[ANN] POPULOUS WORLD - Invoice trading platform - PPT

[bnml]

Could someone give me correct links to the slack/telegram groups? The ones I found were incorrect.

Anyone?

[HodlThroughTheStorm]

http://beta.populous.co/login

I take back my words. I created an account and I am waiting for verification.

HOTT

[drippx]

The POPULOUS coin, which had a bigger gain in 2018, was initially ignored by many people, but now many people can't afford it.
Hey, that's the reality.

[panorama]

Could someone give me correct links to the slack/telegram groups? The ones I found were incorrect.

Anyone?

https://bitpopulous.slack.com

https://t.me/ppttalk

Telegram not an official group though.

[jooj]

http://beta.populous.co/login

I take back my words. I created an account and I am waiting for verification.

HOTT

You waiting for verification of your email or what? so the populous team has committed their promises and launched populous beta version.

[2012]

The POPULOUS coin, which had a bigger gain in 2018, was initially ignored by many people, but now many people can't afford it.
Hey, that's the reality.

Fully agreed with you that's reality this is most promising coin of the year but nobody can denied the fact and big potential of this project. Now most awaiting beta platform is already released for public I believe this will make the growth process much faster than ever.

[luksbit]

The regret of having sold my tokens at very low prices when it was listed on etherdelta I sold my tokens

[nikochanbtc]

If anyone is interested in joining any bounty campaigns, then message directly or leave a post and I will get back to you as soon as possible.

[bnml]

http://beta.populous.co/login

I take back my words. I created an account and I am waiting for verification.

HOTT

You waiting for verification of your email or what? so the populous team has committed their promises and launched populous beta version.

of my identity

EDIT: http://beta.populous.co/login

[denam]

The regret of having sold my tokens at very low prices when it was listed on etherdelta I sold my tokens

You still have chance to undo your mistake because PPT token is still very cheap where its price is heading to. I am more than sure in future you will be back again and will say I regret that I didn't buy when my chances were still available at decent price.

[Belgarathca]

I think there's a great misconception about how Populous platform works. It is not offering invoice factoring or discounting, but rather a loan from the invoice "seller" to the the invoice "buyer", with the faint promise that the loan will be repaid once the invoice "seller" is paid by the ultimate customer. This makes no sense at all. In real factoring/discounting, the sale of the receivable transfers ownership of the receivable to the factor (i.e. the buyer of the invoice), and the factor obtains all of the rights associated with the receivables. Accordingly, the receivable becomes the factor's asset, and the factor obtains the right to receive the payments made by the customer for the invoice amount. In other words, the buyer of the invoice should be the one repaid directly by the ultimate customer, not the seller. Otherwise the seller is being paid twice for the same invoice (once by the invoice buyer and once by the customer); this goes against the very essence of what a factoring transaction is. It is also possible to structure a collateralized loan transaction that uses the invoices as collateral for the ultimate repayment of the loan, but that isn't what Populous is doing. In fact, the transaction that Populous is envisioning makes no sense at all.

The way you describe how Populous works is just wrong. It IS an actual sale of the invoice at a discounted price. I suggest you some more research on the process.

That said, it's a variation of invoice discounting and I'm not aware of any existing models that are similar, so you can't really make a direct comparison to traditional factoring or discounting. It'll compete in the same market, but it's not exactly the same type of business.

If it were indeed, as you say, a sale of the invoice at a discounted price, then why is the process described as follows on Populous's website (https://populous.co/about-platform.html):

-Deposits must be exchanged to Pokens.
-Invoice buyer transfers Pokens to invoice seller.
-Invoice seller transfers Pokens to invoice buyer on repayment of invoice.
-Withdrawal of funds in government currencies, Bitcoin or Ethereum.

It is pretty clear from the above that the invoice seller is the one who is ultimately repaid by the customer, which is the very antithesis of an invoice sale or factoring transaction. You can clearly see in the process above that the invoice seller gets paid twice, once by the invoice buyer (in Pokens) and once by the ultimate customer (in fiat). The reason real factoring transactions don't work like this is that they are structured in such a way as to avoid the moral hazard of seller non-compliance. In real factoring, when an invoice is sold, ownership of the invoice is transferred to the buyer, so that the buyer recovers directly from the customer. That is the very essence of factoring/invoice discounting.

