Re: Person-2-Person Payments

You should check out ClearXchange

Sent from my iPhone

> On Sep 6, 2015, at 4:52 AM, Anders Rundgren <anders.rundgren.net@gmail.com> wrote:
> 
> P2P payments have become a huge success in many countries, i.e. this is already established.
> These systems are entirely proprietary and usually even secret.
> 
> Is that a problem? Not at all.
> 
> IF there is a problem worth solving (a very good task for an IG), I can only find one and that is the fact
> that the majority (if not all) P2P payment systems are based on a "hub-and-spokes" model which in
> spite of working global payment systems limits usage.
> 
> There are probably several issues around expanding P2P payments beyond a single hub and one of the
> more obvious is the "eternal" problem locating your home-base.  If you solve this (the world is still waiting...)
> for ordinary Web-payments, the very same method should be applicable to P2P payments.
> 
> Unfortunately there seems to be a usability snag with an expanded system because you need to introduce
> an additional step which typically would be opening an e-mail application and clicking on a link.  The nice
> thing about a possible standard is that this step could be integrated by the platform vendors by (for example)
> searching for an attached icon with the name w3c-p2p-payment.png.  A bit of a hack but who cares if it
> actually does the trick? This would of course be an entirely optional thing.
> 
> Yes, email addresses appear to be the most logical account identifier in a scalable P2P payment system.
> Building on SMS would limit message length, adds costs, and exclude many platforms.
> 
> Using existing account identifiers is IMO not a viable option because they are bound to a single bank,
> have no messaging capability, and are quite awkward to deal with for humans.
> 
> A very thorny issue is how to deal with (rather inform about) transaction fees since they depend on the "carrier".
> IMO this is primarily a question for the sender since the receiver probably wants their $100 uncut.
> 
> WDYT?
> 
> Cheers,
> Anders
> performing his weekly update
> 
>

Received on Sunday, 6 September 2015 11:13:54 UTC