Crypto payment gateway provider NOWPayments and blockchain security company BlockSec have jointly released the Crypto Payment System Security and Technical Compliance Checklist, according to BlockBeats on July 27. The document is intended to help businesses improve the security of their crypto payment systems.
The checklist includes 25 control measures across nine security and compliance categories. Those areas cover private key and wallet security, smart contract security, transaction verification and signing, identity and account management, domain security, on-chain monitoring and incident response, AML/CFT technical compliance, stablecoin freeze risk management, and continuous improvement.
Key risks in crypto payment systems
NOWPayments said the main risks facing crypto payment systems include private key leaks, suspicious transactions, account takeovers, and stablecoin freezes. Since on-chain transfers are irreversible, businesses need more robust wallet management, transaction approval, and compliance monitoring mechanisms.
BlockSec co-founder Andy Zhou said many companies mistakenly view crypto payments as the same as traditional online payments. In practice, once an on-chain transaction is executed, it cannot be rolled back. He said weak key management, transaction authorization that has not been reviewed, and insufficient compliance checks can all result in permanent loss of funds.
Use cases before launch and in routine reviews
According to the announcement, the checklist can be used before a company deploys crypto payments, during vendor assessment, and in day-to-day security reviews. It is meant to help security, operations, compliance, and product teams identify risks together and define responsibility more clearly.
NOWPayments currently supports more than 350 cryptocurrencies and over 30 stablecoins, providing crypto payment, auto-conversion, and settlement services for merchants, online platforms, and enterprises. BlockSec provides blockchain security services including smart contract auditing, real-time security monitoring, attack defense, and on-chain investigation.