This same process is explained in further detail on page 16-17 of the Feb 2017 Whitepaper https://web.archive.org/web/20170606070843/http://populous.co/populous_whitepaper.pdf:

If the auction is successful:
1.6.9. The beneficiary of the auction receives the funds from the investor group, which has won the auction.
1.6.10. The investors from the other investor groups are refunded their bids.
1.6.11. When the borrower cashes the invoice, which he has auctioned, he sends the money to the platform.
1.6.12. When the funds are received, the investors from the investor group, which has won the auction, receive their winnings. Each investor receives dividends propor-tional to his bidding contributions.

You can see clearly above that invoice "seller" is paid funds once by the investor group (paragraph 1.6.9.) and then a second time by the customer when the invoice is cashed out (paragraph 1.6.11.). From a functional perspective, this cannot be a "sale" of the invoice, because in such case the "seller" cannot be repaid directly by the customer, the right of repayment having been transferred to the buyer. Now, when you take away the right of direct repayment from the invoice "buyer", then this becomes nothing more than a simple loan, or an "IOU". There is no collateralization or other defensive mechanism protecting the invoice "buyer" from the seller's eventual non-compliance. In fact, there isn't even a way for the invoice "buyer" to know whether the invoice has been repaid/cashed out.

You should really be asking yourself whether it's a good idea to invest in a team that can't even properly explain how a factoring transaction works... perhaps this is because they have absolutely no experience in this field.

- Borrowers or invoice sellers sell their invoices at a discount depending on the risk credit rating calculated. So an invoice may be worth $1000 and the borrower may sell it for 10% less of it's value which is $900. This will rewarded the invested with $100 profit.

- If the borrower/invoice seller sells his invoices through Populous, they will receive Pokens from the sale which they can send to us and we will transfer them fiat currency equivalent or they can keep the Pokens and do what they want with them. The invoice seller can transfer Pokens outside the platform to his/her wallet or sell even sell on other exchanges. Pokens are worth the same as the fiat currency the inovice was sold in.  

To offset the risk of default for any invoice sold by a invoice seller, There are three main things ppt do but this is on cases by case basis.

1) Credit insurance: Which is for large invoice amounts.
2) Charge on the invoice sellers company. Which is often known as a debenture registered a against the invoice sellers company.
3) Directors personal guarantee.

By taking out credit insurance the insurance company basically says they will cover the value of the invoice if the invoice sellers customer does not pay. A debenture will allow the assets of the invoice sellers company to be legal taken to settle the debt should the invoice not be paid. Directors personal guarantee would allow recovery of the debt in a worst case scenario by selling property of the invoice seller, such as his or her house.

These are used as recovery options and which are installed in the process of risk management of the invoice sale. Prior to that PPT carry our a full check on both the invoice seller and their customer in order to not get to the stage in which there would be a default.

Wow, an official response from PPT staff, I am honoured!

You are not addressing my main point; that the transaction as you have described cannot be a true sale of invoice (factoring) as long as the seller of the invoice is the one that receives payment from the customer (debtor). Even in "non-notification factoring", the buyer of the invoice (factor) assumes the identity of the invoice seller, and recovers money directly to an account controlled by them. Again, the idea that the seller should cash out on an invoice is the very antithesis of invoice factoring.

The object of credit insurance is to insure against default by the customer (debtor) who is liable on the invoice, not the risk of non-repayment by the seller. Credit insurance never insures against the moral hazard that the invoice seller refuses to repay the invoice buyer, simply because factoring transactions don't require this type of coverage when they are structured properly (not the case on Populous platform).

The next two defensive mechanisms you have outlined are typical in recourse factoring, however Populous is not a factoring platform, so again you are mixing up concepts. At best, Populous offers invoice discounting without the protections that are typically seen in those types of transactions.

If you are still insisting that Populous does offer factoring solutions (and true sale of invoices), I challenge you to find a single public internet source where factoring is described in such a manner that the 1) invoice seller is advanced funds by the factor when the invoice is sold and 2) the invoice seller recovers funds from the customer in their own bank account and 3) transfers the money to the invoice buyer's account.

