🙋 Partner FAQs

Partner Experience

How do I find my staging and production API keys?

  1. Go to the Partner Dashboard and login.
  2. Note the Environment drop down in the top right. This allows you to select Staging or Production for each page.
  3. On the left navigation panel click on Developers.
  4. Your API key and API secret are shown for the environment selected in the top right drop down.
  5. Change the environment selection to view your API key for Staging and Production.
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How to set the partner fee?

You can use the Settings page of the Partner dashboard to set the additional partner fee. Enter the desired percentage in FEE PERCENTAGE and click Update.

How to update our webHookUrl?

You can use Update Webhook endpoint to update your webhook url.

You can do it in both staging and production.

Widget

I'm passing parameters in the query but they're being ignored.

Check that you are passing the API key in the parameters. Some parameters can only be used by partners that have had their KYB approved.

You can find out more details about our ❓ Query Parameters.

To submit your KYB use the below link to verify your business and enable your API key for Production. https://share.hsforms.com/1TaZ3f1XMQhSTXd1aotPllg45oa1

How to display your call price (e.g 1 USD = 0.9453 USDT ) on our front end?

You can use our Get Price API for getting price.

These parameters are required to get response from the API.

"fiatCurrency" //eg: EUR
"cryptoCurrency" //eg: HIVE
"paymentMethod" //eg:sepa_bank_transfer
"partnerApiKey" //YOUR_API_KEY
"network" //mainnet 
"isBuyOrSell" //BUY
"fiatAmount" / "cryptoAmount" //Any one is required

Can we make a custom list of currencies instead of just one fiatCurrency in query parameters?

No, currently we are not supporting that feature.

How can we pass onClose event handler to the widget?

You can use TRANSAK_WIDGET_CLOSE event name.

You can find more about events here.

Is there a way to remove the chat button in the widget?

No, but you can hide the menu option using the query parameters, then the chat will also be disabled.

Is it possible to exchange fiat for crypto via the REST API?

No, we are not offering such API as of now.

How to prevent a user from editing the walletAddress?

You can use disableWalletAddressForm in our query parameters to achieve this.

You will need to pass the walletAddress. Then if disableWalletAddressForm is set to true then the wallet address screen will be skipped for the user.

If we set isDisableCrypto : true, is it possible that it will always show the result in USD when the first input is in EUR.

No, if you set isDisableCrypto : true then the crypto related info will not be visible to the end user and he can see the output in the selected fiatCurrency.

Can we send metadata to the widget that the web-hook will respond to this metadata and be able to match the operations?

Yeah you can pass meta data using partnerCustomerId & partnerOrderId and please refer Webhooks  to know more about web-hooks.

Please refer to our documentation about our integration ​here.

Users On Boarding

Do users have to do KYC each time they make a transaction?

No, users are only required to complete KYC once.

When their KYC is approved they only need to log into their Transak account to perform future transactions.
They can use the same KYC-approved Transak account with all of our partner integrations.

Can we pass Transak third party KYC via API for users instead of them going through Transak's KYC process?

Yes, we do support this feature. Please refer KYC Reliance for more details.

I want to integrate with Transak, how can i do it ?

Please refer Onboarding and Integration Process Overview.

I have two websites. Can I integrate in both websites with the same API_KEY?

If two websites are with same company then you can integrate with same API_KEY.

Otherwise you need to submit KYB for each company.

Is KYC required on the STAGING environment?

No it is not required in staging. You can use our Test Credentials in staging.

Is the Transak widget supported in any other languages than English?

As of now we support only English to communicate.

Gradually we will add other languages as well.

Payments

If a user makes a bank transfer how does Transak match it to the user?

We create a virtual bank account for each user and currency. So if a Transak user has only made GBP transactions they will be asked to transfer funds each time to a bank account that is unique to them. Any funds that are sent to that unique account are reconciled with transactions made by that user.

If the user transfers funds in multiple currencies they will be assigned a bank account for each currency.

If I make payment manually for an order how would Transak know I made the payment?

We create a virtual bank account for every user.

Using that, we track the payment.

How does Transak calculate prices and fees?

Transak is dedicated to being transparent about our pricing and fees. There are four variables that are used to calculate the total amount of cryptocurrency received for the chosen amount of fiat:

  1. Partner fee: P
    • A percentage charge applied on the transaction amount on behalf of the partner. This fee is configurable by partners.
  2. Transak fee: T
    • A percentage charge applied on the transaction amount on behalf of Transak. This covers the fiat processing costs so is set depending on the chosen payment method: credit/debit card or bank transfer. Our fees are set out ​​here.
  3. Network/Exchange fee: N
    • This is the sum of the blockchain transaction fees, or gas, that is paid to make the on-chain transfer of the crypto to the user’s wallet address, plus the withdrawal fee the exchange we are using to provide liquidity. These fees vary by blockchain network and cryptocurrency, as well as changing over time depending on network demand. This fee is set by the market not by us.
  4. Exchange rate: R
    • This is the conversion rate from fiat to cryptocurrency. It is calculated by taking an up-to-date quote of the market rate from multiple pricing services and adding a small slippage percentage. The slippage varies by cryptocurrency and is calculated according to the actual rate we are able to get in the market.

To calculate the total amount of cryptocurrency, C, for the specified amount of fiat currency, F, we calculate the total fees, deduct them from the fiat amount then convert the remainder to cryptocurrency at the market rate. The formula for this is as follows:

C =(F - (F x P% + F x T% + N) x R

So in the example screenshot below where the partner fee is 1% and the payment is a SEPA bank transfer, based on the market rates and blockchain transaction fees at the time:

C = (€1000 - (€1000 x 1% + €1000 x 0.99% + €0.59) x 0.0002482224
C = (€1000 - €20.49) x  0.0002482224
C = €979.51 x  0.0002482224
C = 0.24313632

Note that the market rate and network/exchange fee shown in the widget UI is an estimate. The final cryptocurrency amount the user receives is calculated when the fiat payment is settled.

Blockchain

Which Ethereum Testnet are you using?

Please refer to our list of Testnets.

Miscellaneous

I want to change my mobile/email. How can I do that?

Please reach out to our customer support at https://support.transak.com/hc/en-us

Or you can send an email to [email protected]

What is the API Rate Limit ?

We are allowing 40 requests per IP address in every 10 seconds. If you want to increase the limit then please contact us at [email protected]