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Author Topic: BTC Service Proposal - Bitcoin Valet - Pay for anything online with your BTC  (Read 3250 times)
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February 05, 2013, 07:11:56 PM

The basic concept is pretty simple. You have Bitcoins and want to buy something from an online store, pay a bill online or even order some delivery, but they only accept USD through a valid credit/debit card. You send me the Bitcoins at a 1:1 ratio (MTgox Last: USD) plus the service fee (10%), then I make the purchase with my card.

This is a service proposal, and something I am willing to try out. I am looking for input and feedback. At this time I am looking for a handful of people interested in this type of service. I will personally be performing this service and working alone. If it becomes successful or in demand it will be offered publicly through a website and additional agents may be brought in.

The current maximum purchase is $300. This can be increased for trusted or repeat buyers, and will be raised incrementally as transactions are processed.

This is how the process will flow.

Buyer = You - Wanting to make online purchases for the dollar value of your bitcoins.
Agent = Me - Takes your bitcoins and makes the purchase with my valid card immediately upon the first confirmation of the BTC received.
Vendor = The store or service provider that you want to purchase from, but they do not accept Bitcoins.

Step 1: The buyer initiates contact with the agent. At this point it will be done through Skype, other messenger, or through #bitcoin-otc.
Step 2: The buyer will tell the agent what they want to purchase.
Step 3: The agent will initiate the order process with the vendor, check that the purchase can be made within the terms of the service, and get a total including shipping.
Step 4: The agent will quote the buyer the total cost in Bitcoins including the 10% service fee. The quote will be good for up to 45 minutes. If the 45 minute time period is exceeded and the buyer still wants to complete the transaction, a re-quote may be necessary. The quote is based on the total cost in USD divided by the MTgox last price.
Step 5: The buyer sends the quoted amount of Bitcoins. After 1 confirmation the purchase will be completed through the vendor.
Step 6: The agent will send copies of any invoices, receipts, tracking info, etc. to the buyer. Any personal or billing info may be redacted.  

The Bitcoin Valet service is now considered complete. The agent can offer no guarantee as to the experience between the buyer and the vendor. As this is meant to be an ongoing and evolving service, the agent will do everything in their power to satisfy the needs of the buyer. If there are discrepancies with the vendor and the agent is needed to help resolve the issue, that service will be extended to the buyer at no additional fee. The agent will not initiate chargebacks, but If for some reason there is a legitimate need to do a refund through the vendor the agent will aid in the process. In the event of a refund through the vendor, the buyer will be sent the full value of the refund in the current value of Bitcoins, or in USD through Paypal once the agent confirms the refund has been funded. The service fee will not be refunded unless the issue was caused by an error on the agent's part.
This can be used for purchases on any major online retailer such as Amazon, Newegg or eBay. For online stores I would use my own account to make the purchase, and the products would be shipped to you.
For online bill payments it would need to be in a way where I could go in and pay without exposing any of the billing information. I know for example this can be done for many cell phone providers where anyone can go to their website, click a bill pay link, put in the phone number and pay the bill. This can also be used to order delivery from a local restaurant, so long as I can call them, place the order, and give my billing info over the phone. The buyer will decide a tip amount in advance.

Who am I, and why should you trust me?
I have been an independent service provider in technology and information services for the better part of 15 years. Over the past couple years I have become very interested in alternative currency and Bitcoins, and have been trying to come up with a good concept for a BTC related business. I have clients throughout South Florida that I could provide as references. I am rated on #bitcoin-otc. I have no issues providing copies of government issued identification. Purchases are made using all my valid information. The only thing I am not willing to reveal is billing information regarding the card used, for obvious reasons. These are not gift cards or some prepaid thing, it is attached to my personal account. If this service picks up it will done through a business account.

Please let me know what you think, any feedback is appreciated. I will stay active on this board and respond to any replies or PMs.

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