If you type "How does invoice factoring work", here are the first 10 results that appear:

1) https://www.comcapfactoring.com/blog/how-does-invoice-factoring-work/

Most factoring companies purchase invoices in two installments. The first installment – the factoring advance – covers about 80% of the receivable (this amount varies). The remaining 20%, less the factoring fee, is rebated as soon as your client pays the invoice in full. (this clearly implies that the invoice buyer receives the funds since they rebate the 20% balance, less the factoring fee

2) https://fitsmallbusiness.com/how-invoice-factoring-works/

Step 4. Your Client Pays the Factor
Your client will pay the factor within 90 days according to the terms of the invoice.

Step 5. The Factor Forwards You the Remaining Balance (Minus Fees)
After receiving payment from your client, the factor will give you the remaining balance of the invoice, called the reserve amount, minus their fees.

3) https://www.cit.com/thought-leadership/how-does-factoring-work/

Step 3: Factoring Company Collects from Retailer
At invoice maturity, the factoring company collects from the retailer and credits the supplier's account. The factor fully manages the accounts receivable including the lock box, cash application and collection of past dues. Retailer deductions or disputes over delivery terms or product are reported to the supplier. The factor maintains the accounts receivable ledgers and provides this information to the supplier electronically via Internet reporting capabilities.


4) http://www.rtsfinancial.com/guides/what-factoring

Factoring is a transaction in which a business sells its invoices, or receivables, to a third-party financial company known as a “factor.” The factor then collects payment on those invoices from the business’s customers.


And so on...

[panorama]

I think there's a great misconception about how Populous platform works. It is not offering invoice factoring or discounting, but rather a loan from the invoice "seller" to the the invoice "buyer", with the faint promise that the loan will be repaid once the invoice "seller" is paid by the ultimate customer. This makes no sense at all. In real factoring/discounting, the sale of the receivable transfers ownership of the receivable to the factor (i.e. the buyer of the invoice), and the factor obtains all of the rights associated with the receivables. Accordingly, the receivable becomes the factor's asset, and the factor obtains the right to receive the payments made by the customer for the invoice amount. In other words, the buyer of the invoice should be the one repaid directly by the ultimate customer, not the seller. Otherwise the seller is being paid twice for the same invoice (once by the invoice buyer and once by the customer); this goes against the very essence of what a factoring transaction is. It is also possible to structure a collateralized loan transaction that uses the invoices as collateral for the ultimate repayment of the loan, but that isn't what Populous is doing. In fact, the transaction that Populous is envisioning makes no sense at all.

The way you describe how Populous works is just wrong. It IS an actual sale of the invoice at a discounted price. I suggest you some more research on the process.

That said, it's a variation of invoice discounting and I'm not aware of any existing models that are similar, so you can't really make a direct comparison to traditional factoring or discounting. It'll compete in the same market, but it's not exactly the same type of business.

If it were indeed, as you say, a sale of the invoice at a discounted price, then why is the process described as follows on Populous's website (https://populous.co/about-platform.html):

-Deposits must be exchanged to Pokens.
-Invoice buyer transfers Pokens to invoice seller.
-Invoice seller transfers Pokens to invoice buyer on repayment of invoice.
-Withdrawal of funds in government currencies, Bitcoin or Ethereum.

It is pretty clear from the above that the invoice seller is the one who is ultimately repaid by the customer, which is the very antithesis of an invoice sale or factoring transaction. You can clearly see in the process above that the invoice seller gets paid twice, once by the invoice buyer (in Pokens) and once by the ultimate customer (in fiat). The reason real factoring transactions don't work like this is that they are structured in such a way as to avoid the moral hazard of seller non-compliance. In real factoring, when an invoice is sold, ownership of the invoice is transferred to the buyer, so that the buyer recovers directly from the customer. That is the very essence of factoring/invoice discounting.

This same process is explained in further detail on page 16-17 of the Feb 2017 Whitepaper https://web.archive.org/web/20170606070843/http://populous.co/populous_whitepaper.pdf:

If the auction is successful:
1.6.9. The beneficiary of the auction receives the funds from the investor group, which has won the auction.
1.6.10. The investors from the other investor groups are refunded their bids.
1.6.11. When the borrower cashes the invoice, which he has auctioned, he sends the money to the platform.
1.6.12. When the funds are received, the investors from the investor group, which has won the auction, receive their winnings. Each investor receives dividends propor-tional to his bidding contributions.

