[Paybear] What do you think of this new website?

[DrakeDG]

PAYBEAR

Telegram • Twitter • Facebook

Website is accepting multiple cryptocurrency aiming to bridge cryptocurrency holder and online stores. As we can see the main problem right now with cryptocurrency is the mass adoption together with the instability of price and eccommerce having problems with integrating crypto.

FAQ:

1. Why offer crypto payments?

Ans. Crypto payments are fast, secure and anonymous, they are cheaper to process and hence are widely used by businesses in all areas. Best of all, there is no chance of Chargeback or fraud! We are proud to provide one of best crypto payment solutions in the industry to both buyers and sellers.

2. Where is my money stored?

Ans. We do not hold or store your money. All your funds are sent to your wallet that only you have control over.

3. When do I get my money?

Ans. Once the payment from a customer is received, it is automatically sent to your wallet. This is done immediately, there is no “hold”. We do not have access to your funds after your funds are sent. The whole process typically takes 3 minutes. This delay depends on the Ethereum network load and the sending fee you choose to pay.

4. How many transactions can we process?

Ans. The system is designed to process thousands of transactions per second, so it has no limit in the number of payments we can process. However, for DDoS protection reasons, the API calls are limited to 1000 per minute.

5. Do they accept payments from/to exchanges?

Ans. Customers can pay from any wallet, exchange or even a smart contract. Although its not recommend it, we can also use your exchange address for payouts, provided that it’s reusable.

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[o_e_l_e_o]

Looks like it will be a nice product if they can pull it off. Adoption will be their biggest hurdle I think.

A couple of issues, however:

How can they promise "From the customer’s wallet to the merchant’s wallet in a few minutes", when we recently saw the blockchain being so congested that payments were taking 24+ hours.

They heavily feature "low fees" and "free introductory pricing" on the website, but they don't tell you what the fees will be after the introductory period.

[DrakeDG]

Looks like it will be a nice product if they can pull it off. Adoption will be their biggest hurdle I think.

A couple of issues, however:

How can they promise "From the customer’s wallet to the merchant’s wallet in a few minutes", when we recently saw the blockchain being so congested that payments were taking 24+ hours.

They heavily feature "low fees" and "free introductory pricing" on the website, but they don't tell you what the fees will be after the introductory period.

I had joined their telegram group, and have asked this same question. They say that although BTC as we know have problems in terms of congestion, they have allowed other cryptocurrency to give customer an option.

[ManaMan]

Thing with crypto is to cut off middleman because with middleman you have somebody controlling your money and you have to trust that company. Al tough some business find it way easier to simply go with an existing API that will do all the fuzz in the background.

As it goes for the website it has good looking design. I don't really understand the business model you are using. If I understood you correctly: buyers make payments to your address and then those coins are automatically swept to merchants wallet? If all we pay is the sending fee I don't quite understand how will you actually make money, since sending fee is required by the network? I guess you have some fee applied when buyers make their orders?

[Scotshield]

Apparently it will be a good product if it actually happens.

[DrakeDG]

Thing with crypto is to cut off middleman because with middleman you have somebody controlling your money and you have to trust that company. Al tough some business find it way easier to simply go with an existing API that will do all the fuzz in the background.

As it goes for the website it has good looking design. I don't really understand the business model you are using. If I understood you correctly: buyers make payments to your address and then those coins are automatically swept to merchants wallet? If all we pay is the sending fee I don't quite understand how will you actually make money, since sending fee is required by the network? I guess you have some fee applied when buyers make their orders?

Your correct on some part. BTW, I am just a supporter hoping to publish their ICO here on BTT since there's no official ANN post for them. They will act just like paypal or stripe, but in cryptocurrency.

*Actually, their target is those eCommerce websites looking to accept cryptocurrency payment. Their API will be installed to an online store allowing us to purchase anything using our Coins without the hassle of converting it to USD first.

[DrakeDG]

Apparently it will be a good product if it actually happens.

Paybear had partenered with MakerDao, don't know if there's any supporters of makerdao here on bitcointalk to support this.

