1. What is MaiCoin PAY?
MaiCoin PAY is a payment service provided by MaiCoin that enables consumers to purchase goods or services from merchants using cryptocurrency. Consumers can pay merchants directly using the crypto balances in their MaiCoin wallet. MaiCoin PAY is a simple, instant, and secure cryptocurrency payment service.
2. Can I use MaiCoin PAY with my account?
- You must complete identity verification at Level 1 or above to use the MaiCoin PAY payment service.
3. Which cryptocurrencies does MaiCoin PAY support?
- MaiCoin PAY supports USDT, USDC, MAX, BTC, and ETH. The actual currency accepted is chosen by the merchant and may vary from one merchant to another, so please confirm with the merchant at the time of payment.
4. What payment modes does MaiCoin PAY offer?
- Scan to Pay – Use your camera to scan the QR code provided by the merchant.
- Show to Pay – Display your payment code for the merchant to scan the QR code or barcode.
Paying with MaiCoin PAY
5. How do I pay at an online store?
- On mobile: At checkout in the online store, select MaiCoin PAY. You will be automatically redirected to the MaiCoin App, which will display the payment details for you to confirm and complete the payment.
- On desktop: At checkout in the online store, select MaiCoin PAY. The web page will display a payment QR code. Use the MaiCoin PAY feature on the MaiCoin App home screen to scan the QR code and complete the payment.
6. How do I pay at a physical store?
- Scan to Pay: After the store enters the checkout amount, it presents a QR code to the consumer. The consumer uses the MaiCoin PAY feature on the MaiCoin App home screen to scan the QR code and complete the payment.
- Show to Pay: The consumer presents their payment code for the store's POS terminal to scan the QR code or barcode, completing the payment.
7. How long does it take to complete a transaction?
- It completes instantly. Once you tap to confirm the payment and pass security verification, the cryptocurrency is immediately deducted from your wallet and the payment is completed. MaiCoin PAY payments are not recorded on-chain.
8. How do I confirm whether a payment was successful?
- You can view the payment result in real time on the App screen, or check it on the transaction history page.
9. Are there any transaction fees?
- MaiCoin PAY payments are free of charge.
10. Are there any rewards for payments?
- This depends on platform or merchant promotions. Follow the MaiCoin LINE Official Account to receive the latest promotion and offer updates.
11. Are there any restrictions on refunds?
- You cannot cancel an order through MaiCoin PAY. If you need a refund, please contact the merchant, who will help you initiate the refund.
- If MAX token rewards were issued when the order was placed, the equivalent value of those rewards will be calculated in the original payment currency and deducted from the refund amount upon refund.
- If your account has a record of frequent transaction cancellations and is flagged by the system as abnormal, your MaiCoin PAY payment function will be locked for 24 hours.
12. What are the possible reasons for a failed payment?
- You can view the reason for a failed payment in real time on the App's payment screen or transaction history page. Common reasons include:
- Order expired: You can rebuild the order or make the payment again by following the merchant's instructions.
- Insufficient balance: You can receive or purchase cryptocurrency to obtain a sufficient balance.
- You may also contact the MaiCoin Customer Support Center to check the payment details.
13. What should I do if I forget my payment password?
- You can reset your payment password via "Forgot password?", but 2FA verification is still required.
- If you enter an incorrect payment password 5 times (inclusive) in a row, your MaiCoin PAY payment function will be locked. Please contact customer support to unlock it.
- Resetting your payment password (whether via "Forgot password" or "Reset password") will trigger a system notification email. If this was not done by you, please immediately click "Freeze Account" in the email and contact customer support right away.
How to become a MaiCoin PAY merchant
Please contact MaiCoin to set up an account and sign the relevant contracts. For more information, please refer to the MaiCoin PAY website.