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. The merchant/payment provider can share the available data with us, or we can request it directly from the user. We use zkTLS and Open Banking to access users' credit scores, employment status, tax reports, and other data to underwrite people around the globe better.

What is the fee structure?

We charge a 3% merchant fee.

Does the user have to KYC?

Yes. They need to prove their identity by completing a zkKYC (scanning their passport/ID), connecting their bank account, or providing another valid form of identification.

How do you handle repayments?

There are two options: the user either repays manually or signs a permit (an EIP-712 message for EVM) for Yumi to pull funds automatically.

How do you handle defaults?

We work with debt collection agencies to service the bad debt. In some cases, we can freeze assets on a user's account.

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. The integration is minimal.

What is the credit limit

We're planning an initial average limit of ~$500 per user. That is adjustable according to the customer profile.

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.