Sheepy - new cryptocurrency payment gateway

[Sheepy]

Sheepy is a cryptocurrency payment gateway that allows merchants to accept various digital currencies and handle large volumes of crypto payments.

The platform is an easy, powerful, and secure solution for accepting stablecoins such as Tether (USDT), USD Coin (USDC) as well as Bitcoin (BTC), Ethereum (ETH), XRP, and many more. Withdrawals with SEPA transfers are available for anyone with EU/EEA bank accounts.

Sheepy partners with PrestaShop, integrating its advanced cryptocurrency payment gateway into PrestaShop's e-commerce platform, enabling seamless digital currency transactions for online merchants.

The Sheepy payment module, specifically designed for PrestaShop, introduces a hassle-free approach for merchants to incorporate cryptocurrency as a payment option. Reflecting Sheepy’s commitment to innovation and user empowerment, the module boasts real-time exchange rate updates and a suite of features including API access, comprehensive transaction tracking, and custom invoice creation, alongside convenient auto-withdrawals.

Expanding its suite of solutions, Sheepy now offers the Mass Payouts feature, streamlining the process for businesses to execute bulk payments in cryptocurrency. This is particularly beneficial for companies that need to make numerous payouts simultaneously, offering them a cost-effective, secure, and efficient way to manage their disbursements.

Furthermore, Sheepy has introduced a new onramp solution tailored for iGaming merchants. This solution is designed to facilitate the easy, fast, and secure onboarding of players into the iGaming ecosystem, enabling them to deposit funds using cryptocurrencies. This addition not only enhances the payment options available for iGaming platforms but also opens up new avenues for user engagement and retention by leveraging the growing popularity and acceptance of digital currencies in the online gaming industry.

Create an account, verify it and start getting paid for your goods and services in cryptocurrency. Receive payments to your crypto wallet or convert to fiat.

Learn more about our product features or schedule a call here.

[BitMaxz]

I tried to access the website to check how this payment gateway work but it looks like your Cloudflare banned my IP with the error "Access denied".

If this is also applied in your Payment Gateway I'm sure it would also cause some problems not only to those who are planning to use it but also customers who trying to pay using your payment gateway.

[Cantsay]

Same experience here, I tried to create an account and it keeps denying me access.
The login in page for those that already have an account works perfectly but the sign up page keeps showing the error below.

[PX-Z]

I see the site prohibits the use from users of US^[1], but if this is the case why the two users cannot access the site then this is not a good way to provide your service both business and its users. At least give them the ability to access the site and just prohibits from registering.

[1] https://www.sheepy.com/legal?doc=terms-of-use

[logfiles]

I tried to access the website to check how this payment gateway work but it looks like your Cloudflare banned my IP with the error "Access denied".

If this is also applied in your Payment Gateway I'm sure it would also cause some problems not only to those who are planning to use it but also customers who trying to pay using your payment gateway.

Same experience here, I tried to create an account and it keeps denying me access.
The login in page for those that already have an account works perfectly but the sign up page keeps showing the error below.

https://i.ibb.co/sFTjwX3/Screenshot-20230321-231446.jpg

I am able to access the site from my side, both through My free VPN service and without the VPN activated. Usually when my free VPN on, it triggers Cloudflare, but I haven't experienced it this time round.

Maybe the service is blocked from your Countries?

[moneystery]

I can access this service without any problems. But it seems that the account creation page doesn't accept the request and keeps redirecting the user away from the page.

[Potato Chips]

I tried accessing their registration page from supported countries and it worked just fine (UK, Netherlands, Singapore, Hong Kong).

If you look closely at their terms, there are more prohibited countries:

you confirm that your business is not under the control of a national or resident of any country where crypto assets transactions are explicitly prohibited or the United States of America (including all USA territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island, and the US Virgin Islands).

You confirm that you are not a national or resident of the following prohibited jurisdictions: Afghanistan, Algeria, Bahrain, Bangladesh, Bolivia, Cambodia, Central African Republic, Egypt, Indonesia, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Malaysia, Mali, Mauritania, Morocco, Nepal, Nigeria, North Korea, Oman, Pakistan, Palestinian Territory, Qatar, Saudi Arabia, Somalia, Sri Lanka, Sudan, Syria, Tunisia, Yemen. We maintain the right to restrict or refuse its services in these jurisdictions.