You can see clearly above that invoice "seller" is paid funds once by the investor group (paragraph 1.6.9.) and then a second time by the customer when the invoice is cashed out (paragraph 1.6.11.). From a functional perspective, this cannot be a "sale" of the invoice, because in such case the "seller" cannot be repaid directly by the customer, the right of repayment having been transferred to the buyer. Now, when you take away the right of direct repayment from the invoice "buyer", then this becomes nothing more than a simple loan, or an "IOU". There is no collateralization or other defensive mechanism protecting the invoice "buyer" from the seller's eventual non-compliance. In fact, there isn't even a way for the invoice "buyer" to know whether the invoice has been repaid/cashed out.

You should really be asking yourself whether it's a good idea to invest in a team that can't even properly explain how a factoring transaction works... perhaps this is because they have absolutely no experience in this field.

- Borrowers or invoice sellers sell their invoices at a discount depending on the risk credit rating calculated. So an invoice may be worth $1000 and the borrower may sell it for 10% less of it's value which is $900. This will rewarded the invested with $100 profit.

- If the borrower/invoice seller sells his invoices through Populous, they will receive Pokens from the sale which they can send to us and we will transfer them fiat currency equivalent or they can keep the Pokens and do what they want with them. The invoice seller can transfer Pokens outside the platform to his/her wallet or sell even sell on other exchanges. Pokens are worth the same as the fiat currency the inovice was sold in.  

To offset the risk of default for any invoice sold by a invoice seller, There are three main things ppt do but this is on cases by case basis.

1) Credit insurance: Which is for large invoice amounts.
2) Charge on the invoice sellers company. Which is often known as a debenture registered a against the invoice sellers company.
3) Directors personal guarantee.

By taking out credit insurance the insurance company basically says they will cover the value of the invoice if the invoice sellers customer does not pay. A debenture will allow the assets of the invoice sellers company to be legal taken to settle the debt should the invoice not be paid. Directors personal guarantee would allow recovery of the debt in a worst case scenario by selling property of the invoice seller, such as his or her house.

These are used as recovery options and which are installed in the process of risk management of the invoice sale. Prior to that PPT carry our a full check on both the invoice seller and their customer in order to not get to the stage in which there would be a default.

Wow, an official response from PPT staff, I am honoured!

You are not addressing my main point; that the transaction as you have described cannot be a true sale of invoice (factoring) as long as the seller of the invoice is the one that receives payment from the customer (debtor). Even in "non-notification factoring", the buyer of the invoice (factor) assumes the identity of the invoice seller, and recovers money directly to an account controlled by them. Again, the idea that the seller should cash out on an invoice is the very antithesis of invoice factoring.

The object of credit insurance is to insure against default by the customer (debtor) who is liable on the invoice, not the risk of non-repayment by the seller. Credit insurance never insures against the moral hazard that the invoice seller refuses to repay the invoice buyer, simply because factoring transactions don't require this type of coverage when they are structured properly (not the case on Populous platform).

The next two defensive mechanisms you have outlined are typical in recourse factoring, however Populous is not a factoring platform, so again you are mixing up concepts. At best, Populous offers invoice discounting without the protections that are typically seen in those types of transactions.

If you are still insisting that Populous does offer factoring solutions (and true sale of invoices), I challenge you to find a single public internet source where factoring is described in such a manner that the 1) invoice seller is advanced funds by the factor when the invoice is sold and 2) the invoice seller recovers funds from the customer in their own bank account and 3) transfers the money to the invoice buyer's account.

If you type "How does invoice factoring work", here are the first 10 results that appear:

1) https://www.comcapfactoring.com/blog/how-does-invoice-factoring-work/

Most factoring companies purchase invoices in two installments. The first installment – the factoring advance – covers about 80% of the receivable (this amount varies). The remaining 20%, less the factoring fee, is rebated as soon as your client pays the invoice in full. (this clearly implies that the invoice buyer receives the funds since they rebate the 20% balance, less the factoring fee

2) https://fitsmallbusiness.com/how-invoice-factoring-works/

Step 4. Your Client Pays the Factor
Your client will pay the factor within 90 days according to the terms of the invoice.

