Title: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 15, 2013, 07:39:05 AM Hello,
We (BitOcean) seem to have hit a big stone on the way, we never really expected this one but anyways, Now that we can't use WesternUnion (can only receive, you can't send :/), what ways do you suggest to send and receive money to/from us ? (Apart fron NEFT/Bank transfer) looking forward to your suggestions Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 15, 2013, 08:29:48 AM Welcome to India's closed loop banking system :(
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 15, 2013, 08:34:29 AM I hate to say this, but yes :/
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 15, 2013, 08:36:00 AM Been studying Banking strategies for the past few weeks and it seems that nothing much apart from competition keeps them from accepting deposits.
Why not talk to a smaller bank? We know that they need every deposit possible. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Fifth_ID on April 15, 2013, 09:05:32 AM Banks are probably planning to integrate bank account numbers with bitcoin addresses.
I can't think of options that are well known apart from billdesk and ccavenue. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: skang on April 15, 2013, 01:00:17 PM What is the problem with bank transfers??
The only ways I can think of are follows : (though they seem enough for all Indian businesses) 1.credit cards 2.debit cards 3.Net banking 4.Cheque/Demand draft 6.Wire/Online transfer 7.Cash on delivery for redeemable coupons or gharpay 8.Mobile payments (Paymate) 9.ITZ cash cards Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 15, 2013, 04:43:44 PM Hmmmm... Anyone know if Postal money orders are still in existence?
I think that is the answer. They used to be quite discreet, unsure about now. And I am sure that there will be limits. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: legendster on April 15, 2013, 05:36:42 PM Hmmmm... Anyone know if Postal money orders are still in existence? I think that is the answer. They used to be quite discreet, unsure about now. And I am sure that there will be limits. They Exist ! As a matter of fact they have improved their services in the last 3 years. They even got a new logo now. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 15, 2013, 05:38:45 PM Anyone know the details?
What are the limits? Is it anonymous? Etc.. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 16, 2013, 02:21:38 PM Hmm, Gharpay seems to be good, but i think they come to your house to collect the money, which I am not too sure how that'll work in every city in India..
I need to look into westernunion again, if they allow to send and receive in india, i wont mind using that.. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 16, 2013, 02:25:42 PM I would assume that you can go to a gharpay collection point to pay as well.
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: The Bitcoin Catalog on April 16, 2013, 04:30:02 PM Will you list your exchange on http://bitcoincharts.com/ ?
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 16, 2013, 05:13:18 PM Will you list your exchange on http://bitcoincharts.com/ ? Yes we will contact them to list us once we get our exchange going.. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: StLucifer on April 16, 2013, 08:13:10 PM direct cash deposit to bank account OR NEFT transfer will be the best way to deposit money.
Credit/debit cards can be used in a way similar to how Virwox uses it -> use the card to credit your account with USD/INR/whatever, and then use that money to place a bid on the btc. this is more expensive and i do not know how they get protected against chargebacks. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: legendster on April 16, 2013, 10:21:34 PM Gharpay doesnt exist in Westbengal, even if they do i dont think they are that spread here, again any service in any state is mostly available to the main state capitals and not the more rural areas - where electricity is more cheap.
So I suggest a form of mobile payment, you know ? Where the user sends a message and he gets a call or another message confirming his request & the amount is directly deducted from his account balance. Or simply make a call from a mobile/landline and top up your account through that - through your MAIN ACCOUNT BALANCE - I see a way where this can make the life of STD owners a lot tougher - if you know what I mean. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 17, 2013, 04:33:49 AM Any way to do this without linking a bank account?
I assume that is what Dashing is trying to achieve here. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: legendster on April 17, 2013, 04:36:34 AM Any way to do this without linking a bank account? I assume that is what Dashing is trying to achieve here. By Account balance I meant MOBILE account balance. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 17, 2013, 04:39:12 AM That will work for prepaid users.
I have seen people recharging for others as well, but scope is limited to pre-paid users. And how much can be charged at the most each month? 1-2K max? Does not really help if someone wants few more. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: legendster on April 17, 2013, 05:04:50 AM That will work for prepaid users. I have seen people recharging for others as well, but scope is limited to pre-paid users. And how much can be charged at the most each month? 1-2K max? Does not really help if someone wants few more. 2k ~ 3k max per recharge (airtel) I dont think there is an upper limit to how much one can recharge every month, I could be wrong. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 17, 2013, 05:05:53 AM Yes, that could hardly buy 1 BTC once the price leveling happens.
