How PIK Payment Works - PIK Documentation

PIK is a crypto-native payment platform for non-China markets. Merchants accept USDT, USDC, and AUD — no card payments, no CNY.

Not supported: Card payments (Visa/Mastercard) and CNY are not supported on any PIK product.

Supported Payment Methods

Payment Method	Currency	How the Payer Pays	Settlement Speed	Best For
Crypto on-chain	USDT	Send to PIK-assigned wallet address	Minutes after on-chain confirmation	Cross-border, B2B, international
Crypto on-chain	USDC	Send to PIK-assigned wallet address	Minutes after on-chain confirmation	Cross-border, B2B, international
Bank transfer	AUD	Send to Virtual Account Number (BSB + account number)	1 business day (NPP faster)	Domestic Australian customers
Card payments	—	Not supported	—	—
CNY	—	Not supported	—	—

Stablecoin network: PIK assigns each connected account a dedicated wallet address for USDT and USDC. Always confirm the correct network with PIK before instructing customers to send. Contact hi@pik.global for current network details. Funds sent on an unsupported network cannot be recovered.

How Payments Work — Step by Step

Merchant creates a payment request via the PIK Dashboard or API, specifying amount, currency, and reference.
PIK generates a unique payment URL and QR code tied to that request.
Merchant shares the link with the payer.
Payer opens the link and sees the payment instructions — a wallet address (USDT/USDC) or BSB and account number (AUD), plus the exact amount and reference.
Payer sends funds — either an on-chain crypto transfer or an AUD bank transfer.
PIK detects the incoming transfer and matches it to the open payment request by amount, currency, and reference.
Funds are settled to the merchant PIK wallet in the received currency. No automatic conversion.
PIK fires the payment.settled webhook if configured, and redirects the payer if a redirect URL was set.

End-to-End Fund Flow

AUD Payment Path:

Payer's bank account
  → AUD bank transfer
  → Connected account Virtual Account Number (BSB + account number)
  → PIK AUD wallet balance
  → [Optional: FX conversion to USD / USDT / USDC]
  → Payout to external bank account OR crypto wallet

USDT or USDC Payment Path:

Payer's crypto wallet
  → On-chain transfer [network TBC]
  → Connected account wallet address
  → PIK USDT or USDC wallet balance
  → [Optional: FX conversion to AUD or USD]
  → Payout to external bank account OR crypto wallet

Payment Status Reference

Status	Meaning	What to Do
pending	Payment request created, waiting for funds	Share the payment link with your customer
received	Funds detected, pending final verification	Wait — no action needed
settled	Verified and credited to your PIK wallet	Funds available for use or payout
expired	No funds received before the link expired	Create a new payment link
underpaid	Amount received was less than requested	Create a new link for the shortfall, or accept the partial amount
overpaid	Amount received exceeded the requested amount	Refund the excess — see Refunds and Disputes

Handling Partial and Excess Payments

Underpaid: Funds received were less than the requested amount. The received funds are credited to your wallet. The payment request is closed — create a new payment link for the shortfall, or contact your customer to send the difference separately. Overpaid: Funds received exceeded the requested amount. The full received amount is credited to your wallet. You are responsible for refunding the excess. See Refunds and Disputes for how to issue a manual refund.

Fees

PIK charges a fixed fee per settled payment and a fixed fee per withdrawal. No percentage-based fees. For the full fee schedule, visit pik.global/pricings.

​Supported Payment Methods

​How Payments Work — Step by Step

​End-to-End Fund Flow

​Payment Status Reference

​Handling Partial and Excess Payments

​Fees