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While we're talking about currency, why hasn't anybody in the US(to my knowledge) made a payment processor that works by generating transaction numbers, and the
by blintson 16y ago
While we're talking about currency, why hasn't anybody in the US(to my knowledge) made a payment processor that works by generating transaction numbers, and then sending those numbers instead of sending people payment authentication credentials?
Let's say George wants to give Sally $5.
1. George logs into his PayCo. account. He clicks generate transaction, amount $5. The server returns a very long randomly generated key.
2. He copy-pastes that key into Sally's pay-info server.
3. Sally sends that key to PayCo.'s server, money changes hands, and the key is no longer valid.
- forensic 16y agosounds like alertpay but better
- mseebach 16y agoI've thought about a similar idea, except in mine, you send a "locked" payment via email to the recipient, and give him a pin-code to unlock the payment. This allows for exchange of money in person (say, you're buying a used car from someone, and want to see and drive it before handing over the money, and don't want to carry the cash - neither party trusts each other to wire the money ahead of time or after). The recipient can easily verify and claim the transfer using phone, SMS or online.
- tomjen3 16y agoThat is actually very close to how paypal worked in its original form. Google for Money Beamer.