[rat03gopoh]

You confirm that you are not a national or resident of the following prohibited jurisdictions: Afghanistan, Algeria, Bahrain, Bangladesh, Bolivia, Cambodia, Central African Republic, Egypt, Indonesia, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Malaysia, Mali, Mauritania, Morocco, Nepal, Nigeria, North Korea, Oman, Pakistan, Palestinian Territory, Qatar, Saudi Arabia, Somalia, Sri Lanka, Sudan, Syria, Tunisia, Yemen. We maintain the right to restrict or refuse its services in these jurisdictions.

Well, the jurisdictional limits for most Muslim-majority countries. I judge this limitation to seem a bit discriminatory (sorry if my feelings are exaggerated). lol
I can assure anyone up front that this will require KYC.

[hugeblack]

We are offering a cutting-edge platform that enables to start accepting crypto payments as they were meant to be - global and frictionless.

I think that you need to redefine the word global because, based on the posts above, about a third of the countries in the world are banned from using your payment service, which is something against the nature of cryptocurrencies available to all countries of the world

you confirm that your business is not under the control of a national or resident of any country where crypto assets transactions are explicitly prohibited or the United States of America (including all USA territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island, and the US Virgin Islands).

You confirm that you are not a national or resident of the following prohibited jurisdictions: Afghanistan, Algeria, Bahrain, Bangladesh, Bolivia, Cambodia, Central African Republic, Egypt, Indonesia, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Malaysia, Mali, Mauritania, Morocco, Nepal, Nigeria, North Korea, Oman, Pakistan, Palestinian Territory, Qatar, Saudi Arabia, Somalia, Sri Lanka, Sudan, Syria, Tunisia, Yemen. We maintain the right to restrict or refuse its services in these jurisdictions.

So, as a store owner, I have lost large numbers of users as a result of using your service to process crypto payments, so what will I benefit from?
Versus a lot of solutions found here ----> LIST Bitcoin Payment processors

[BitMaxz]

It looks like they reduce the firewall rules and restrictions on their cloud flare account which is why it is now accessible. I tried to make an account and verify the email but my account is in testing mode after searching around why it's a testing mode I saw a tab "verify" that requires KYC.

It means that this payment gateway needs to be KYC verified before you can able to use their service which is risky if we share our documents with a months-old payment gateway.
The domain is aged but the website itself is pretty new and it doesn't have any reviews yet and they only support API unlike BTCpayserver.

[logfiles]

It looks like they reduce the firewall rules and restrictions on their cloud flare account which is why it is now accessible. I tried to make an account and verify the email but my account is in testing mode after searching around why it's a testing mode I saw a tab "verify" that requires KYC.

It means that this payment gateway needs to be KYC verified before you can able to use their service which is risky if we share our documents with a months-old payment gateway.
The domain is aged but the website itself is pretty new and it doesn't have any reviews yet and they only support API unlike BTCpayserver.

indeed, members have to be very careful with who they hand over their personal details to. It could be a scammer, and you don't want to know what they will user your KYC documents for after they have been sold off in the dark market

[Renampun]

It looks like they reduce the firewall rules and restrictions on their cloud flare account which is why it is now accessible. I tried to make an account and verify the email but my account is in testing mode after searching around why it's a testing mode I saw a tab "verify" that requires KYC.

It means that this payment gateway needs to be KYC verified before you can able to use their service which is risky if we share our documents with a months-old payment gateway.
The domain is aged but the website itself is pretty new and it doesn't have any reviews yet and they only support API unlike BTCpayserver.

indeed, members have to be very careful with who they hand over their personal details to. It could be a scammer, and you don't want to know what they will user your KYC documents for after they have been sold off in the dark market

personal data can be misused by platforms that are not so reputable so I also won't be careless in placing KYC.


it seems my country is on the prohibited list,

source---

Even though this site has been registered since 2001, it was only updated in 2022, so I'm still a little doubtful about the credibility of this site,

[NotATether]

Even though this site has been registered since 2001, it was only updated in 2022, so I'm still a little doubtful about the credibility of this site,

Now of course crypto did not exist in 2001 this is a purchased domain.

