Methodology

We track crypto payment card transactions based on onchain data that we index ourselves. We independently determine how to track each card, verifying our approach with the issuer where possible.

For a small number of cards, we also incorporate offchain data sourced directly from the issuer via API. This data can be hidden using the Include Offchain Data toggle in the top bar.

Spends vs Top-ups

While most card issuers account for each payment (or "spend") with a distinct onchain transaction, this isn't always the case. Some card issuers use centralized or batched settlement architectures for which we can only track card top-ups. Note that top-up volume may not entirely correspond to card spend; in some cases, deposited funds may be withdrawn onchain or off-ramped via banking rails.

At present, we rely on tracking top-ups for the following cards: RedotPay, Cypher, Holyheld. We also track top-ups for KAST, in addition to Rain card settlements. We're in the process of indexing top-ups for other leading neobanks to enable apples-to-apples comparisons.

Top-up data can be enabled or disabled using the Include Top-Ups toggle in the top bar. For cards where the same funds are tracked at multiple stages, top-up metrics replace downstream payment metrics to prevent double-counting when this toggle is enabled.

Users

Across all cards, a user is defined as an address that has spent or topped up at least once. For multi-chain cards, users active on more than one chain are counted towards each chain. To see deduplicated user counts for a project, see the Overview page.

Issuers

Many crypto payment cards use the same issuers under the hood, such as Rain or UR. To avoid double-counting, we do not show issuer metrics on the same charts as individual cards.

Chain Coverage

Due to infrastructure costs, it is not feasible to track card transactions on every single chain. However, we've selected chains that we believe account for the vast majority of crypto card transactions.

If you represent a blockchain and would like to have payment card activity tracked for your ecosystem, please reach out.

Transaction Pricing

To price transactions settled in non-USD tokens, we use the open price for the token on the day of the transaction.

Questions or Corrections?

If you have questions about our methodology or want to suggest a correction, please reach out via our Contact page or on X (@Paymentscan).