[nc50lc]

Your correct on some part. BTW, I am just a supporter hoping to publish their ICO here on BTT since there's no official ANN post for them. They will act just like paypal or stripe, but in cryptocurrency.

I looked at the site. So this thread isn't about feedback and suggestions but an ANN thread in disguise?

The project's goal will be phenomenal if it can reach the mainstream.
Although this isn't the first, as long as they can stick to their roadmap and with the right advertising, success will follow.

#3, for me, online payments must be done offchain (via services like coins or exchanges) to avoid delays especially at high network load.
This can make zero transaction fees too because there will be no coins going out and in their system, or they're just doing this in the background but only claiming that we need fees.

Otherwise, cryptocurrencies alone can be used without these type of services as long as the online stores are accepting them.
So what's the point of being the broker if it just process the payments on-chain?

[DrakeDG]

Your correct on some part. BTW, I am just a supporter hoping to publish their ICO here on BTT since there's no official ANN post for them. They will act just like paypal or stripe, but in cryptocurrency.

I looked at the site. So this thread isn't about feedback and suggestions but an ANN thread in disguise?

The project's goal will be phenomenal if it can reach the mainstream.
Although this isn't the first, as long as they can stick to their roadmap and with the right advertising, success will follow.

#3, for me, online payments must be done offchain (via services like coins or exchanges) to avoid delays especially at high network load.
This can make zero transaction fees too because there will be no coins going out and in their system, or they're just doing this in the background but only claiming that we need fees.

Otherwise, cryptocurrencies alone can be used without these type of services as long as the online stores are accepting them.
So what's the point of being the broker if it just process the payments on-chain?

This not the Official Ann thread (although, I hope so).  

The problem with eCommerce right now is they are Hesitant to accept cryptocurrency, or they are just too busy to make changes on their website. That's were this 3rd party application comes in. Well, although its too early to tell if Paybear would be successful or not. But, this kind of visions helps cryptocurrency be accepted by more people. What do you think? I know there are already products like this one, but I think paybear is offering at much cheaper cost.

[ActiveWizard77]

Your correct on some part. BTW, I am just a supporter hoping to publish their ICO here on BTT since there's no official ANN post for them. They will act just like paypal or stripe, but in cryptocurrency.

I looked at the site. So this thread isn't about feedback and suggestions but an ANN thread in disguise?

The project's goal will be phenomenal if it can reach the mainstream.
Although this isn't the first, as long as they can stick to their roadmap and with the right advertising, success will follow.

#3, for me, online payments must be done offchain (via services like coins or exchanges) to avoid delays especially at high network load.
This can make zero transaction fees too because there will be no coins going out and in their system, or they're just doing this in the background but only claiming that we need fees.

Otherwise, cryptocurrencies alone can be used without these type of services as long as the online stores are accepting them.
So what's the point of being the broker if it just process the payments on-chain?

Yeah its true they act more likely as a median or a broker, One thing that will lead their success is that if they can reach a lot of eCommerce site to accept and install their API. The focus of paybear right now is to reach as many eCommerce site as possible and not really focusing on Coin offering. And the roadmap seems pretty much possible to achieve.

[hopingman05]

Hello

I have a question about paybear, how is your product different from other competitors that are already in the market like bitpay, coinpayment and shifty button? And one more thing, will you be able to add more feature to your product something like google chrome extension, etc.? Thanks

[DrakeDG]

Hello

I have a question about paybear, how is your product different from other competitors that are already in the market like bitpay, coinpayment and shifty button? And one more thing, will you be able to add more feature to your product something like google chrome extension, etc.? Thanks

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Sadly, paybear's focus right now is bringing closer eCommerce and Crypto-enthusiasts the API is meant for online store, the team said the main purpose of Paybear is a system for merchants to accept payment. But it would be good if you'll ask directly their team to be able to help you with your concern.

[Clifmeister]

Hello

I have a question about paybear, how is your product different from other competitors that are already in the market like bitpay, coinpayment and shifty button? And one more thing, will you be able to add more feature to your product something like google chrome extension, etc.? Thanks

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Sadly, paybear's focus right now is bringing closer eCommerce and Crypto-enthusiasts the API is meant for online store, the team said the main purpose of Paybear is a system for merchants to accept payment. But it would be good if you'll ask directly their team to be able to help you with your concern.

