Pay any Thai QR with Bitcoin

... says @PlebQR bio

I check it out and the website: it provides minimal info, enough to understand how PlebQR provides two options: one to pay any Thailandese merchant that has a QR PromptPay code, and two, enable anyone with the app and a thai-bank-account-mobile-app to earn some sats!

I find it fascinating, thai people need these, and I can see people adopting really fast! Let's dive into the details:

In the PAY side

Video	Step-by-step
	`1)` Scan a PromptPay QR at a Thai merchant. `2)` Enter the amount you wish to pay in THB. `3)` Pay the generated lightning invoice. `4)` An order to pay the Thai merchant will be broadcasted. `5)` Wait for a local to accept and pay the order with THB, then upload the receipt of payment. `6)` Confirm the receipt is valid. `7)` BTC payment will be made to the local's lightning address.

This is an experimental service. Issues may occasionally occur. Please allow for 10 minutes for your payment to be completed or cancelled.

In the EARN side

Video	Step-by-step
	`1)` A customer who wishes to pay a merchant will claim an order and pay in BTC. `2)` Screenshot the QR code. `3)` Open your banking app. `4)` Choose scan option. `5)` Select photo from your screenshot. `6)` Enter the amount from the order. `7)` Pay. `8)` Come back to PlebQR to upload the receipt. `9)` Wait for order to be completed. `10)` BTC payment will be sent to your lightning address.

This is an experimental service. Issues may occasionally occur. Please ensure you have access to your bank account and enough money to pay any order you accept. Make sure you make the payment of the correct amount and upload the receipt within 3 minutes. Only a smartphone may be used. Please do not use a computer or laptop as the payment receipt will be incorrect.

This is a great tool to pay anything with sats, peer to peer, from groceries to bills. However, I'd like to learn more about how this bridge works between SATS and THB.

Here is the link again https://plebqr.com

0 sats \ 1 reply \ @emmanuelrosa 3 Jan

Interesting.

I do see a couple of obstacles:

Thailand merchants deal largely in cash, so PrompPay despite being awesome has limited use.
Unless there are a substantial number of locals available to provide the liquidity, transactions would be too slow for practical use.

What the developers could do to bootstrap the liquidity is focus on slower payments first. For example, paying the rent for a condo or the monthly ISP payment.

0 sats \ 0 replies \ @PlebQR 3h

Hello, I appreciate your insights.

PromptPay is widely used in Thailand, with nearly all merchants accepting it. The project is structured as a competition, where the first local to accept and process an order will earn a significant commission. As a result, the required number of locals is relatively small. However, it’s essential to maintain a good balance between payers and exchangers.

There are some drawbacks. The payment processing time can be slow, even if the order is accepted right away. The optimal payment time is around 20 seconds, but it still works well in many scenarios, such as paying at a restaurant or online shopping and small bill payments.

Currently, we also impose a limit on transaction sizes, capping them at 500 THB. This measure is in place to encourage local acceptance of orders, which means that paying rent is not feasible at this time.

0 sats \ 2 replies \ @nym 3 Jan

Seems to be down at the moment.

0 sats \ 1 reply \ @catoshi OP 3 Jan

just the notification system

Hello, we have now moved the notification system from LINE to Simplex for greater privacy and security.