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50 sats \ 3 replies \ @earnbitcoin 13 May 2022 \ on: My workplace is looking for a payment processing and escrow account banking platform bitcoin
Really had a hard time trying to decipher what it is you are asking.
First things first, ... for which jurisdiction(s) are you inquiring? (e.g, all payments in/out will be U.S. domestic only, or global in/global out ... or some other variation)
Is the incoming payments for retail / customer payments, or is this for more like B2B?
Are the incoming payments in fiat, or bitcoin/crypto (or both)? If bitcoin, then on-chain, or LN (or both)? For fiat, is this bank payments (e.g., ACH) or debit/credit card (or both)?
Are the outgoing payments in fiat, or bitcoin/crypto (or both)? If bitcoin, then on-chain, or LN (or both)? For fiat, is this bank payments (e.g., ACH) or debit/credit card (or both)?
The trust account you describe ... is that for fiat (bank), or for bitcoin/crypto?
I'm not aware of a merchant payments (incoming) platform that also does outgoing bill pay / vendor payments.
For merchant payments, you might look at (or talk to) https://Blockonomics.co, which has an API. Or work with a custodial merchant payments, like https://CoinPayments.net
For bill pay, "mass pay" is common, among both fiat and bitcoin/crypto custodial services, and non-custodial even. There's also a firm called Coinsfer.com, which lets you pay bills in fiat using bitcoin -- not sure if that might be something that matches your use case. I don't know anything about them so DYOR.
Really had a hard time trying to decipher what it is you are asking.
thanks, that's good/fair feedback. thanks for the detailed suggestions.
i've learned a bit more about the specifics after speaking with some others in the business (i'm a lowly engineer, building the features that are required now, wasnt' here for the early startup days)
the business negotiates USD denominated debt settlement for individual clients (b2c) that want to avoid bankruptcy. inbound and outbound payments are in fiat,
via ACH. the trust accounts we use are FDIC insured, but i'm not certain if that's a legal requirement, or a coincidence. the trust stores the payments until a negotiated lump-sum payoff with a debt-holder (b2b) can be reached.
being willfully vague here because "The Man", but if you're super curious let me know how we can initiate a DM.
our current platform has a heinous, poorly documented API... seems like the sort of thing ripe for disruption.
i'll investigate the tools you mentioned. i think a combination of tools might suffice. in terms of alternate solutions to our current workflow... it's certainly non-trivial.
thanks again
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Are you familiar with Prime Trust?
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Are you familiar with Prime Trust?
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