Step 5. The Factor Forwards You the Remaining Balance (Minus Fees)
After receiving payment from your client, the factor will give you the remaining balance of the invoice, called the reserve amount, minus their fees.

3) https://www.cit.com/thought-leadership/how-does-factoring-work/

Step 3: Factoring Company Collects from Retailer
At invoice maturity, the factoring company collects from the retailer and credits the supplier's account. The factor fully manages the accounts receivable including the lock box, cash application and collection of past dues. Retailer deductions or disputes over delivery terms or product are reported to the supplier. The factor maintains the accounts receivable ledgers and provides this information to the supplier electronically via Internet reporting capabilities.


4) http://www.rtsfinancial.com/guides/what-factoring

Factoring is a transaction in which a business sells its invoices, or receivables, to a third-party financial company known as a “factor.” The factor then collects payment on those invoices from the business’s customers.


And so on...

Again, you can't just pull the definition of "factoring" and say Populous won't work because it doesn't fit the description. It's intentionally different. I understand your point about how the seller will receive cash from both sides, but I don't think it's accounts that they control. I don't know the mechanics for certain, but there are a couple of simple solutions that make sense so that's how I expect it to work out. It's not that hard of an issue to deal with so I'm not particularly worried that Populous is just going to leave open the risk that the Seller takes money from both sides and disappears.

[qiman]

The regret of having sold my tokens at very low prices when it was listed on etherdelta I sold my tokens

This is unfortunate as most bounty hunters usually dump their coins instantly as soon as they get their hand son their coins. This should be a lesson to many that sometimes holding for a period of time can earn you big gains if you are patient and maybe from this you can learn to at least hold a percentage from your bounties. My Wife she just did the populous twitter bounty and received 270 coins and she kept them and also kept adding as she saw the potential of it. This has a great future this token and it sometimes pays to hold. I hope if you have other good coins you hold some and maybe buy a few PPT because it may grow further and now it is still fairly cheap in this dip. Good luck and I pray you can afford to purchase some soon.

[ka82]

I think there's a great misconception about how Populous platform works. It is not offering invoice factoring or discounting, but rather a loan from the invoice "seller" to the the invoice "buyer", with the faint promise that the loan will be repaid once the invoice "seller" is paid by the ultimate customer. This makes no sense at all. In real factoring/discounting, the sale of the receivable transfers ownership of the receivable to the factor (i.e. the buyer of the invoice), and the factor obtains all of the rights associated with the receivables. Accordingly, the receivable becomes the factor's asset, and the factor obtains the right to receive the payments made by the customer for the invoice amount. In other words, the buyer of the invoice should be the one repaid directly by the ultimate customer, not the seller. Otherwise the seller is being paid twice for the same invoice (once by the invoice buyer and once by the customer); this goes against the very essence of what a factoring transaction is. It is also possible to structure a collateralized loan transaction that uses the invoices as collateral for the ultimate repayment of the loan, but that isn't what Populous is doing. In fact, the transaction that Populous is envisioning makes no sense at all.

The way you describe how Populous works is just wrong. It IS an actual sale of the invoice at a discounted price. I suggest you some more research on the process.

That said, it's a variation of invoice discounting and I'm not aware of any existing models that are similar, so you can't really make a direct comparison to traditional factoring or discounting. It'll compete in the same market, but it's not exactly the same type of business.

If it were indeed, as you say, a sale of the invoice at a discounted price, then why is the process described as follows on Populous's website (https://populous.co/about-platform.html):

-Deposits must be exchanged to Pokens.
-Invoice buyer transfers Pokens to invoice seller.
-Invoice seller transfers Pokens to invoice buyer on repayment of invoice.
-Withdrawal of funds in government currencies, Bitcoin or Ethereum.

It is pretty clear from the above that the invoice seller is the one who is ultimately repaid by the customer, which is the very antithesis of an invoice sale or factoring transaction. You can clearly see in the process above that the invoice seller gets paid twice, once by the invoice buyer (in Pokens) and once by the ultimate customer (in fiat). The reason real factoring transactions don't work like this is that they are structured in such a way as to avoid the moral hazard of seller non-compliance. In real factoring, when an invoice is sold, ownership of the invoice is transferred to the buyer, so that the buyer recovers directly from the customer. That is the very essence of factoring/invoice discounting.