Does this mean that regular individuals can't use Paybear's website to send and receive payment like Paypal?

[FireShark89]

Just checked their site and I think (Not sure) it's mainly a payment channel for merchants. I hope that they can expand so that non-merchants can use their low fee service like Paypal and Bitpay.

[DrakeDG]

Does this mean that regular individuals can't use Paybear's website to send and receive payment like Paypal?

As I said on my comment, right now the main focus of their team is to be able to provide merchants w/ no cryptocurrency payment option the ability to receive payments from us the "Crypto holders".

Just checked their site and I think (Not sure) it's mainly a payment channel for merchants. I hope that they can expand so that non-merchants can use their low fee service like Paypal and Bitpay.

In their telegram an Admin said: "Paybear is focusing on the merchants but it doesn't mean that we will not launch an ICO." I think their plan is to settle first before launching it, IMO.

[DrakeDG]

Just to add, here's a recent Q & A from the admin on their telegram about the current fee of paybear.



I do hope that they will keep their promise.

[Coyoteerex09]

Just checked their site and I think (Not sure) it's mainly a payment channel for merchants. I hope that they can expand so that non-merchants can use their low fee service like Paypal and Bitpay.

Paybear is planning to implement a wallet system by the Q2 of 2018 as they are also planning to launch an ICO for their own cryptocurrency.

[Harlequill32]

Just to add, here's a recent Q & A from the admin on their telegram about the current fee of paybear.

https://i.imgur.com/xwCaFfp.png

I do hope that they will keep their promise.

How many shops have already implemented paybear's api? Is there any recurring fees on using your service? Lastly, how many more cryptocurrency will you add in your service?

[Clifmeister]

Does this mean that regular individuals can't use Paybear's website to send and receive payment like Paypal?

As I said on my comment, right now the main focus of their team is to be able to provide merchants w/ no cryptocurrency payment option the ability to receive payments from us the "Crypto holders".

Just checked their site and I think (Not sure) it's mainly a payment channel for merchants. I hope that they can expand so that non-merchants can use their low fee service like Paypal and Bitpay.

In their telegram an Admin said: "Paybear is focusing on the merchants but it doesn't mean that we will not launch an ICO." I think their plan is to settle first before launching it, IMO.

ok great! Also, less than 1% fee is awesome... Where did u get this news? I'm interested to follow.

[Chandler32]

Just checked their site and I think (Not sure) it's mainly a payment channel for merchants. I hope that they can expand so that non-merchants can use their low fee service like Paypal and Bitpay.

Paybear is planning to implement a wallet system by the Q2 of 2018 as they are also planning to launch an ICO for their own cryptocurrency.

I'd like to know if this new cryptocurrency is the DAI coin they announced a couple weeks back? I think it's not a good coin for trading since it maintains 1:1 value against the dollar, but it's definitely great for payments.

[Barley Hertog]

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Lower fees are declared as the main advantage though no concrete figures are disclosed. Looks shady 

[DrakeDG]

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Lower fees are declared as the main advantage though no concrete figures are disclosed. Looks shady 

Well, if you have looked closely to the website and to the answers I have provided here in the thread then you wouldn't be asking that question. Right now, paybear's fees are at Zero but will certainly changed after the 3 months intro period, but wouldn't be that high compared to current payment gateways right now in the market.

[Psytax]

It will be great if they can pull it off.

[DrakeDG]

It will be great if they can pull it off.

Certainly, What I'm waiting right now is their coin offering based from their roadmap paybear will launch its token in Q2 of 2018. Only if they will be successful with their main target of releasing first their API.

[Clifmeister]

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Lower fees are declared as the main advantage though no concrete figures are disclosed. Looks shady 

I don't blame you for being doubtful since we do need to be careful with our money. IMO, I think they might be legit and will be proven in a few weeks to months from reviews.. It would indeed be awesome if they pull this off.

