achguy

5 ms·

1. 1.▲
   by achguy 12y ago

   As I alluded in my other reply we guarantee real-time authorization, not real-time settlement. Settlement can happen in batch mode using networks likes Check21 or ACH. No NSF != Guaranteed funds Any payor has the right to dispute a charge.
2. 2.▲
   by achguy 12y ago

   No worries. dwolla.com I believe uses and existing relationship with a credit union/bank and hence restricts real-time transfers to account holders of that/those bank(s) - which is a small percentage. Additionally it requires sig
3. 3.▲
   by achguy 12y ago

   Indeed. "ballpark" numbers: Total transactions volume VISA/MC CC in 2013: Appx $7-8Trillion Total transaction volume using paper Checks and ACH in 2013: Appx $70Trillion i.e. 10X
4. 4.▲
   by achguy 12y ago

   The issue here is ubiquity. What percentage of the world's population has heard of Bitcoin (< 1%) and what percentage of merchants offer Bitcoin as an option (also < 1%). Checks are something that anybody from college kid to seni
5. 5.▲
   by achguy 12y ago

   A typical payment/financial transaction has two parts, authorization and settlement. In a wire transfer authorization and settlement happen in real-time (they are known as RTGS = real-time gross settlement) i.e. the money is transferr
6. 6.▲
   Ask HN: Who wants to accept Check online?

   11 points by achguy 12y ago|11 comments