Bitcoin Forum

So I was thinking about using bit coins to buy something at POS and the best solution so far is QR code app for andriod. What about every buddy that does not have this luxury. I was thinking of an implementation that works kinda like a credit card but in reverse. The idea is a bill me card. The idea would need to be integrated with something like instawallet. Besides the hidden url they would need to provide a Bill me url. The bill me url would be encoded to a card and used by POS software/terminals, maybe a custom terminal could be designed to run standalone using an embedded design. This also could represent a possible revenue stream for online wallet providers as they could charge a small fee to print and mail you a BillMeCard. This BillMe Url could also be encoded to a barcode for print or QR code. So that if the merchant has a smart phone they could do a transaction with a dumb phone. or in the case of a regular barcode could be used with a standard barcode reader that may not support QR Codes.

So the merchant swipes the card and it hits the url passing the address it would like payment sent to and the amount (Using a http/get/post type api). I would say three possible modes of operation would be used to authorize transactions.

1. (Auto Authorize) So anything posted to this url would be paid much like a credit card, so you would only give this out to trusted parties and limit the available balance.

2. (Pin Authorize) You set some type of pin on your wallet and the transaction is only completed if the correct pin is passed.

3. (After Reply Authorize) In this scenario either a email or a cell phone number is supplied so that the online wallet service can contact you to authorize the transactions. In this scenario the online wallet sends you an text or an email describing the amount, who is requesting and if you agree, you reply with a ("Y") for yes.

I think this would be a pretty simple protocol to implement and would widen the use-ability of bitcoins. The thought is that a browser could be used as a default terminal where you scan the url into the address bar and complete a transaction quickly.

Not exactly simple to integrate anything into existing point of sale equipment.

There is at least 2 bitcoin specific hardware projects I know of already in development. And my own I wont announce until it is closer to being finished.

I think it is going to be a really big deal to be able to pay in person instead of over the internet. And barcodes and qr codes are not the way to do it (well maybe that's fine on some smart phones)

The most simple solution for Bitcoin POS at this juncture in Bitcoin's growth is going to be a debit card funded with Bitcoin -- not a third-party thing like Green Dot cards being funded by freelance exchangers, but something that has an account interface linked to a functional card.   Systems like this already exist -- the most common example being fleet gas cards that denominated in gallons rather than dollars.   More flexible and easier to set up that a gallon-denominated gas system, is an online BTC storage account that keeps the Bitcoins in BTC form, and deducts value based on some floating exchange rate as a USD-denominated card is used at the point of sale. 

It's not the utopian vision of seamless Bitcoin commerce, but it is functional Bitcoin commerce than can be achieved now, with existing technologies and not a whole lot of money. 


Frank

Completely disagree that this is trivial and doesn't require alot of money.

You are going to have to sign multi million dollar contracts with interac or whatever card processing giants exist.

jav: http://forum.bitcoin.org/index.php?action=profile;u=4070 (http://forum.bitcoin.org/index.php?action=profile;u=4070)

posted by Meatpile:

I was in that business (specifically, point-of-sale processing and technology) for years; it's what led me to digital currencies, and eventually to Bitcoin as a point of interest. 

I guess triviality and expense are relative, but what I'm talking about takes substantially less than $100,000 to get off the ground; you'll spend more on marketing than development.   Google "white label debit card" for some good sources, e.g. Maverick, who set up branded and otherwise custom debit systems. 


Frank