Anyway, it bothers me to see how crypto services are basically blacklisting every country they don't like. OP should probably make this an EEA-restricted service since he supports SEPA anyway.

[Sheepy]

Hello guys!

Of course, we are a regulated fintech business and have certain limitations in terms of counties and territories. This is relevant for our merchants but not customers who would like to pay using our payment gateway.

The same relates to KYC which is the current market standard for all legit crypto businesses. However, we are committed to enhancing the process with automated checks, monitoring tools and public databases.

[joniboini]

Of course, we are a regulated fintech business and have certain limitations in terms of counties and territories. This is relevant for our merchants but not customers who would like to pay using our payment gateway.

Can you at least explain why those jurisdictions are prohibited? I'm seeing countries like Malaysia, Indonesia, etc. What is the legal rule or regulation that you refer to when you ban them? IIRC, other payment gateways don't prohibit users (business owners or buyers) from those countries from using their services, so it looks odd to me. From a quick glance, it seems like you prohibit business owners from countries where using crypto as a payment option is not legal.

[Sheepy]

Can you at least explain why those jurisdictions are prohibited? I'm seeing countries like Malaysia, Indonesia, etc. What is the legal rule or regulation that you refer to when you ban them? IIRC, other payment gateways don't prohibit users (business owners or buyers) from those countries from using their services, so it looks odd to me. From a quick glance, it seems like you prohibit business owners from countries where using crypto as a payment option is not legal.

Yes, you are right. In general, financial regulations and compliance requirements can vary greatly across different jurisdictions. Some countries have stricter regulations when it comes to cryptocurrency payments, and we, as a payment gateway, may also have our internal policies and risk appetite assessments that determine which countries or regions are considered high-risk for crypto payments.

[Sheepy]

📢 Sheepy launches deposit addresses!

With this new feature, merchants can provide deposit (static) addresses to their clients and receive payments directly to their wallets. Sheepy will automatically generate an invoice and issue a notification to the merchant when a payment is received.

Merchants can now assign a unique text label to each deposit (static) address, such as a user_id making it easier to track and verify payments from end clients.

Deposit (static) addresses are designed to simplify and speed up the payment process for both merchants and their clients, especially, if you need to track client balances and their deposits on the go.

▶️ For more information, please visit https://api.sheepy.com/doc/api#tag/Deposit-addresses

[hugeblack]

Yes, you are right. In general, financial regulations and compliance requirements can vary greatly across different jurisdictions. Some countries have stricter regulations when it comes to cryptocurrency payments, and we, as a payment gateway,

Most, if not all, financial legislation is strict for amounts that exceed the amount of one thousand or two thousand dollars, and most payments to merchants are less than that amount. Therefore, there is no need for strictness for depositors, and perhaps the necessary strictness for stores, as the total of their transfers will definitely be more than a thousand dollars.

Many countries do not have clear legislation for encrypted currencies, and therefore, as long as the transfer does not contain US dollars, most of these legislations are useless.

Isn't this a bad choice for users? Where anyone can know my daily store deposit and thus estimate what I can buy.

[examplens]

may also have our internal policies and risk appetite assessments that determine which countries or regions are considered high-risk for crypto payments.

I would really like to hear how it is determined that some countries are "high-risk" for crypto payments. Apart from certain countries that have banned crypto, I don't see how it can still be limited territorially.

With this new feature, merchants can provide deposit (static) addresses to their clients and receive payments directly to their wallets. Sheepy will automatically generate an invoice and issue a notification to the merchant when a payment is received.

Any chance to share here your fee structure? I didn't even try to find it very hard, but I couldn't find it on the site for such information except for no setup fees.

[logfiles]

may also have our internal policies and risk appetite assessments that determine which countries or regions are considered high-risk for crypto payments.

I would really like to hear how it is determined that some countries are "high-risk" for crypto payments. Apart from certain countries that have banned crypto, I don't see how it can still be limited territorially.

When I looked at the list. I couldn't help but notice that most of the countries are low tier or what some people would refer as Third World countries. Most of these countries don't even have any sound legal framework when it comes to financial regulations.

Which makes me wonder who makes up this list of high-risk countries?
It's not like we will see The Government of Bolivia sue sheepy for not complying with their financial regulations, like the way SEC usually does with services that try to act with in the United States.