Ex. My bills never exceed 2K INR, so is that the limit that I can buy for? What is the point of over paying? Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: legendster on April 17, 2013, 05:22:24 AM Yes, that could hardly buy 1 BTC once the price leveling happens. Ex. My bills never exceed 2K INR, so is that the limit that I can buy for? What is the point of over paying? Not sure what you mean by price leveling. Have you ever tried to pay for any service before through your phone ? I dont think their is any restriction to it, I remember doing it once & my bill was 20k that month - BSNL Got some good thrashing from dad :p Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 17, 2013, 05:32:09 AM Can only pay bills by mobile..
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: drdanishkhan on April 17, 2013, 06:11:49 AM why cant we use bank depositing structure similar to what other currencies and buysellbitco.in are using?? its convenient and fast..
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: legendster on April 17, 2013, 10:01:53 AM Can only pay bills by mobile.. Lets blow up RBI -_- Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 17, 2013, 03:23:50 PM Hmm how about this,
People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ? https://www.okpay.com/en/developers/payment-methods.html Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 17, 2013, 04:17:22 PM http://thenextweb.com/in/2013/04/17/vodafone-launches-m-pesa-mobile-banking-service-in-india-targets-700m-unbanked-people/?
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Fifth_ID on April 17, 2013, 04:34:00 PM Hmm how about this, People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ? https://www.okpay.com/en/developers/payment-methods.html I created an account with OK Pay. Depositing some money is fine (as long as I have an internationally recognized card) but withdrawals seem to be an issue since verification is required. It's been a few minutes since I tried to verify my mobile phone number but nothings happened. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 18, 2013, 11:46:00 AM Ok, so this is what we have finalised,
We will use OkPay for deposits and withdrawals, you can deposit into OkPay with your bank account and then fund your account at BitOcean with your OkPay account, although your balance may show up in USD in OkPay, it will be converted to INR at the highest rate for that day when you deposit into BitOcean Now, there are many advantages to this, You can buy and sell on MtGox with OkPay too, so you can take advantages of both markets when trading. We may allow local cash-in-hand deposits for INR for people in Bangalore. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 18, 2013, 12:12:19 PM Hmm how about this, People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ? https://www.okpay.com/en/developers/payment-methods.html I created an account with OK Pay. Depositing some money is fine (as long as I have an internationally recognized card) but withdrawals seem to be an issue since verification is required. It's been a few minutes since I tried to verify my mobile phone number but nothings happened. Click on the "SMS Delivery Troubleshooter." at the SMS verification page and it should work.. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Fifth_ID on April 18, 2013, 12:24:47 PM Hmm how about this, People fund their OkPay account (https://www.okpay.com) using bank transfer etc and with that they can buy BTC / sell BTC on our site ? https://www.okpay.com/en/developers/payment-methods.html I created an account with OK Pay. Depositing some money is fine (as long as I have an internationally recognized card) but withdrawals seem to be an issue since verification is required. It's been a few minutes since I tried to verify my mobile phone number but nothings happened. Click on the "SMS Delivery Troubleshooter." at the SMS verification page and it should work.. Thanks for the heads up. I just did that when probably were typing the post. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: drdanishkhan on April 19, 2013, 06:23:48 AM Dont wanna sound noobish but how can i transfer funds to okay pay??
bank wire requires verification and IDs.. i was thinkin of a more anonymous kind off transaction.. Any other method or a walkthrough anyone??? :-\ Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 19, 2013, 08:13:34 PM oh well, the rules and regulations are too tight and sadly we cannot comply with them if we open this exchange.. and we don't want to get into a legal mess because of that, so sorry guys, but the exchange cannot happen.
But, we will launch a store with which you can purchase physical goods with bitcoins and INR (cash on delivery / bank transfer) Thanks for the support on the way and hopefully our store will be a success.. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Benson Samuel on April 20, 2013, 03:24:19 AM Why not just keep a BTC to LTC exchange at hand.
Zero Investment and people get a working exchange in India. Then add a Location Based service like locabitcoins.com to engage INR conversions if needed. Obviously no involvement in this from your end. We know that even without INR, an exchange is very very possible. Just remove some barriers of entry and add some new ones like other Crypto-currencies, etc. This is just ONE of several ways to get fixed up with a legal workaround to Bitcoin. Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Dashing on April 20, 2013, 10:13:02 AM hmm we could hmm, i'll probably move the exchange to exchange.bitocean.in and make it LTC <-> BTC only
Title: Re: [BitOcean] Payment methods [Suggestions needed] Post by: Fifth_ID on April 20, 2013, 11:36:58 AM What India needs is a voucher site where we can buy vouchers using bank transfers (not plastic) and exchange those vouchers for redeemable points or credits. Plenty of Groupon clones in India but no Liberty Reserve or Aurumxchange clones.
An exchange that accepts every alt coin and exchanges it to btc could be very profitable since you'd get business from outside India. Feathercoin seems to be the coin of the month. |