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Author Topic: Payment service provider to help us sell bitcoins  (Read 2716 times)
swinewine
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February 22, 2011, 01:51:35 PM
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Hi Guys,

My name is Brian and I am one of the founders of YouTipIt. We are looking for a European based alternative payment service provider that will let us sell bitcoins to our members. Currently we use paypal but we really would like to find someone else who we can take payments through. Recently we have been refused by EMS Card as they dont want anything to do with bitcoin.

Has anyone out there any suggestions on a PSP that might be willing to allows us to sell bitcoins? We are aware of the high risk of chargebacks but we are trying to implement a system that mitigates the chances of these happening.

Any ideas would be appreciated,

Brian

Tip me at http://utip.it/t/J1834 youtipit.org
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gusti
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February 22, 2011, 02:14:39 PM
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May I suggest you use Western Union ?
No risk of chargebacks.

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SmokeTooMuch
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February 22, 2011, 04:09:48 PM
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Unfortunately, our community is also still looking for such a service.

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AyKarsi
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February 24, 2011, 12:00:03 PM
 #4

Has anybody used Global Digital Pay?(as a buyer or seller)

https://www.globaldigitalpay.com

Great benefit is the fact that as merchant you cannot be charged-back.
For the buyer it seems to a bit of jungle finding the right exchange partner to get funds on your account..

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AyKarsi
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February 24, 2011, 12:04:50 PM
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Quote
May I suggest you use Western Union ?
No risk of chargebacks.

Chargeback part is nice. But their fees are attrocious. Especially when do international payments.
We need to be able to accept amounts between 5 - 50 USD/EUR/GBP
And they don't seem to have an API to automate the payment process

Founder - YouTipIt http://youtipit.org
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February 25, 2011, 01:18:34 AM
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Quote
May I suggest you use Western Union ?
No risk of chargebacks.

Chargeback part is nice. But their fees are attrocious. Especially when do international payments.
We need to be able to accept amounts between 5 - 50 USD/EUR/GBP
And they don't seem to have an API to automate the payment process

What's wrong with Paypal (I know it's a silly question Smiley). Are you afraid of chargebacks or is there some other issue as well?

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markm
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February 25, 2011, 04:51:20 AM
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Years ago PayPal's terms of service pretty much ruled out currency exchanging.

Private individuals would tick off some other option than "this is me selling currency" or "this is a currency exchange", instead claiming it is a personal debt owed or the sale of a service. Because to say it was a currency exchange or sale of currency would in those days have been against PayPal's terms.

I am not aware of that part of their terms having changed since then. Has it?

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February 25, 2011, 04:53:46 AM
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I have no idea. But 99% of my PayPal usage is through API rather than by sending through the website, so I never see anything about "this is a currency exchange".

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AyKarsi
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February 25, 2011, 06:20:29 AM
 #9

Quote
May I suggest you use Western Union ?
No risk of chargebacks.

Chargeback part is nice. But their fees are attrocious. Especially when do international payments.
We need to be able to accept amounts between 5 - 50 USD/EUR/GBP
And they don't seem to have an API to automate the payment process

What's wrong with Paypal (I know it's a silly question Smiley). Are you afraid of chargebacks or is there some other issue as well?

PayPal ist working great from a technical perspective. But we fear that for some very strange reason, they might put our account on hold..
We want to offer at least a second payment option. So it's a bit of risk mitigation thing.
The other part is the 45day rule we had to implement because of the chargeback risk.


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AyKarsi
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February 25, 2011, 06:25:43 AM
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Years ago PayPal's terms of service pretty much ruled out currency exchanging.

Private individuals would tick off some other option than "this is me selling currency" or "this is a currency exchange", instead claiming it is a personal debt owed or the sale of a service. Because to say it was a currency exchange or sale of currency would in those days have been against PayPal's terms.

I am not aware of that part of their terms having changed since then. Has it?

-MarkM-


We actually had gotten past this stage with paypal already. They do allow currency exchange under the condition that you are implement a closed system: Meaning that you use PayPal as your sole PSP for all money entering and leaving your system. But they do not allow any circumvention of their chargeback policy in this scenario.
For us it was too much of a risk being dependenct on one single PSP. There are too many stories of frustrated merchants out their, who do not understand why their account was put on hold or even canceled.

Founder - YouTipIt http://youtipit.org
nanotube
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February 25, 2011, 07:53:23 AM
 #11

have you considered the following: dwolla, bank ach, check by mail?

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goldmongler
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February 27, 2011, 10:05:50 PM
 #12

Ukash + Paysafecards to Bitcoin. There's already exchangers like xmlgold that do Ukash to Liberty Reserve
I'm also in need of somebody in Europe who can do Ukash to Paysafecards and vice versa, or other voucher or direct irrevokable methods

Wouldn't touch Paypal with an eleventy billion foot pole. I can show you at least 7 forums right now full-time vending stolen paypal accounts by the thousands. It's also probably against their TOS to trade it for other digital currency, they'll just seize the account at any given opportunity.

Plus if you're selling bitcoin to say, a gambler and they lose they'll want their money back and will simply phone up Paypal and claim their kid authorized the transaction while they were out of the room. Presto instant chargeback up to 180days later

jav
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March 02, 2011, 02:12:52 PM
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In the last days I haven been looking into the option of using a mobile payment processor like Zong, where people could pay with their mobile phone. It seemed like a good fit, because mobile phones are actually used a lot to buy various forms of (centralized) virtual currencies - like Facebook Credit for example.

I was in touch with somebody from Zong, but it didn't go anywhere. He immediately said it would be a problem that you can exchange Bitcoins back for USD and that the carriers would not like that. Apparently it needs to be a closed system where you can only pour money in and then have to spend it on things.

Maybe I'll go and talk to some other payment processors in the mobile space, but I guess I won't have much luck there either.

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Prze_koles
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March 08, 2011, 11:54:09 PM
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What about Moneybookers?

AyKarsi
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March 09, 2011, 11:01:35 AM
 #15

What about Moneybookers?

Moneybookers won't allow any kind of exhange system..

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AyKarsi
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March 09, 2011, 11:04:11 AM
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In the last days I haven been looking into the option of using a mobile payment processor like Zong, where people could pay with their mobile phone. It seemed like a good fit, because mobile phones are actually used a lot to buy various forms of (centralized) virtual currencies - like Facebook Credit for example.

Zongs transaction costs were very high the last time I looked. Something like 25% on a 10$ purchase. Thats just daylight robbery..

Founder - YouTipIt http://youtipit.org
Binford 6100
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March 09, 2011, 12:37:57 PM
 #17

https://www.bitcoin.org/smf/index.php?topic=2732.0

have seen this forum? ^^
even on second reading it looked like a simple card processing service to accept payments

no idea how to service wires and cash

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