Collecting and investigating information about new payment methods

The task to check if a payment method is suited for Bitsquare is difficult as with the global nature of Bitsquare we rely on people in different countries to provide us the required information.
Furthermore we cannot test each method as we cannot open accounts in foreign countries easily.

To collect those data and get reliable information we ask anyone who has experience or who wants to see a certain payment method to get added to Bitsquare to provide us with qualtitaive information.
Here are 2 documents where we summarized the availabel infos.

The files are read only as we got spammed, but feel free to post here information so we can add it to the docs.


I added Faster Payments to the payment methods spreadsheet.

A request came up at this reddit topic.
The payment method seems to be popular in the UK.
This should be suitable for bitsquare as money transfers are instant. Chargeback risk needs to be investigated. faster payments claim you can’t charge back but it has happened. From a quick look it seems to be comparable to SEPA.

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Hi, I would like to see payment methods for South Africa added.

Cash Deposit @ atm - most banks have direct note deposit
ElectronicFund Transfer SA bank to SA bank

What info could I supply you to assist with this.?

Hi SaBit,

please take a look at the documents ManfredKarrer linked to in the first post.

Pretty much all the information is needed to decide if the payment method fits bitsquare standards.

For implementation especially the mandatory fields are important. That means all information that is necessary to send and receive money.

You can provide the info here in this thread.

Currently, it is enabled only in Italy.

There is a limit of 500 eur / day.
It isn’t possible to send less that 1 eur.
It is possible to sent cents, example: 5.02 eur.
It is possible to write a reason as the common SEPA transfer.
It seems that it isn’t possible to chargeback.
The user need to install an app on his phone, the account will be connected with his phone number.
The service needs to be supported by the bank, so the user need to have a bank account. It is like a faster SEPA.

Interesting, we have something just like jiffy in portugal. It’s called MBway.
differences: maximum transfer limit of 750€
monthly transfer limit of 2500€
20 transfers per month

As most dutch are used to using Ideal as their payment processor, it would be a big deal for me and a lot of fellow countrymen, if that could be implemented.

Do you know if it is easy to chargeback?

I have no experience with chargebacks, but I guess it will be easy as it’s the payment system no.1 in the Netherlands.

It’s difficult to decide which payment methods to accept. I had a quick look at the iDeal faq. It states the same as the faqs of other payment methods (Faster Payments, Jiffy, SEPA) . All claim ‘chargebacks not possible’.

In reality, experience shows that chargebacks are in fact possible. In the end it’s not up to the payment processors but to the participating banks. You need strong reasons to make both banks belive that a fraud has happened and you might be able to have paid money charged back.

Bitsquare has security measures in place that reduce incentives for these kind of attacks, like trade limits. Bank accounts are a scarce ressource and can’t be exploited for these attacks at will.

It should be discussed if these similar payment processors should be included in bitsquare or not.

It is also necessary that there is a statement, e. g. from the sending bank, showing that a transaction has occured. This is for the case of a dispute where the sender might be required to prove that he/she sent the fiat. As an example, MobilePay which is popular in Finland and Denmark, does not give a clear bankstatement and does in fact use Visa.

Concrning chargebacks. At least in Sweden it is extremely difficult to get a chargebank using banks. One must first get a court to agree to fraud. This is between private individuals. Different rules (depending on contracts) exist for merchants.

chargeback policies differ from country to country, we need to go the conservative route and assume the simpler case of all countries. As far as I know, in no country can you simply request a chargeback without the bank’s consent, so that should be the standard IMHO.

How can you pay each other directly through iDeal though? Thought you can only pay merchants with it?

I have no experience with iDeal. If you provide sufficient info we can add it. Requirement is that it is hard to chargeback and low fees.

It is a consumer/merchant payments channel only. Although chargebacks will not occur, the receiver needs a merchant’s key to accept iDeal payments. They are not available for free nor to anyone.

In The Netherlands it is used for quick payments to web shops or other organisations.

Is there any follow up? Payeer seems to be a good option to list in the payments options.

Payeer is just another credit card merchant. It’s advisable not to graft that expensive rubbish onto Bitcoin at any juncture. Also they’re not really up front about their chargeback policy so unless we know it’s disallowed we can not add them.

Sorry if I’m doing something wrong, I am new here.

I saw that in bitsquare were two posts combined with the “Fidor Bank”, but without going into the payment possibilities.
On is a “Express-trade” option when both traders have a Fidor account to send money in real time. This is working with a “Social Payment” called “send friends money”
Here the links with more information:

It would be great to add this payment method to Bitsquare.


Move from Github issue:
Author: nycnikato

Please add American Express Bluebird payment support

There are no chargebacks and no reversals when money is sent, Money can be held by mediator if necessary and sent back to the affected party. There is an auditable paper trail. American Express can already be used to buy bitcon directly using Abra but this solution may be usable for those who don’t want American Express knowing about Bitcoin purchases directly or those who want to have a prepaid option that is better and faster than a bank. This would take minimal effort to implement. money could be sent to an address controlled by mediator with a reference number attached.