PIK is a crypto-native payment platform that lets merchants and platforms accept payments in both fiat and digital currencies — including USDT — 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, HKD, and SGD. It is designed for businesses that operate cross-border and need efficient, low-cost alternatives to traditional payment rails.
The PIK payment model
PIK payments work on a push model. The payer initiates a transfer — either from a bank account or a crypto wallet — and PIK receives, verifies, and credits the funds to the merchant’s PIK wallet. There is no card network involved. PIK does not process card payments. The core payment flow is: Step 1 — A payment is created. The merchant or platform generates a payment request, either 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. The payer transfers the exact amount to the PIK-assigned receiving address or account number. For USDT payments this is a Solana wallet address. For AUD payments this is a local BSB and account number. Step 3 — PIK detects and verifies the transfer. PIK monitors incoming transactions and matches them to open payment requests by amount, currency, and reference. 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. From there the merchant can hold, convert, or pay out the funds.Payment types
PIK supports two primary payment types: Crypto payments (USDT on Solana) — Payers send USDT directly to a PIK-assigned Solana wallet address. Settlement is near-instant once the transaction is confirmed on-chain. This is PIK’s primary payment rail for cross-border and B2B transactions. Fiat payments (AUD via bank transfer) — Payers send AUD via bank transfer to a PIK-assigned local account number. Settlement occurs once the inbound transfer clears, typically within one business day.Fees and settlement
PIK charges a fixed fee per transaction and a fixed fee per withdrawal. There are no percentage-based fees. The exact fee schedule is defined in your PIK merchant agreement. Settlement is always into the merchant’s PIK wallet in the currency of the payment received. PIK does not automatically convert received funds. If you receive USDT and want AUD, you initiate an FX conversion separately via the PIK Transactional FX engine.Payment statuses
- pending — Payment request created, waiting for funds to arrive.
- received — Funds detected on-chain or via bank transfer, pending final verification.
- settled — Funds verified and credited to the merchant wallet.
- expired — No funds were received before the payment request expired.
- underpaid — Funds received but the amount was less than requested.
- overpaid — Funds received exceeded the requested amount.