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Author Topic: Another Person 2 Person Payments (e.g., PayPal, Dwolla) network: PopMoney  (Read 6961 times)
Stephen Gornick
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May 01, 2012, 07:47:38 PM
 #21

Incidentally, Bitinstant is saying they will be introducing the ability to do ACH transfers directly:

 - http://bitcointalk.org/index.php?topic=78795.msg877243#msg877243

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EuSouBitcoin
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May 01, 2012, 08:28:27 PM
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But it does not work as an account, like PayPal or Dwolla.  The funds only go to the recipient's bank, not to an account with Popmoney,
[/quote]

Thanks for clarifying that. I misunderstood that aspect of PopMoney. From their FAQ

"Do payments sent to me expire?
Yes. You have 10 days from the date you receive the payment notification to provide your bank account information. After 10 days, if you have not provided your bank account information, the payment expires and the funds are returned to the sender."
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May 01, 2012, 08:35:57 PM
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"Do payments sent to me expire?
Yes. You have 10 days from the date you receive the payment notification to provide your bank account information. After 10 days, if you have not provided your bank account information, the payment expires and the funds are returned to the sender."

Yup, that part occurs instantly.  Once the recipient confirms the receipt, then PopMoney does the ACH push (which takes about 3 days).

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May 01, 2012, 10:00:01 PM
 #24



"hey dude got some bitcoins ? gimme a pop at a time so we keep in the black"

/troll

Great to hear competition is on the way  Smiley

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May 05, 2012, 07:00:57 AM
 #25

an interesting concept, but not much use for it i guess for now.

the question you need to ask yourself is: where is it accepted?

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Stephen Gornick
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May 05, 2012, 07:14:12 AM
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the question you need to ask yourself is: where is it accepted?

Where is what accepted?  If you are referring to PopMoney, it is P2P -- anyone can receive PopMoney and it ends up escrowed by PopMoney until the recipient claims it which then withdraws it to the recipient's bank account.  The problem isn't receiving the problem is sending, as so few banks offer it.  Oh, and the other problem is that it is ACH and thus reversible when fraud is declared.

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