Frequently Asked Question
Listed questions and answers, all supposed to be commonly asked in some context, and pertaining to a particular topic.
General
What is Bleumi Invoice?
Bleumi Invoice allows users to Create & Send unlimited invoices and also Accept Online Payment in 3 easy steps.
For Invoicer
How do I create & send an Invoice?
To create & send an invoice, the Invoicers must,
1. Click the New Invoice option after Sign In
2. Fill in the details of the Invoice and click Send Email
How can I accept payments for my Bleumi Invoice?
The Invoicer can accept online payment for your Bleumi Invoice using BleumiPay. Invoicers can also provide alternative payment instructions by using the notes field within the Bleumi Invoice.
How do I accept online payments?
To accept online payments, the invoicer must,
1. Create the Invoice for which the payment has to be made.
2. Select the ‘Accept Online Payment’ option.
3. Select the stablecoin required. (USDC/PAX)
4. Provide the stablecoin address to which the payment should be made to.
a. In case of USDC,
(i) Sign into your Coinbase account and use your USDC Wallet Address (available under “Accounts > USDC Wallet > Receive”) as the stablecoin address or
(ii) Sign into your Circle account and use “Your Circle Account Public Address” (available under “TRANSFER USDC IN” menu) as the stablecoin address
b. In case of PAX, sign into your Paxos account and use “Your Redeem Address” (available under “Redeem Pax” menu) as the stablecoin address
5. Once the client makes the payment, The received funds will automatically be linked to the bank account and converted to Fiat in case of Paxos where as, the money is kept safe in Coinbase or Circle for USDC from where it can be transferred to the Invoicer’s bank account.
What is Cancel & Refund?
Cancel & Refund option allows the Invoicer to refund the partially paid invoice amount back to the client and cancel the invoice.
What is Settle & Withdraw?
Settle & Withdraw option allows the Invoicer to withdraw the partially paid invoice amount to their account and settle their invoice. This may be exercised for many reasons. E.g. Disputes between the invoicer and the client.
For Client
How do I pay for a Bleumi Invoice?
To pay a Bleumi Invoice the you must,
a. Click the View & Pay button on the Invoice mail sent to your email address.
b. Click on Pay Now.
c. On “Refund Address” modal dialog, enter your stablecoin address to which the refund (if any) should be made to.
(i) In case of USDC,
1. Sign into your Coinbase account and use your USDC Wallet Address (available under “Accounts > USDC Wallet > Receive”) as the refund address or
2. Sign into your Circle account and use “Your Circle Account Public Address” (available under “TRANSFER USDC IN” menu) as the refund address
(ii) In case of PAX, sign into your Paxos account and use “Your Redeem Address” (available under “Redeem Pax” menu) as the refund address
d. Click on Continue.
e. On “Waiting for Payment” modal dialog, click on “Copy Address” to copy the address to which the payment should be made to and complete the payment.
(i) In case of USDC,
1. Sign into your Coinbase account and,
a. Go to “Accounts > USDC Wallet > Send”
b. Paste the copied address in “Recipient” field
c. Enter your Invoice due amount in “Amount” field and continue and confirm your transaction or
2. Sign into your Circle account and complete the payment by following the on-screen instructions available under “TRANSFER USDC OUT” menu
(ii) In case of PAX, sign into your Paxos account and complete the payment by following the on-screen instructions available under “CONVERT TO PAX”
f. Once Bleumi receives the payment, Payments are dispatched to the Invoicer’s account within 2 – 3 hours. However, payments will be delayed if there are processing delays within the Ethereum network.
What is Refund address and why should I provide one?
When the client pays their invoices through BleumiPay, a refund address would be required to carry out the transactions. A refund address is the stablecoin address a client provides at the time of payment so that Bleumi can refund any excess payment back to the client if deemed necessary.
When would the client receive a refund?
Clients would receive a refund when,
1. The Client pays more than the Invoice due amount in which case Bleumi would transfer the Invoice due amount to the Invoicer and refund the balance back to the Client.
2. The Invoicer cancels the existing invoice to raise an updated amount or a new invoice where BleumiPay would transfer the already paid amount back to the client.
Bleumi Pay
What is BleumiPay?
BleumiPay is an online payment solution that empowers individuals and businesses irrespective of their location to send and accept quick and secure payments using stablecoins (backed by a currency) for only a fraction of conventional fees.
What are stablecoins?
Stablecoins are cryptocurrencies designed to minimize the effects of price volatility of conventional cryptocurrencies.
To minimize volatility the value of a stablecoin is backed by a currency, or by a exchange traded commodities (such as precious metals or industrial metals)
To minimize volatility the value of a stablecoin is backed by a currency, or by a exchange traded commodities (such as precious metals or industrial metals)
Why BleumiPay only accepts currency backed stablecoins?
Stablecoins backed by currencies or commodities directly are said to be centralized and are relatively cheaper to transact compared to conventional currency and cryptocurrencies across the world.
What all stablecoins does BleumiPay support?
Bleumi Pay supports the following stablecoins:
- Backed by US Dollar on Ethereum Blockchain:
- DAI
- GUSD
- PAS
- TUSD
- USDC
- Backed by US Dollar on Stellar Blockchain:
- WSD