[DrakeDG]

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Lower fees are declared as the main advantage though no concrete figures are disclosed. Looks shady 

I don't blame you for being doubtful since we do need to be careful with our money. IMO, I think they might be legit and will be proven in a few weeks to months from reviews.. It would indeed be awesome if they pull this off.

For those who are interested of their service it would be much more enlightening to follow their telegram group, *someone messaged me to market this product. To you sir, I don't take any part of this project, I'm just an enthusiast. It would be better if you'll ask them directly about your offer.

[HeroicZ1]

Could you provide more info about their official Telegram group so I can look it up?

[DrakeDG]

Could you provide more info about their official Telegram group so I can look it up?

Here's the official telegram of their project. https://t.me/paybear
Actually, I have already embedded it on the OP, I think you have missed that one out. But if your looking further assistance it would really be good if you'll just contact the admin directly through the support ticket of paybear's website.

[LiberateDPigeon]

Could you provide more info about their official Telegram group so I can look it up?

Here's the official telegram of their project. https://t.me/paybear
Actually, I have already embedded it on the OP, I think you have missed that one out. But if your looking further assistance it would really be good if you'll just contact the admin directly through the support ticket of paybear's website.

Thanks mate. I might have missed it as well as I jumped str8 to the discussion lol. Will also take a look around since I haven't heard much about PayBear yet.

[adecryptokoin]

Its a nice concept. Looking forward to using it.

[Toucanoe]

Its a nice concept. Looking forward to using it.

Yeah nice concept. I wonder when will their ICO starts. If they can pull off a much lower fees than its competitor I think they'll become successful. I do hope this kind of projects will sprout this year and not just fancy shitcoins hoping to beat another or whatsoever.

[Rodge182]

Is there any new events with MakerDao and paybear? What happened to MakerDao they seem to be quiet about this.

[hopingman05]

Hello

I have a question about paybear, how is your product different from other competitors that are already in the market like bitpay, coinpayment and shifty button? And one more thing, will you be able to add more feature to your product something like google chrome extension, etc.? Thanks

I think the difference would be its lower transaction fees than to its competitors, as stated on their FAQ. "In the future when we begin charging fees we will give all users at least 30 days notice. Our fees will be in-line with our vision to provide a cost effective solution for Merchants."

Sadly, paybear's focus right now is bringing closer eCommerce and Crypto-enthusiasts the API is meant for online store, the team said the main purpose of Paybear is a system for merchants to accept payment. But it would be good if you'll ask directly their team to be able to help you with your concern.

It would be more enticing to use this service if they have such features just like shifty button or metatask. About the first question, until now paybear still haven't changed their fees its almost 6 months after their entry. The problem is the fee lesser than its competitors is just a promise. 

[FLoving]

That is really a very best project for to give a good place to crypto currencies. It will solve the issue of merchants to adopt bitcoin and other cryptocurrencies for their businesses. These businesses will also help in promoting these cryptocurrencies as the demand of these coins will increase and the community will also work further for that field.

[Rodge182]

That is really a very best project for to give a good place to crypto currencies. It will solve the issue of merchants to adopt bitcoin and other cryptocurrencies for their businesses. These businesses will also help in promoting these cryptocurrencies as the demand of these coins will increase and the community will also work further for that field.

LOL. Are you just shitposting here? This isn't the first time you'll see this kind of services. Yes, it'll solve the mass adoption in bitcoin for merchants. Anyway, this type of this services must be supported to be give cryptocurrency another boost.

[DrakeDG]

I'll be releasing the official ANN post of their project once the ICO starts. Right now, Paybear's team is focusing on getting more merchants to use their API.

[HorribleGuy01]

I think no one seems interested about this project, I haven't seen much of a support from Bitcointalk community, @DrakeDG you should start releasing the ANN post as early as possible to reach more potential customers.

[DiscretePatriot]

I'll be releasing the official ANN post of their project once the ICO starts. Right now, Paybear's team is focusing on getting more merchants to use their API.

I believe they should also catch the interest of users in Bitcointalk if they are truly planning to launch an ICO. Right now, we're not getting much interaction from their staff.

[NowYouAreSee]

Very nice design. Pleases coins for exchange. Time will tell if this service is really good!

