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February 07, 2014, 01:12:59 AM |
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Has anyone here thought of a way to somehow set up an app that has a bitcoin payment system without the person using the app even knowing that they're paying for something with a bitcoin? I'm interested in financing an app that does this - I just haven't found an easy way to explain what I want to developers. Here's the process I'm thinking below.
1 - User downloads the app for free. User enters bank checking and routing number. 2 - User purchases a service through the app. The good or service is provided by a company that is also using the app. 3 - User pays $50.00 for the good or service, $50.00 is used to purchase a bitcoin. 4 - Bitcoin is transferred to the company using the app. However, they only see it show up as $50.00 5 - Company can cash out whenever, (but is somehow encouraged to cash out soon to avoid volatility in btc price). When they "cash out" they're actually selling the bitcoin for $50.00
Both the customer AND the company that use the app never see or realize that they just conducted a bitcoin transaction. No visa or mastercard fee. I don't think you'd even need a money transmitter license because you wouldn't be transmitting money, you'd be transmitting a bitcoin.
Does anyone think this makes sense? I'm racking my brain on how to make an app where I can get some one to buy something and from some one selling something, but with NO visa/mastercard fee.
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