We are excited to announce that USDC processing is now out of beta and available to every Lumen Pay merchant, regardless of your plan or region. This update empowers businesses to accept stablecoin payments globally with the same ease as credit cards.
Why USDC?
USDC (USD Coin) is a fully reserved stablecoin, meaning every digital dollar is backed by cash and short-dated U.S. treasuries. It offers the speed of blockchain transactions with the stability of the US Dollar, eliminating the volatility risk associated with other cryptocurrencies.
Multi-Network Support
To ensure you and your customers have the best experience, we support USDC on three major networks:
- Ethereum (ERC-20): The industry standard for high-value transactions and institutional compatibility.
- Solana (SPL): Lightning-fast settlements (sub-second) with network fees typically under $0.01.
- Polygon (POS): A scalable layer-2 solution that balances speed and security.
Unified Checkout Experience
When you enable USDC, it appears seamlessly in your checkout modal alongside cards and mobile money. Customers can simply scan a dynamic QR code or copy the wallet address. Our system automatically detects the incoming transaction on-chain and marks the order as paid instantly—no manual verification required.
Flexible Settlement
You have full control over your funds. You can choose to:
- Auto-Convert: Instantly convert incoming USDC to your local currency (e.g., NGN, KES, ZAR) for settlement to your bank account.
- Hold: Keep the funds in your Lumen Pay USDC wallet to pay international suppliers or hedge against local currency inflation.
How to Enable
Head over to Settings > Payment Methods in your dashboard and toggle "USDC" to on. No code changes are required if you are using our standard checkout integration.