[Toucanoe]

Very nice design. Pleases coins for exchange. Time will tell if this service is really good!

I have looked into paybear's website and yeah it looks neat and clean. Though, you'll have to wait a bit longer for that to happen because their ICO will be happening on the last quarter of 2018.

[DrakeDG]

I have looked into paybear's website and yeah it looks neat and clean. Though, you'll have to wait a bit longer for that to happen because their ICO will be happening on the last quarter of 2018.

Yeah your correct. Devs are focusing on its API right now because it is their main product, and some users on their telegram groups are finding minor bug problems. So devs are a bit busy right now fixing these things. However, the no. of support paybear getting is increasing day by day.

[DrakeDG]

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Contact them directly on their telegram or website, no active team members are here to cater your proposal.

I saw merchants themselves tweeting about PayBear, so they must trust them by that much. With upcoming support for Magento and Shopify, it will definitely allow them to reach more merchants (or allow more merchants to reach them?).

Shopify is very strict on API's specially that they have their own api for cryptocurrency, if paybear can pull that off (Magento and Shopify support) then they'll be successful.

[DigitalFox]

There are few similar projects functioning as gates between crypto and fiat payments for various online stores. I'm sure this service is needed and the adoption of crypto payments will grow.

[GothicTauren48]

There are few similar projects functioning as gates between crypto and fiat payments for various online stores. I'm sure this service is needed and the adoption of crypto payments will grow.

Yeah, to name a few of them we got Bitpay, ShiftyButton, and Coinbase. Paybear is not the 1st one to offer this kind of service, although it is good to hear this kind of services are being implemented, they are still new in this kind of business.

[gordonsam32]

There are few similar projects functioning as gates between crypto and fiat payments for various online stores. I'm sure this service is needed and the adoption of crypto payments will grow.

Yeah, to name a few of them we got Bitpay, ShiftyButton, and Coinbase. Paybear is not the 1st one to offer this kind of service, although it is good to hear this kind of services are being implemented, they are still new in this kind of business.

Speaking of Paybear, can it already be used in actual production environments or live businesses? What I mean is, it might have to run more tests to make sure that it's secure and has minimal to ideally zero bugs.

[Icey47]

There are few similar projects functioning as gates between crypto and fiat payments for various online stores. I'm sure this service is needed and the adoption of crypto payments will grow.

Yeah, to name a few of them we got Bitpay, ShiftyButton, and Coinbase. Paybear is not the 1st one to offer this kind of service, although it is good to hear this kind of services are being implemented, they are still new in this kind of business.

Speaking of Paybear, can it already be used in actual production environments or live businesses? What I mean is, it might have to run more tests to make sure that it's secure and has minimal to ideally zero bugs.

I think their system is currently in Beta, which means that they are probably still testing stuff. I did read that it is ready for production use and that they don't expect any major problems or downtime.

[Leopardon29]

There are few similar projects functioning as gates between crypto and fiat payments for various online stores. I'm sure this service is needed and the adoption of crypto payments will grow.

Yeah, to name a few of them we got Bitpay, ShiftyButton, and Coinbase. Paybear is not the 1st one to offer this kind of service, although it is good to hear this kind of services are being implemented, they are still new in this kind of business.

Speaking of Paybear, can it already be used in actual production environments or live businesses? What I mean is, it might have to run more tests to make sure that it's secure and has minimal to ideally zero bugs.

I think their system is currently in Beta, which means that they are probably still testing stuff. I did read that it is ready for production use and that they don't expect any major problems or downtime.

With Paybear just in its preliminary stage, it's understandable that it's not yet as stable and does not support as many coins like CoinPayments. With that said, are there any special feature or benefit that Paybear offers that sets it apart from other payment gateways?

[woodkid]

I'm looking for a crypto payment gateway that will allow me to accept 1 USD payments. Right now PayBear doesn't allow that (minimum is 0.0005 BTC, which equals to 3,2 USD).

Does anyone know if that's going to change any time soon? Perhaps some alternative solution, which has a straightforward API or integration library for PHP? Also, low fees, around 1%.