📄Glossary

Crypto acquiring basic terms

Merchant

An individual or organization with access to Inqud's API and authorized to use the Crypto Acquiring API.

User

Or end user (interchangeably), a customer of a merchant who will pay in cryptocurrency for the merchant's services or goods.

Project (Widget)

A core entity of crypto acquiring, linking all operations within its scope. Merchants can create checkouts for users, setup notification about its status.

Auto-Convert

After a user sends money to the address specified in the request, Inqud processes the payment and automatically converts funds to USDC.

Checkout

An invoice with a specified amount, which can be in any currency. Users can open checkout page and perform a payment. Inqud handles the conversion between the checkout currency and the user-pay currency. Checkouts outs can be of two types: FIXED_PRICE (with a specified amount) and NO_PRICE (without a specified amount).

Payment

A payment refers to an actual incoming transaction processed by Inqud, which is visible on the Wallets page in the user's Cabinet.

Callback/Webhook

A notification sent by the Inqud system to the merchant's backend to propagate information about checkouts. Callbacks enable real-time updates on payment status and other transaction-related events.