Card payments for mobile use

I know Sam said that there was no intention of using card payments systems but…

If I have people who want to tip me but don’t want to use cash in the current covid climate then would a card reader/contactless reader for mobile be an option to be integrated in the app?

Would be good for any company/self employed/sole trader to have a tool like this for mobile payments in my eyes.

Coconut would become the Swiss army knife for self-employed users and a good marketing slogan analogy.

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This is basically what cryptocurrency enables. Everyone has a payment terminal on their phone.

The next decade will see a revolution in money that few are even aware of right now.

For traditional businesses to succeed, they will need to get up to speed with Ethereum rapidly.

So we are going to have $cocacoin? :joy: No but seriously, crypto was developed by bitcoin initially to be untraceable anonymous currency. That’s why all the criminals use it and the price went through the roof. So you are implying that crypto terminals for secure transactions are going to be mainstream on all devices?

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The purpose behind Bitcoin was/is to create a type of money that removes the need to trust a middleman (bank), or trust an issuer (central bank). i.e. it’s peer-to-peer, just like cash, with a fixed inflation rate, and its control is distributed to thousands of computers around the world.

Governments can create more money from thin air whenever they want. When they do, they dilute our cash. When we see house prices “go up”, it would be more accurate to say that our pounds have “gone down”.

The fixed supply of Bitcoin, like gold, means its value cannot be diluted. And the privacy aspect is just a logical part of it, given that it’s intended as a replacement for cash, and what I do with cash is also anonymous (yet issued by governments).

And yes – all cryptocurrency wallets are effectively payment terminals. You just generate a QR code with your address + amount you want, the other person scans the QR code with their crypto wallet and the money is sent. Like Paypal, except not controlled by a corporation who could censor you and charge you whatever they want.

Someone recently transferred $1 billion for a $0.68 fee – https://cointelegraph.com/news/bitfinex-made-a-11-billion-btc-transaction-for-only-068

Despite what you read in mainstream media, this tech will be as world-changing as the internet has been. I expect it to be far more dramatic, actually.

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Totally agree with what you have said and what I said LOL :smirk: your house is worth less compared to how much gold it cost originally to build… money dilution at it best by government

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Crypto enthusiasts have been saying this for almost a decade, I know because I used to be one.
It’s complete rubbish and people that claim this are just trying to shill and pump worthless coins.

TCP/IP went online in 1983. It was another 7 years before the world wide web was invented. Another 8 years before Google was founded. Another 6 years before Facebook was founded. 21 years.

Bitcoin’s TCP/IP moment was in 2009, so by that measure, we’ll see where we are in 2030…

Change is gradual, then sudden.

I do agree though that there are a LOT of worthless coin shillers out there. There are also real projects with real use cases and real users.

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@Kevin this is quite a cool idea. Do you know any providers that enable payments to be taken from a smartphone without any hardware? I’d love to start to understand the market more.

Another option is to partner with a hardware provider like iZettle (PayPal) it SumUp. Do you or anyone else use these products?

@graeme we don’t plan to offer crypto support for taking payments or holding currency in the near future. Whilst the technology holds promise, it’s not widely enough adopted or understood yet.

By using existing payments rails and currencies we can have a much wider reach with new features that we build.

Sorry for the late reply Sam… without hardware would require the phones NFC to be utilised and using an development API provided and implemented by your developers I would guess. Other way as you say partner up with a hardware vender.

Hi Sam,

It would be great if there were payment links. I know some companies do for personal accounts IOUs so you can email, text or whatsapp your friends an amount within the link and it gets paid directly to your account.

Also Stripe connect is really great. Companies like Lyft and deliveroo use it, as it pays everyone in the distribution channel the amount thier meant to receive. For example the customer pays the app, the app then pays the restaurant and the delivery at the same time on confirmation to their accounts

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You can use QR codes generated on the fly which contain the amount and currency to pay in. The purchaser just scans this QR and the payment is sent. Very similar to using NFC, just uses camera instead. Advantage is it can be used over the internet too.

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