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PIK is a crypto-native payment platform that lets merchants and platforms accept payments in both fiat and digital currencies — including USDT and USDC — and settle funds into multi-currency wallets. Payments on PIK flow through a simple lifecycle: a payment is initiated, funds are received and verified, and the settled amount is credited to the merchant’s PIK wallet. PIK is built for non-China markets with a primary focus on AUD, USD, USDT, and USDC. It is designed for businesses that operate cross-border and need efficient, low-cost alternatives to traditional payment rails. PIK does not process card payments.

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The PIK payment model

PIK payments work on a push model. The payer initiates a transfer and PIK receives, verifies, and credits the funds to the merchant’s PIK wallet. The core payment flow is: Step 1 — A payment is created. The merchant or platform generates a payment request via a Payment Link or directly via the PIK Payments API. The request specifies the amount, currency, and reference. Step 2 — The payer sends funds. For USDT or USDC payments the payer transfers to the PIK-assigned crypto address. For AUD payments the payer transfers to the connected account’s Virtual Account Number. Step 3 — PIK detects and verifies the transfer. PIK monitors incoming transactions and matches them to open payment requests. Once matched, the payment is marked as received. Step 4 — Funds are settled to the merchant wallet. The settled amount is credited to the merchant’s PIK wallet in the received currency.

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Payment types

USDT and USDC (on-chain) — Payers send stablecoins to a PIK-assigned wallet address. Settlement is near-instant once confirmed on-chain. Recommended for cross-border and B2B transactions. AUD via bank transfer — Payers send AUD to the connected account’s Virtual Account Number. Settlement occurs once the inbound transfer clears, typically within one business day.

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Fees and settlement

PIK charges a fixed fee per transaction and a fixed fee per withdrawal. There are no percentage-based fees. Settlement is always into the merchant’s PIK wallet in the currency received. PIK does not automatically convert received funds — if you receive USDT and want AUD, initiate an FX conversion separately.

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Payment statuses

  • pending — Payment request created, waiting for funds to arrive.
  • received — Funds detected, pending final verification.
  • settled — Funds verified and credited to the merchant wallet.
  • expired — No funds received before the payment request expired.
  • underpaid — Funds received were less than requested.
  • overpaid — Funds received exceeded the requested amount.