Coinvay’s current DAI option verifies the configured DAI ERC-20 contract on Ethereum. DAI is a separate asset from ETH, USDC, USDS and savings-token products. A merchant should decide whether receiving that specific token fits its customer base and treasury workflow.
Enable the exact DAI route
Use the merchant’s EVM receiving setup and enable DAI on Ethereum. The configured contract, not a ticker returned by an arbitrary wallet, defines acceptable payment evidence. A similarly named token on another chain or a related ecosystem product should not satisfy that invoice.
For example, a freelance developer whose client already holds DAI can issue a USD invoice and offer the Ethereum DAI route. Checkout calculates the requested token quantity. The client must follow that quote, including its exact precision, instead of rounding the amount to a whole number of DAI.
Budget for Ethereum transaction costs
An ordinary DAI transfer uses ETH for Ethereum gas. A client can have sufficient DAI for the invoice yet be unable to broadcast because the wallet lacks an appropriate fee-paying balance. Check this before an urgent payment deadline.
The gateway verifies the token transfer rather than assuming the invoice’s USD price equals an identical number of tokens under all conditions. A target value is not a guarantee of market price, and sending from an exchange can introduce minimum withdrawals or fee deductions that change the received amount.
Keep treasury products outside checkout
DAI’s surrounding ecosystem has separate governance, conversion and savings mechanisms. Receiving a DAI payment does not automatically enroll the merchant in any of them. Avoid conflating ordinary payment acceptance with earning yield or upgrading tokens.
Record the received token quantity alongside the order and the business’s normal accounting records. If the merchant later converts or transfers the DAI, keep that operation separately identifiable. A refund policy should specify how the returned amount is determined without implying the gateway can reverse an already settled transfer.
Practical checklist
- Confirm the Ethereum DAI contract and selected network.
- Have the sender reserve ETH for gas.
- Keep DAI, USDS and savings-token balances distinct.
Common questions
Can a customer pay a DAI invoice with USDS?+
Not merely because the assets are related. The current Coinvay quote names DAI and verifies its configured contract. A different token needs an explicitly supported checkout route.
Does DAI support guarantee a fixed dollar redemption?+
No. Payment support means the gateway can recognize the configured transfer. It is not a guarantee about market parity, collateral conditions or a merchant’s access to a particular conversion service.
Sources and further reading
Primary references and Coinvay product documentation. Check the linked pages for current details.
AI-assisted drafting, published by Coinvay. Examples are illustrative. Read our editorial approach.