gateway allowing customers from 160+ countries to purchase NFTs using familiar methods like credit cards, debit cards, Apple Pay and Google Pay. In the backend, Transak supports 75+ Blockchains and 170+ Cryptocurrencies/In-Game tokens for flexible integration and seamless transactions, allowing users to bypass the complexities of token acquisition and gas fees. The entire process is streamlined for the user, with Transak managing the intricacies of compliance, payment methods, fiat-to-NFT conversions and even user-support.

How Transak’s Solution is the most capable solution in the market

Akin to traditional e-commerce platforms, NFT Checkout lets users purchase or mint multiple NFTs in a single transaction, enhancing convenience and efficiency. Transak has also achieved a remarkable 95% approval rate for transactions, significantly higher than industry norms, courtesy of its strategic acquisition of Merchant Category Code (MCC) 5815. This code communicates the lower-risk nature of NFT transactions to banks, optimizing the approval process and reducing rejections common under the MCC 6051 code.

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Already operational with the likes of Decentraland, Transak's NFT Checkout is rapidly gaining traction, with more partnerships anticipated over the next few weeks. Its self-serve nature makes it easily integrable by anyone, while the infrastructure remains adaptable for custom solutions, catering to diverse business requirements.

Transak also addresses common concerns like credit card fraud and chargebacks by offering 100% chargeback protection, managing all disputes and resolutions at no extra cost. The NFT Checkout is designed for businesses of all scales, with transaction limits ranging from as low as $0.01 to as high as $75,000.

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Yeshu Agarwal, Transak's Co-founder & CTO, states, "Our NFT Checkout doesn't just facilitate access to the future of commerce; it fundamentally transforms it. By eliminating the need for specific cryptocurrencies, we've simplified the transaction to a single fiat operation, as effortless as any online purchase. This, combined with the capacity to acquire multiple NFTs simultaneously, and our extensive transaction limits, empowers businesses of every size to fully exploit NFTs in their endeavours, devoid of complexity or compromise."

Transak's NFT Checkout signifies a forward leap in Web3 commerce, offering a user-friendly platform for seamless NFT transactions via fiat currency. This product embodies a dedication to expanding participation in the digital asset domain while upholding exceptional standards for transaction approval and security, addressing current usability challenges in the crypto and NFT arena.



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About the Author:

Transak Team