Re: knoxpayments

On 2015-03-12 19:45, Adrian Hope-Bailie wrote:
> Hi Fabio,
>
> A similar system in South Africa (InstantEFT) is offered by one of the payments gateways as an alternative to card processing.
> https://www.payfast.co.za/s/std/instant-eft
>
> I think their implementation is better because the user is redirected to their actual online banking site.
> After logging in they are prompted to confirm the payment and then redirected back to the original site.
>
> However, this requires a few things:
>
>  1. I believe that they have agreements in place with each bank as not all banks are supported.
>     Therefore they had to negotiate the technical details around how the payment details will be passed to the bank etc
>  2. The processor does take on some risk as EFT [payments in South Africa don't settle immediately
>
> An ideal outcome of the web payments work we are doing will be standard way for a similar interaction between the seller's website and the payer's agent (bank/wallet/etc) to be completed.
>
> Commerical closed implementations have the advantage of providing a tangible demo of the benefits but the disadvantage of possibly being covered by patents and commercially disincentivised from the process being standardised.
>
> I do think we should keep a record of these as references of how this can be done.

There are variations of this scheme running in many EU countries since years back.
This sketch of mine was actually highly inspired by these [quite popular] systems:
http://webpki.org/papers/decentralized-payments.pdf

Merchant-listing of associated banks is unnecessary if you have a working wallet.
My idea was actually to use these local schemes as a "bootstrap" because the really big fishes probably take like forever.

Anders

>
> Adrian
>
>
>
>
>
> On 12 March 2015 at 02:49, Fabio Barone <holon.earth@gmail.com <mailto:holon.earth@gmail.com>> wrote:
>
>     Anyone knows these guys:
>
>     https://knoxpayments.com
>     https://www.youtube.com/watch?v=ZnmA1d8j0Vg
>
>     What do you make out of this? Yep, it's not a standard, yep, they only support a hand-ful of (big) banks...
>
>     cheers
>
>

Received on Friday, 13 March 2015 05:42:05 UTC