Comparison

Qvard vs BitPay: fiat settlement with KYB or a custodial crypto balance

TL;DR: These two work on different models. BitPay converts what the customer pays and settles to the merchant in fiat (or crypto, or a mix), charges 2% + 25¢ below $500,000 of monthly volume, and requires business verification. Qvard keeps a crypto balance per asset for the merchant, charges a 1% base rate per payment (individually down to 0.1%), and does not ask merchants for KYC. BitPay fits a registered business that wants money in its bank account and ready-made plugins; Qvard fits a merchant that wants to receive crypto and withdraw it to its own wallet.

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Feature by feature

Qvard vs BitPay

QvardBitPay

Processing fee1% base per payment, individually down to 0.1% (volume-based)2% + 25¢ below $500,000 monthly volume; 1.5% + 25¢ from $500,000; 1% + 25¢ from $1,000,000. Higher fees for high-risk industries

Custody and settlement modelCustodial: Qvard tracks a merchant balance per asset until withdrawalPayments are converted and settled to the merchant (fiat, crypto or a mix); the terms state BitPay does not provide custody services and the merchant has no claim on the exchanged crypto

KYC / KYB for merchantsNot requiredBusiness verification in tiers: owner IDs (25%+ stake), business registration and a tax ID document; daily and yearly limits per tier

Coins & networksUSDT (TRC20, ERC20, BEP20), BTC, LTC, ETH, BNB, TRXPricing page lists BTC, BCH, ETH, DOGE, LTC, XRP and tokens such as USDC, GUSD, USDP, BUSD, WBTC, DAI, SHIB, APE, EURC; USDT is not on that list

Invoices and payment linksPayments are created via the API; the customer gets a hosted checkout link. No no-code payment linksCrypto invoices that BitPay describes as easy to send "as sending an email"

API & webhooksYes — create payment, get redirectUrl, receive final-status webhook with retry; API requests use an Authorization: Bearer headerREST API; the Instant Payment Notification webhook is resent until it succeeds or BitPay gives up; signed with an HMAC SHA256 x-signature header

PluginsNo ready-made plugins yet — REST API integrationMagento 2, Shopify, WHMCS, Wix, WooCommerce, BigCommerce

Withdrawals / payoutsManual and automatic withdrawals to a wallet; no fiat withdrawalSettlement to a bank account in AUD, CAD, EUR, GBP, MXN, NZD or USD, in crypto, or a mix

Fees: a per-payment percentage vs. a percentage plus a fixed amount

BitPay's pricing page shows three tiers by cumulative monthly volume: 2% + 25¢ below $500,000, 1.5% + 25¢ from $500,000 and 1% + 25¢ from $1,000,000, with higher fees for high-risk industries. No monthly fee is listed. Qvard's base rate is 1% per payment with no subscription fee, set individually down to 0.1% by volume. Because BitPay adds a fixed 25¢, small payments cost proportionally more there.

Who holds the money and in what form

With BitPay the merchant is paid out the settlement amount, typically in fiat to a bank account; per its terms, the merchant has no claim on the crypto the customer paid. Qvard works the other way round: the merchant keeps a crypto balance per asset and withdraws to a wallet manually or automatically. Qvard has no withdrawal to a bank account, so a business that needs fiat in its bank should look at this carefully.

Verification and restrictions

BitPay requires business verification: IDs of everyone with a 25% or larger interest, business registration and a tax ID document, with higher tiers asking for more and raising the limits (Tier 2 is $10,000 per day and $500,000 per year). Its documentation also names OFAC-sanctioned countries (Iran, Cuba, North Korea, Syria). Qvard does not require KYC from merchants.

Integration: plugins vs. API only

BitPay lists plugins for Magento 2, Shopify, WHMCS, Wix, WooCommerce and BigCommerce, a documented REST API, a test environment at test.bitpay.com and HMAC-signed webhooks. Qvard has no ready-made plugins: integration goes through the REST API and a hosted checkout page, with a webhook on the final payment status.

When BitPay is the better choice

Pick BitPay if you are a registered business that wants daily settlement to a bank account in your local currency, need a ready-made Shopify, WooCommerce, Magento 2, WHMCS, Wix or BigCommerce plugin, or want signed webhooks and a testnet-based test environment.

When Qvard is the better choice

Pick Qvard if you want to start without merchant KYC, accept USDT on TRC20, ERC20 or BEP20, keep a crypto balance and withdraw to your own wallet, and prefer a 1% base rate without a fixed per-payment amount.

FAQ

Does BitPay require KYC?

Yes. BitPay's compliance documentation asks businesses for IDs of persons with a 25% or larger interest, business registration and a tax ID document, with higher tiers needing more. Qvard does not require KYC from merchants.

Is BitPay custodial like Qvard?

Not in the same way. BitPay's terms state it does not provide custody services and that the merchant has no claim on the exchanged crypto; the merchant is settled the amount instead. Qvard is custodial: it holds a merchant balance per asset until withdrawal.

Which one has lower fees?

Qvard's base rate is 1% per payment, individually down to 0.1%. BitPay charges 2% + 25¢ below $500,000 of monthly volume and 1% + 25¢ from $1,000,000. Compare on your own average payment size and volume.

Does Qvard pay out to a bank account like BitPay?

No. Qvard offers manual and automatic withdrawals of crypto to a wallet; there is no withdrawal to fiat. BitPay settles to a bank account in several currencies.

Can I accept USDT?

Qvard accepts USDT on TRC20, ERC20 and BEP20. USDT is not on the coin list of BitPay's pricing page, so check the current list with BitPay before relying on it.

Does Qvard have plugins and signed webhooks like BitPay?

Qvard has no ready-made plugins: integration is through the REST API. Its API requests use an Authorization: Bearer header; BitPay documents HMAC-signed webhooks and six plugins.

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Data on BitPay verified 2026-10-28 from official sources. Fees, features and policies can change after this check — confirm current details directly with the provider before deciding.

Sources checked: https://bitpay.com/pricing · https://bitpay.com/accept-bitcoin · https://www.bitpay.com/legal/terms-of-use · https://developer.bitpay.com/docs/compliance · https://developer.bitpay.com/docs/notifications · https://developer.bitpay.com/reference/hmac-verification.md · https://developer.bitpay.com/docs/plugins.md · https://developer.bitpay.com/docs/testing.md