We want to inform you of an important change regarding the upcoming migration of the Polygon network from MATIC to the new POL token.
As per the recent announcement by Polygon (read the official announcement here), this migration will affect all chains that support the MATIC token on Polygon, Ethereum, and Polygon zkEVM.

Here's what you need to know about how this change impacts your integration with Transak.

🔄 Migration Overview:

🗓️ Migration Date: Starting September 4th, 2024, MATIC will be replaced by POL as the native gas token on the Polygon network.

↪️Automatic Conversion: For MATIC holders on the Polygon network, your MATIC will automatically convert to POL at a 1:1 ratio. No action is required from MATIC holders.

🤝Transak's Integration: Since we currently list MATIC on the Polygon chain only, the changes will apply specifically to the Polygon network.

📅 On-Ramp Timeline:

📅 Off-Ramp Timeline:

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We are committed to ensuring a smooth transition and are here to support you during this change. Please reach out to your Transak account manager if you have any questions or need further assistance.

Thank you for your continued partnership! 😊

Transak becomes the first global on-ramp to enable Wire transfers

Starting today, all the 350+ partners using Transak can provide US users with greater flexibility and convenience of seamless fiat-to-crypto on-ramp using Wire.

Key Highlights ⚡️

📲 New Payment Method: Wire transfers for transactions over $2,000.

💸 Lower Fees: Only 1%, making it more affordable than other options.

🔼 Higher Daily Limit: Users can buy up to $25,000 worth of crypto daily.

🔐 Enhanced Security: Available for users with level 2 KYC verification.

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⚙️Development Guide

To enable wire transfers for your widget, simply add the query parameter pm_us_wire_bank_transfer.

For the full details, check out our payment methods guide

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Wire Transfer vs. Other Payment Methods in the US 🇺🇸

👍

Summary

Wire transfers offer a significant advantage for users looking to make large cryptocurrency purchases. With lower fees, higher daily limits, and robust security measures, Transak's new payment method is designed to streamline and enhance the user experience.

As part of our ongoing efforts to optimize our services and comply with industry standards (Binance announcement), we are announcing a significant update to our platform.
Starting July 10, 2024, at 05:30 AM UTC, Transak will no longer support BNB (mainnet) and BAT Tokens on the BNB Beacon Chain, as Binance is set to deprecate its Beacon Chain and merge it with the BSC Chain.
This change applies to all our On-ramp and Off-ramp products.

Impact of Change: 💥

🔒 BNB and BAT will not be available for transactions (both buying and selling) on the BNB Beacon Chain network through Transak.
📝 Users are advised to complete or cancel any pending transactions involving the mentioned tokens.
🚫 Any attempts to transact with BNB or BAT on the Beacon Chain will not be processed.

Action Required: 🚨

We urge all our partners and users to update their systems accordingly to ensure a seamless transition.

Please remove or disable BNB and BAT options on your platforms for the BNB Beacon Chain network to prevent any user inconveniences or transactional errors.

Support and Queries: 🤝

We understand that changes like these can be challenging. Our team is here to assist you in making this transition as smooth as possible. For any queries or assistance, please do not hesitate to reach out to us at [email protected].

We appreciate your understanding and cooperation as we continue to evolve our platform to better serve your needs. Thank you for your continued partnership and trust in Transak.

We have now enabled Mastercard payouts in the United States!

Users in the US region can now experience seamless Off-Ramp capabilities via Mastercard, expanding our payment options for your connivence.

What's New:

💳 Mastercard Payouts
Along with Visa, we now support crypto Off-Ramp payouts directly to your Mastercard.

🚀 Enhanced Convenience
Enjoy faster, smoother transactions with Mastercard, ensuring a seamless Off-Ramp experience.

How to Use:

Experience the convenience of Mastercard payouts today.

Get orders API just got an upgrade ➡️ We've added a new filter query parameter for our API orders: filter[walletAddress].

This new addition allows you to search API orders based on the wallet address, making it easier to find specific transactions.

What's New?

↓ Filter Parameter: Added filter[walletAddress] for API orders.

🔎 Search by Wallet Address: Easily search and filter orders using the wallet address.

✅ Improved Order Management: Simplifies the process of finding specific transactions based on wallet information.

For more details, check out our documentation.

We are excited to announce the launch of our new tool, the Transak Query Parameters Generator, available on our website at Query Params Generator .

Play around with the parameters to test how you can completely customise the widget to work the way you want.

This tool is designed to help you experiment with various query parameters in a controlled sandbox environment.

It also offers detailed insights into our features, such as skipping the flow and customising the widget using our White label integration approach.

Experiment with different query parameters in an interactive sandbox environment to gain comprehensive insights and a deeper understanding of their capabilities, enabling easy customisation and faster onboarding, while accessing all supported fiat currencies and cryptocurrencies through our integrated APIs.

Introducing New Filtering and Search Capabilities

We're excited to unveil a set of powerful new filters designed to streamline your experience with the Transak partner dashboard.

With our latest update, you can now filter and search with greater precision, making it easier than ever to find the information you need in just a few clicks!

✅ What's New?

Experience the ease of enhanced filtering and search features with this latest update.

Find what you need, when you need it, with greater speed and accuracy. ⚡️

Are you looking to place a high order value from Transak?
Then this feature is for you. Transak has introduced a feature - Transak Whale to fulfil the request of HNIs and Corporates to process orders with higher transaction limits.

Key Features:

Orders with higher transaction limits enables a new flow “Continue to Transak Whale” (i.e 200K GBP)

User details are collected to seby clicking the CTA button. An automated email will be sent to guide you through the next steps.

This feature supports On/Off Ramps through Bank Transfers.

On Ramp:

Off Ramp:

Transak is at the forefront of enabling users worldwide to place orders using the USD fiat currency, thereby breaking down barriers and fostering financial inclusivity.

Bridging the Gap:

For users in regions outside the United Stateswho want to use On/Off Ramp in USD can often be a challenge due to the limited access. This feature allows users from the Transak-supporting countries to seamlessly interact with platforms utilising USD as their primary fiat currency.

The platforms integrating Transak's can benefit this by allowing users to transact in USDto expand their market reach through 170 cryptocurrencies on 75+ blockchains with 20+ local payment options.

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Our partners can now simulate failed and refunded orders in the staging environment, allowing them to experience and handle negative scenarios.

How does this feature work?

Step 1: Add +refund prefix to test refund orders and +failed to test failed orders to your email address.

For Eg: If your Email address is [email protected] , then the refund and failed orders email should be of the below format:

Step 2: Complete payment using Card/Apple Pay/Google Pay or click on I Have Paid in the Transak order flow.

Step 3: Great! Now, the order will be either refunded or failed. The order status flow will then update to REFUNDED for the email address - [email protected] or FAILED for the email address - [email protected]

💡 Hint:

Gmail Plus Addressing: In Gmail, you can add a “+” symbol and any word you want to the end of your email address, and it will still reach your inbox.