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  • intelliot 3:09 pm on October 27, 2013 Permalink | Reply
    Tags: , consumer, payment, payments, , protocol, refunds   

    How do receipts work?

    When a payment request is signed it’s not just the addresses. The memo is also signed. By keeping around the signed payment request, and the transactions you created to satisfy it, you obtain a mathematical proof of payment. The merchant cannot dispute what was paid for because the memo field contains a description, nor can they dispute that payment was delivered (unless they claim they lost control of their private keys, of course).

    This is great because it fills in a missing piece for low-trust third party dispute mediation using multi-sig transactions. Currently if you tried to implement that, you’d run into the problem of a buyer saying “seller did not deliver!!” and the seller saying “the buyer never paid me!” or more problematically, buyer saying “seller gave me something different to what I asked for” and the seller saying “I gave him exactly what we agreed on”.

    With receipts, it suddenly becomes much easier to figure out what happened in a transaction and recompense the right party.

    https://en.bitcoin.it/wiki/Contracts#Example_2:_Escrow_and_dispute_mediation

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  • intelliot 9:28 am on January 4, 2013 Permalink | Reply
    Tags: bank wires, Net 45, payments, PayPal, RevMob   

    How RevMob does payments 

    Payment Details

    We pay on a Net 45 basis, that is, 45 days after the end of each calendar month. We send the payments automatically on a monthly basis. Example: June revenue will be paid on August, 15th, July revenue will be paid on September, 15th and so on.

    The minimum amount for bank wires is now $250 and a $25 fee will be applied by RevMob for any bank wire. You may be charged other fees on top of that depending on your bank. If you want, you can choose to receive your money only when a certain amount (higher than $250) is reached, therefore paying less fees. In order to do that, email us at contact@revmob.com.

    For Paypal transfers, RevMob won’t collect any fees, and you’ll only have to pay the standard Paypal fees. The minimum is $50. If you want a higher minimum, email us at contact@revmob.com.

    The new minimum amount and fee for wire transfers have been displayed since November, 14th, 2012 and both will go into effect on December, 15th, 2012.

     
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