ars333
Registered Member
- Nov 5, 2024
- 74
- 49
Tell me why this would not work.
I was using Alchemy Pay:s on-ramp the last weeks for customers, it was KYC-free for a couple hundred $, but it seems that the user experience of users seeing "crypto" and exchanging FIAT -> Crypto scares them as conversions have plummeted.
Anyway, here's my idea, and please do tell me if you see any problems with the TECHNICALITY of this solution, not here for moral guidance.
I found an on-ramp, they have no KYC until $1000, I am avoiding saying their name as to not get their attention. The site demands only a phone number and verification SMS until the $1000 spend limit is reached, they also store CC information and only require the CVV code to complete a purchase, therefore all customer data is stored on their end safely, never with our platform.
Technically, if I have my own site with a good UI where we store ONLY the users phone number so they instantly get a SMS where they enter the 4 digit code, and the CVV we could use a user-bot to fill out the missing details on said payment on-ramp.
I am trying to figure out what systems could be in place to prevent this,
My hope is that this will improve the user experience, increase conversions for both sellers and for the on-ramp, everyone should be happy.... right?
I was using Alchemy Pay:s on-ramp the last weeks for customers, it was KYC-free for a couple hundred $, but it seems that the user experience of users seeing "crypto" and exchanging FIAT -> Crypto scares them as conversions have plummeted.
Anyway, here's my idea, and please do tell me if you see any problems with the TECHNICALITY of this solution, not here for moral guidance.
I found an on-ramp, they have no KYC until $1000, I am avoiding saying their name as to not get their attention. The site demands only a phone number and verification SMS until the $1000 spend limit is reached, they also store CC information and only require the CVV code to complete a purchase, therefore all customer data is stored on their end safely, never with our platform.
Technically, if I have my own site with a good UI where we store ONLY the users phone number so they instantly get a SMS where they enter the 4 digit code, and the CVV we could use a user-bot to fill out the missing details on said payment on-ramp.
I am trying to figure out what systems could be in place to prevent this,
My hope is that this will improve the user experience, increase conversions for both sellers and for the on-ramp, everyone should be happy.... right?
