Payment SolutionsCryptocurrency

 

 

Ascent Cryptocurrency Program

Accepting cryptocurrency as a payment method is becoming more and more common as crypto becomes more popular and transitions from an investment tool into the mainstream. The travel industry is poised to become one of the industries that will benefit from this transition, especially those who provide high-end products.

As such, knowledge about cryptocurrencies and how to accept them for payment should be a priority for rental managers.

Ascent is proud to be able to offer the ability to accept cryptocurrency through the Ascent Cryptocurrency Program. We have partnered with NetCents to provide this service to the short-term and vacation rental industry. To get started accepting Cryptocurrency payments, the first thing you will need to do is sign up for a NetCents Business Account. More information about this program and the details of signing up for a NetCents account can be found below.

About Cryptocurrency

To help our clients, understand more about cryptocurrency, we have published several educational blog posts that will explain the fundamentals of cryptocurrency, define some of the most important terminology, and answer some of the most frequent questions we get about crypto.

• Let’s Talk About Crypto
• Let’s Talk About Key Crypto Terminology
• Accepting Cryptocurrency Payments: All Your Questions Answered

You can also find more information on cryptocurrency in our FAQ.

Cost of Accepting Cryptocurrency Payments

The cost to accept cryptocurrency through the Ascent Cryptocurrency Program is straightforward and depending on how you proceed once signed up, you may have the opportunity pass these fees directly to the consumer.

• 1.99% of the transaction value and 5 cents per transaction

Accepting Cryptocurrency Payments

Once you have opened your NetCents account, you have several options on how you can accept payments:

API Integration: Your rental management software provider can integrate the NetCents solution into your software through an integration to the Slim CD payment gateway and secure sessions. This integration will also provide additional security through IDVerify, the option to add-in the AscentZeroCost compliant surcharge program and much more. Contact your rental management software provider and let them know they should integrate to the Slim CD gateway.

Stand-Alone Product: If your rental management provider does not currently integrate to the Slim CD secure session product, you have two options to easily accept cryptocurrency outside of your software solution:

• NetCents provides business accounts with an online billing tool which will send the consumer an invoice with instructions on paying via cryptocurrency. The consumer will follow the invoice instructions to their digital wallet and authorize payment.
• For our clients that already use the Slim CD gateway, we can help you build a custom hosted payment page that can be sent to the purchaser, and they can pay directly via the invoice.

Sign up to accept digital/cryptocurrency payments with NetCents

The first step in the process of accepting cryptocurrency payments is to open a business account with NetCents. Their online portal will walk you through all the steps necessary to open your account. If you should have questions along the way, please feel free to reach out clientsuccess@ascentpaymentsolutions.com or you can get more information about the process by reading their online guide.

Part of the process of setting up your NetCents account, will be to provide them with documentation to verify your business. The documents are requested are a part of their Know Your Customer (KYC) process. 

Please have the following documents ready:

• Photo ID (KYC of the Authorized Signatory):
  • Use one (1) of the following documents: 
    • Driver’s License
    • Passport
    • Other form of government-issued photo ID
• Bank Account Details:
  • Use one (1) of the following documents: 
    • Cancelled Cheque / Bank Attested Letter
    • Bank Passbook
    • Account statement signed and stamped by the Bank
  • Please ensure your bank account details follow these guidelines: 
    • Business Name / Proprietor name and Account number should be printed on the cheque/Bank passbook/ account statement. This must match the business information that was KYC’d. 
• Company Proof:
  • Use one (1) of the following documents:
    • Regional State Registration certificate
    • Municipal Corporation Department Certificate/License
    • Certificate of Incorporation
    • A certificate of active corporate status
  • Please ensure your Company Proof follows these guidelines: 
    • Proof must be in the name of the business
    • Company / Trade name and business address should be visible
    • Trade Name should match with Registered Business Name and the legal name should match with Name of Proprietor
    • Registration Certificate / Business Proof should be in the name of the firm and should include a registered address
• Proof of Ownership/Beneficial Ownership:
  • Use one (1) of the following documents: 
    • Tax return with business attachments
    • Business Name Registration/DBA
    • Articles of Incorporation 
    • Names of all the directors as well as names and addresses of beneficial owners (25% ownership)
    • Certificate of corporation statues
• Standard Guidelines to be Followed for Each Document:
  • Documents uploaded should be clear and valid
  • A photo should be taken from the front and information should be clearly visible
  • Documents should not be handwritten
  • Every item of Company proof must be verified on a government website
  • You must cross-check the provided information on government websites to verify the validity of the information provided
  • The IDs of the Authorized Signatory must match the name associated with the proof of ownership