[In closed alpha] Offering your customers a frictionless payment experience
When a customer makes a USDC payment on Ethereum, they need to have Ether in their wallet to pay for transaction fees.
- 1.An added cost to the customer (that they would not pay if using a credit card).
- 2.Friction in the buying process as the customer may not have any Ether in their wallet.
Gasless payments solve these problems. By purchasing gas credits from Trelis, you allow Trelis to pay for your customer's gas when they make purchases with USDC.
- Rather than making a call to the blockchain, your customers will provide a gasless signature to approve their payment. The signature is limited to the price you charge for your product.
- Trelis takes this signature (which approves a payment for the specified amount from the customer's wallet to your wallet) and pays the gas required to submit the transaction to the blockchain.
- Trelis then subtracts this cost from the merchant's balance of prepaid Trelis gas credits.
- A standard USDC token transfer costs about 56,000 gas.
- A gasless USDC token transfer costs about 95,000 gas. More gas is required as the signature has to be processed.
- Trelis further applies a 10% service fee - calculated as a percentage of gas cost.
So, if a standard transaction costs $1.00 in gas, offering a gasless transaction will cost the merchant about $1.86.
- Gas Credits as a Service. While gas credits are measured in units of ETH, the purchase of gas credits from Trelis does not provide the buyer with any claim to Ether. Trelis does not custody funds for merchants or third parties. Trelis offers gas credits to support the service of paying for customer gas. Gas credits are not trade-able, refundable or redeemable. Gas credits expire after twelve months of inactivity - defined as a period in which no gas credits are spent.
Does Trelis have access to funds if I turn on gasless payments?
No. The signature provided by the customer specifically approves a payment of USDC from the customer's wallet to your wallet (the merchant).
As a merchant, why would I want to offer gasless payments?
- Customers don't pay transaction fees for credit cards, why should they pay them for crypto?
- Customers may not have Ether in their wallet. Paying for gas removes this friction.
Is there a gasless option for payments in Eth?
No, there is no gasless option for Eth payments.
What if gas prices are really high?
If there is a spike in gas prices, then gasless USDC transactions will revert to being standard transactions where the customer is required to pay for the gas.
Trelis reverts any transaction from gasless to standard if the total amount of gas payable exceeds 5% of the transaction amount.
What happens if I run out of gas credits?
If a merchant has insufficient gas credits for Trelis to cover the cost of a customer's gas, the transaction will revert to being a standard transaction where the customer pays the gas.
Are gasless payments available for other tokens?
Not at present but inquiries are welcome on Discord.