How is the Virtual Debit Card payment calculation done?

Here is how the debit card calculation works:
Initial trigger is local currency amount.

• Calculate the conversion of this to USD (there is a potential variance from the FX mid-rate here).
• Add 1.95% card transaction fee.
• Use your preference currency list to sell sufficient of the relevant pair(s) to raise the required USD amount. This is a sale at the Kinesis Exchange, so you need to look at the best bid price and also allow for the 0.22% fee.
• Pay the local currency to merchant.

So, essentially the cost will be
FX conversion cost if not a USD transaction + 1.95% card fee + 0.22% Exchange sale fee + buy sell spread.

 

[gorkaMIT]

Thank you Uchiki. But then you need to net the “casback” (paid in kau/kag) associated to velocity yield?

 

[Uchiki]

Not sure I understand the question.
The above is a description of how the debit card payment calculation is done.
I updated the title to include the word payment to make this clearer.

You then have the Velocity yield calculation which is referenced here along with a comment that it encompasses all trades, not just the liquidations associated with debit card payments.

https://forum.kinesis.money/threads/care-to-share-your-velocity-yield.394/#post-1512

There is no predictable % link between debit card payment and Velocity yield, so better to have these items discussed separately.

"Cashback" as a term is probably best reserved for the Cashback Voucher scheme described here, where you receive a specific % of cashback for each voucher purchase. (Only currently available in the US)

Cashback

Get a 3% return on gold and silver purchases with Kinesis Cashback vouchers, paid in Kinesis gold (KAU) or Silver (KAG). Start saving today.

kinesis.money