Your own NuBits payment processor?

NuBits Merchants
#1

For those who are watching ‘The Daily Decrypt’ it probably sounds familiar. An open source payment processor which doesn’t hold your funds, so no personal information required, no approvals or KYC/AML. Sounds good.

I dived a bit deeper and found out that the underlying software to process payments is opensource and free to use and wondered if this can be used for NuBits. Unfortunately it is based on Bitcoin, so any dev with a bit of spare time and willing to update it to NuBits is more than welcome :wink:

I think it would be an awesome offering from NuNet to offer this kind of software to merchants interested in accepting NuBits without all the cost and overheads of payment processors. Even just as a repository. An even better option would be to host this server as a service and sell it as a service integration with e.g. NuDroid like Mycelium does. Anyone up for it?

Here is the main repository including the instructions on how to set it up: https://github.com/MyceliumGear/straight-server.

Mycelium Gear integration as showed on Daily Decrypt went that step further and built an integration layer on top of ‘Straight’. In case you are interested in more details about this currently Bitcoin-only product: https://gear.mycelium.com/

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#2

This is exactly the idea of “Method 3” in Enable easy selling/buying Nubits with e-currency USD:

The third and perhaps the best way to expand Nubits buy/sell/conversion is to make the transaction points decentralized to the extreme, i.e.provide code that one can use to setup conversion between e-currency USD and Nubits anywhere.

After the motion for the first two steps passed there hasn’t been significant result from contacting existing payment processors.
An open source nubits payment processor should be much easier to make and run than a btc one.

#3

I think you lost me, I don’t understand why it would be easier. It appears to me that you are talking more about an exchange with integrated payment processor, not just a payment processor in it’s purest form.

#4

Because with nubits the backend can be easily interfaced with PerfectMoney, OKpay, and lots of others to leverage their existing facilities, tools, services.

Yes using the solution as a payment processor is just one of the possible application in my mind.

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