Spending & Transactions

This article covers how payments work, where you can and cannot use your card, what happens when things go wrong, and how to understand your transaction history.

How a payment works

When you make a purchase, the equivalent amount of USDC is deducted from your Tangem Pay smart contract account to fund the transaction. The payment is then processed through Visa and settled with the merchant in fiat.

For purchases in currencies other than USD, Visa converts the amount into the merchant’s local currency. Standard Visa foreign exchange rates and cross-border fees apply.

Your on-chain USDC balance and your card balance are not always identical. After a purchase, your on-chain balance updates within 2 business days. During this window, the amounts may differ — this is expected behaviour.

Where you can use the card

Tangem Pay is accepted anywhere Visa is accepted — online and in-store, at over 150 million merchants worldwide. It works with Apple Pay and Google Pay for contactless payments at compatible terminals.

For online purchases, enter your card number, expiry date, and security code at checkout as you would with any standard card.

Restricted merchants and transaction types

Some merchant categories are restricted by the card program and will result in a declined transaction. These restrictions are set by Rain as part of the card program rules and include, but are not limited to:

• Gambling and online casinos
• Liquor stores
• Certain subscription services

Pending transactions and pre-authorisation holds

Some merchants place a temporary hold on your balance when you pay. The hold reduces your available balance until the transaction settles, which typically takes 1–2 business days.

At automated fuel dispensers, the default hold amount is $175. If your balance is below $175 at the time of the transaction, it will be declined even if the actual fuel cost is lower.

Once settled, holds resolve to the actual amount charged and your balance updates.

Why was my payment declined?

Transactions can be declined for various reasons:

• Insufficient balance in your Tangem Pay account
• The merchant category is restricted by the card program
• A spending limit has been reached
• The terminal type is not supported
• Pre-authorisation holds reducing your available balance

If your card is declined and you believe it was in error, contact support@paera.com with your transaction details.

Do I need my physical Tangem card to make payments?

No. Once you have added your Tangem Pay card to Apple Pay or Google Pay, you can make payments using your phone alone. Your physical Tangem hardware card does not need to be present at the point of sale.

Transaction history

Your full transaction history is visible inside the Tangem app on your Tangem Pay account page. Tap any transaction to view its details. If you tap the Get Help button on a transaction, it will generate a support email to pay@tangem.com with your transaction logs automatically attached.

What happens if a purchase is refunded?

Refunds on Tangem Pay work differently from a standard withdrawal. If a merchant issues a refund, the amount is returned to your card balance and will be available for spending again — but it will not be returned to your on-chain USDC balance and cannot be withdrawn back to your wallet.

This is an important distinction: refunded funds stay within the card program and can only be spent, not withdrawn.

How to dispute a transaction

Transaction disputes are handled by our partner. If you have been charged incorrectly, or a merchant has failed to deliver goods or services, contact support@paera.com with the details of the transaction.

Note: a $30 fee applies when a formal dispute is opened.

You must report disputed charges within 60 days of the transaction appearing on your statement. The dispute process follows standard Visa chargeback procedures, which may require you to provide additional documentation.

Does using Tangem Pay create a taxable event?

Using Tangem Pay does not, in itself, create new tax obligations beyond those that already apply to your underlying crypto and spending activity. Tax rules vary significantly by country and individual circumstances, so we recommend consulting a qualified tax professional to understand your obligations.

You can view your transaction history in the Tangem app, which may help when preparing your own tax records.

Tangem does not provide tax advice. As Tangem Pay is a regulated card programme, the card issuer and its partners may process and, where required by applicable law, share account and transaction information with relevant authorities.