Dealership Payments Onboarding
Merchants
Should I be worried about volatility in the cryptocurrency market?
Not at all. At Cion Digital, we immediately remove volatility risk by converting cryptocurrencies into US Dollars on transacting.
2. Can I send cryptocurrency to another cryptocurrency wallet?
Yes, if your dealership chooses to hold cryptocurrencies on your balance sheet, you can send them to another wallet. Any and all the cryptocurrency in the dealership's wallet is owned by the dealership.
3. How long will it take for a transaction to finalize?
Cryptocurrency transactions depend upon their blockchain network and the congestion at any given time, but typically, most transactions can be done within less than 5 minutes.
4. How much cryptocurrency knowledge do I need to know before I can use the Cion Digital Platform?
The Cion Digital Platform allows finance managers and sales representatives to easily and quickly navigate the process without prior knowledge about cryptocurrency. As employees navigate each payment screen, there will be prompts where the car buyer can answer all the questions.
5. What type of cryptocurrencies can we accept from our buyers?
BTC - Bitcoin
ETH - Ethereum
BCH - Bitcoin cash
LTC - Litecoin
PAXG - Paxos Gold
MATIC - Polygon
USDT - Tether
USDC - USD Coin
6. What if a buyer didn’t send the full amount they were supposed to send?
The final screen on the payments portal will show how much of the payment has been completed. If the full payment was not completed, then the screens will show partially fulfilled. This is a real-time tracker that will update automatically to the fulfilled status once the full payment has been completed.
7. What if a buyer sends more cryptocurrency than expected?
Please have the dealership reach out to the Cion Digital team to review your case.
8. I left the payment link screen, can I go back to it?
Merchants can easily click on the payments menu and click in the payments ID to repopulate the information that was pulled.
9. How long does it take to create an account and register with Cion Digital?
Creating an account and registering takes around 10 minutes. Simply go to app.ciondigital.com and click Create a new Cion Digital account.
10. If I have a problem with the Cion Digital Platform, how can I reach out for support?
For any problems not outlined in this document, please reach out to Cion Digital through the chat feature on the website ciondigital.com or reach out to [email protected].
Buyers
What cryptocurrencies can I pay with?
BTC - Bitcoin
ETH - Ethereum
BCH - Bitcoin cash
LTC - Litecoin
PAXG - Paxos Gold
MATIC - Polygon
USDT - Tether
USDC - USD Coin
2. Am I restricted on where my funds come from (ie. exchange, wallet, ledger etc.)?
There are no restrictions. All exchanges, wallets, and offline (cold) storage will work on the Cion Digital platform.
3. Can I do a partial down payment with Fiat (USD) and then the rest in cryptocurrency?
You can do partial down payments with Fiat currency and pay the rest with crypto. Please work with your sales rep and finance manager to determine the terms.
4. How fast do transactions take?
Cryptocurrency transactions depend on their blockchain network and the congestion at any given time. Typically the majority of transactions can be done within less than 5 minutes.
5. Will I be notified when the payment arrives at the dealership?
You will receive an email confirmation of the payment being complete. Additionally, you can check on the status of the transaction through the blockchain.
6. Do I need to go through KYC to do the payment? Which documents can I use to complete my KYC?
No KYC is required to receive a payment with Cion Digital, although the dealership has its own terms and will ask for personal information.
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