FAQ

TLDR;

Yumi offers an SDK that can add a “pay-in-4 with crypto” to any checkout flow. Yumi handles all the risk, and the integration is minimal.

How do you underwrite the user?

We underwrite them based on a mix of onchain and offchain data. Currently, we only require the user's wallet connection. However, the user can also connect their bank account to get a greater limit. In the future, we plan to use zkTLS to get access to their credit score, employment status, tax report, student status, and other sources that might help us better underwrite people around the globe.

What is the fee structure?

We charge a 3% merchant fee.

Does the user have to KYC?

Yes. They need to do a zkKYC by scanning their passport/ID or connecting their bank.

How do you handle repayments?

There are 2 options where the user either repays manually, or signs an EIP-712 message for Yumi to automatically pull funds, using ERC-7702 smart account functionality.

How do you handle defaults?

We work with debt collection agencies to service the bad debt.

Is it hard to integrate? Do we need to change our code?

The integration is done via a React SDK that you can install within a couple of minutes and add to your existing code.

What is the credit limit

We're planning to have an initial limit of 1000$ per user.

Who funds the user's loan? Who's responsible for defaults?

Yumi takes on ALL the risk. We use private capital and, later, DeFi, to fund the loans. If a user defaults, Yumi eats the loss (defaults are fully accounted for in our model, so Yumi can afford to do that and remain profitable).

Is there a demo live?

Yes. Please contact us to schedule a live demo or get the Loom video.