This same process is explained in further detail on page 16-17 of the Feb 2017 Whitepaper https://web.archive.org/web/20170606070843/http://populous.co/populous_whitepaper.pdf:

If the auction is successful:
1.6.9. The beneficiary of the auction receives the funds from the investor group, which has won the auction.
1.6.10. The investors from the other investor groups are refunded their bids.
1.6.11. When the borrower cashes the invoice, which he has auctioned, he sends the money to the platform.
1.6.12. When the funds are received, the investors from the investor group, which has won the auction, receive their winnings. Each investor receives dividends propor-tional to his bidding contributions.

You can see clearly above that invoice "seller" is paid funds once by the investor group (paragraph 1.6.9.) and then a second time by the customer when the invoice is cashed out (paragraph 1.6.11.). From a functional perspective, this cannot be a "sale" of the invoice, because in such case the "seller" cannot be repaid directly by the customer, the right of repayment having been transferred to the buyer. Now, when you take away the right of direct repayment from the invoice "buyer", then this becomes nothing more than a simple loan, or an "IOU". There is no collateralization or other defensive mechanism protecting the invoice "buyer" from the seller's eventual non-compliance. In fact, there isn't even a way for the invoice "buyer" to know whether the invoice has been repaid/cashed out.

You should really be asking yourself whether it's a good idea to invest in a team that can't even properly explain how a factoring transaction works... perhaps this is because they have absolutely no experience in this field.

- Borrowers or invoice sellers sell their invoices at a discount depending on the risk credit rating calculated. So an invoice may be worth $1000 and the borrower may sell it for 10% less of it's value which is $900. This will rewarded the invested with $100 profit.

- If the borrower/invoice seller sells his invoices through Populous, they will receive Pokens from the sale which they can send to us and we will transfer them fiat currency equivalent or they can keep the Pokens and do what they want with them. The invoice seller can transfer Pokens outside the platform to his/her wallet or sell even sell on other exchanges. Pokens are worth the same as the fiat currency the inovice was sold in.  

To offset the risk of default for any invoice sold by a invoice seller, There are three main things ppt do but this is on cases by case basis.

1) Credit insurance: Which is for large invoice amounts.
2) Charge on the invoice sellers company. Which is often known as a debenture registered a against the invoice sellers company.
3) Directors personal guarantee.

By taking out credit insurance the insurance company basically says they will cover the value of the invoice if the invoice sellers customer does not pay. A debenture will allow the assets of the invoice sellers company to be legal taken to settle the debt should the invoice not be paid. Directors personal guarantee would allow recovery of the debt in a worst case scenario by selling property of the invoice seller, such as his or her house.

These are used as recovery options and which are installed in the process of risk management of the invoice sale. Prior to that PPT carry our a full check on both the invoice seller and their customer in order to not get to the stage in which there would be a default.

Wow, an official response from PPT staff, I am honoured!

You are not addressing my main point; that the transaction as you have described cannot be a true sale of invoice (factoring) as long as the seller of the invoice is the one that receives payment from the customer (debtor). Even in "non-notification factoring", the buyer of the invoice (factor) assumes the identity of the invoice seller, and recovers money directly to an account controlled by them. Again, the idea that the seller should cash out on an invoice is the very antithesis of invoice factoring.

The object of credit insurance is to insure against default by the customer (debtor) who is liable on the invoice, not the risk of non-repayment by the seller. Credit insurance never insures against the moral hazard that the invoice seller refuses to repay the invoice buyer, simply because factoring transactions don't require this type of coverage when they are structured properly (not the case on Populous platform).

The next two defensive mechanisms you have outlined are typical in recourse factoring, however Populous is not a factoring platform, so again you are mixing up concepts. At best, Populous offers invoice discounting without the protections that are typically seen in those types of transactions.

If you are still insisting that Populous does offer factoring solutions (and true sale of invoices), I challenge you to find a single public internet source where factoring is described in such a manner that the 1) invoice seller is advanced funds by the factor when the invoice is sold and 2) the invoice seller recovers funds from the customer in their own bank account and 3) transfers the money to the invoice buyer's account.

If you type "How does invoice factoring work", here are the first 10 results that appear:

1) https://www.comcapfactoring.com/blog/how-does-invoice-factoring-work/

Most factoring companies purchase invoices in two installments. The first installment – the factoring advance – covers about 80% of the receivable (this amount varies). The remaining 20%, less the factoring fee, is rebated as soon as your client pays the invoice in full. (this clearly implies that the invoice buyer receives the funds since they rebate the 20% balance, less the factoring fee

2) https://fitsmallbusiness.com/how-invoice-factoring-works/

Step 4. Your Client Pays the Factor
Your client will pay the factor within 90 days according to the terms of the invoice.

Step 5. The Factor Forwards You the Remaining Balance (Minus Fees)
After receiving payment from your client, the factor will give you the remaining balance of the invoice, called the reserve amount, minus their fees.

3) https://www.cit.com/thought-leadership/how-does-factoring-work/

Step 3: Factoring Company Collects from Retailer
At invoice maturity, the factoring company collects from the retailer and credits the supplier's account. The factor fully manages the accounts receivable including the lock box, cash application and collection of past dues. Retailer deductions or disputes over delivery terms or product are reported to the supplier. The factor maintains the accounts receivable ledgers and provides this information to the supplier electronically via Internet reporting capabilities.


4) http://www.rtsfinancial.com/guides/what-factoring

Factoring is a transaction in which a business sells its invoices, or receivables, to a third-party financial company known as a “factor.” The factor then collects payment on those invoices from the business’s customers.


And so on...

Again, you can't just pull the definition of "factoring" and say Populous won't work because it doesn't fit the description. It's intentionally different. I understand your point about how the seller will receive cash from both sides, but I don't think it's accounts that they control. I don't know the mechanics for certain, but there are a couple of simple solutions that make sense so that's how I expect it to work out. It's not that hard of an issue to deal with so I'm not particularly worried that Populous is just going to leave open the risk that the Seller takes money from both sides and disappears.

Disclaimer: I'm not Populous staff...I copied/pasted the answer from PPT in page 10 of this thread...

What you're talking is Invoice Factoring....Populous is about Invoice Discounting/Financing....meaning the customer of the business is not aware of the arrangement between the Business & Lender (invoice buyer).

[Dahman El_Harrachi]

another month and still no BETA we are waiting for months since november as i remember january should be full lanch not BETA..cmon Nico ur black u should work fast as black peeps do 

[Sagarrupani]

another month and still no BETA we are waiting for months since november as i remember january should be full lanch not BETA..cmon Nico ur black u should work fast as black peeps do 

Guys! BETA is out! Please go to beta.populous.co. You can sign up there. I can confirm it! When you sign up there is an option of investors and borrowers. You can sign up now!!!! 

Just waiting for their official tweet for populous to skyrocket!

[ka82]

another month and still no BETA we are waiting for months since november as i remember january should be full lanch not BETA..cmon Nico ur black u should work fast as black peeps do 

Guys! BETA is out! Please go to beta.populous.co. You can sign up there. I can confirm it! When you sign up there is an option of investors and borrowers. You can sign up now!!!! 

Just waiting for their official tweet for populous to skyrocket!

The email verification link doesn't work for me!

[panorama]

another month and still no BETA we are waiting for months since november as i remember january should be full lanch not BETA..cmon Nico ur black u should work fast as black peeps do 

Guys! BETA is out! Please go to beta.populous.co. You can sign up there. I can confirm it! When you sign up there is an option of investors and borrowers. You can sign up now!!!! 

Just waiting for their official tweet for populous to skyrocket!

The email verification link doesn't work for me!

It worked for me yesterday.

[the_thing]

another month and still no BETA we are waiting for months since november as i remember january should be full lanch not BETA..cmon Nico ur black u should work fast as black peeps do 

Guys! BETA is out! Please go to beta.populous.co. You can sign up there. I can confirm it! When you sign up there is an option of investors and borrowers. You can sign up now!!!! 

Just waiting for their official tweet for populous to skyrocket!

Yay! the wait is finally over but Because of bitcoin's fall the price of PPT fell to 52 i just hope btc start going back up real soon.

[cryptosteron]

Hey guys,

is the beta now officially released? Or did i mis a tweet?
I guess communication to the public could be better, the last news update on their website is from august 
https://populous.co/press.html

Grts!