Satispay

[Vigme86]

Payment methods are evaluated very carefully before being added to Bisq. Poorly integrating a payment method, or integrating a payment method that's not a good fit for Bisq's trading protocol, can be costly mistakes for Bisq's users and dispute resolution mechanisms.

As a result, we request that you add responses to the following questions so that we can better consider your suggestion.

Please answer to the best of your ability. The more thorough you can be, the more you'll help us out, and the quicker your suggestion can be evaluated and implemented.

Why

Why would Bisq benefit from adding this payment method? Is is popular in a particular region? More convenient? More safe?

Because it's pretty popular in italian cities, in particular Milan and Rome, and It appears they have a business they will go in the next years to other countries in Europe, in particular Germany from 2021. I personally use it quite frequently to pay in shops or between friends which accept it You install an app on your mobile phone, do KYC, then link your bank account, in 3-4 days they accept your registration, after that you can set a weekly budget between 25 € and 500 € directly linked with your bank account, and then every Monday they charge your Satispay account with a SEPA direct debt transaction with your bank.

Region

Who can use this payment method? Every one who owns a bank accout linked with Satispay App on his mobile phone. When I activated it a couple of years you needed to link it with an Italian bank account (IT xxxx), I don't know if they're going to remove this restriction now that they are going in other EU Countries.

Chargeback risk

How easy is it to cancel a payment once it's made? This is the most important characteristic of a payment method. Once the receiver has accepted the payment, there's no possibility as far as I know

Data requirements

What information must a user provide to a counterparty to accept a payment? You can pay another person from your address book, hence you need to share your name and your phone number.

Verification

How can payments be verified? Examples: TLSNotary is typically used for electronic payments, and receipt scans are typically used for money orders. Every transaction inside the application produces a receipt that you can share via social or your address phone book.

Duration

How long do payments take? Please provide a range, as the advertised best-case scenario rarely accounts for edge cases. Payments are made within seconds, they end when the receiver confirms the payment.

Fees

Does it cost anything to make a transfer using this payment method? If so, how much? There are no transaction fees between people, shops usually have a fees around 0,5% for orders above 10 €.

Fraud risk

How easy or difficult is fraud with this payment method? I don't know how to fraud this payment method.

[m52go]

@pazza83 I just assigned you to this issue.

[pazza83]

Hi @Vigme86 thanks for completing the new payment method issue. Much appreciated.

Looks like a great little app with about 1.3 million users ref

I had a look on the website but could not find answers to the following:

Is there a maximum amount you can send via the app?

When sending money to a friend can you include a note (for Trade ID)?

[Vigme86]

HI @pazza83,

1) I think maximum amount you can send in a single transaction is the weekly budget, which you can set between 25 and 500 €, but to be honest I never tried the max amount. I personally did a transaction of 100 € with a friend and everything went fine.

Budget is regulated every Monday, i.e. Satispay App makes a Sepa Direct Debt with your bank if balance is 5 € above or below your weekly budget. E.g. if you set weekly budget at 250 € and at Monday you have 247,50 € of balance, they don't do anything. Quite the opposite if your Monday balance is 300 € (or 200 €) they make a Sepa Direct Debt of 50 € to your Bank Account (or they take 50 € from your bank account).

2) Yes you can add a small description (max 200 characters) on the transaction

If you're Italian there's also a Telegram unofficial chat with 300+ members for further questions. t.me/satispayunofficial

[pazza83]

Satispay has been scored for inclusion to Bisq:

Essential	Desirable	Definite No’s
Very low risk of chargeback	No risk of chargeback	< very low risk of chargeback
Way to verify the sender in the received payment	Way to verify the sender in the received payment and ability to enter a reference	No way to verify the sender in the received payment
Trade time less than one week	Instant payment	Trade time more than one week
Singular Fiat currency	Multi-currency	Not a payment method for fiat currency
Significant user base	Large user base	No significant user base
High usability	High usability and great user experience	**< high amount usability~~
No KYC required for sending and receiving payments	No KYC required for sending and receiving payments, allows users to trade with upmost privacy. Minimal identifying information as possible (no names, email, phone etc required)	Some KYC required (proof of address, ID, selfie) for sending and receiving payments
Low risk of scam attempts	Very low risk of scam attempts	< low risk of scam attempts
Traders can provide evidence of payment / receipt	Traders can provide evidence of payment / receipt and Verification of payment can be made using PageSigner or similar	Traders will be unable to provide evidence of payment / receipt
Minimum limit at least equal to at least account limits protocols	No minimum limits	Minimum limit not able to achieve account limits protocols
Maximum limits equal to at least 0.01 BTC	Large payment limits up to 2 BTC	Maximum limit is less than 0.01 BTC
Likely to increase liquidity	Likely to increase liquidity and open markets for different countries and currencies	Likely to decrease liquidity
Low risk of mediation	Very low risk of mediation	< low risk of mediation
Low risk for traders from government agencies	No risk for traders from government agencies	< low risk for traders from government agencies
Fees should not be a barrier to trading	No fees for transactions	Fees will be a barrier to trading
Only minor changes needed to trade protocol	No changes needed to trade protocol	> Minor changes needed to trade protocol

Score: 23/32 Percentage: 71.82%

[pazza83]

Satispay - Proposed National Currency Payment Method

I am proposing that Satispay to be added as a national currency payment method.

@refund-agent2, @huey735, @leo816 please let me know if you have any questions as to how Satispay will be mediated / arbitrated. If you have any objection please let me know by 31 May 2021.

---

Date proposal being made: 01.05.21 Date feedback to be provided by: 01.05.21

Name of payment method: Satispay

Required fields (eg)

• Account owner full name
• Phone number

Maximum trade duration: 24 hours

Signing required: No

Regions accepted: Italy

Currencies accepted: EUR

Bisq Limits: 0.25 BTC

Any relevant information for mediators / arbitrators: Verification might be via mobile screen recording if bank is app based.

Any relevant information for devs: No

Any relevant information for users: Account limits are individually set. If you want to trade increased amounts you will need to contact Satispay support to increase your limits: https://support.satispay.com/en/articles/increase-maximum-budget

Screenshot of expected GUI: TBC

[pazza83]

Here is the XD for Satispay, it should be straight forward to add:

[pazza83]

Information required for Bisq software strings:

Hi @jmacxx here is the information for the strings.

Let me know if you need anything else:

Special info about any of the inputs required for creating the payment account:

To use Satispay you need a bank account (IBAN) in Italy and to be registered for the service.

Satispay account limits are individually set. If you want to trade increased amounts you will need to contact Satispay support to increase your limits. Traders on Bisq should be aware of their limits. If you trade over the above limits your trade might be cancelled and there could be a penalty.

Special items to be aware about when sending payments (for BTC Buyers):

Please send payment only to the BTC Seller's mobile phone number as provided in Bisq.

Satispay account limits are individually set. If you want to trade increased amounts you will need to contact Satispay support to increase your limits. Traders on Bisq should be aware of their limits. If you trade over the above limits your trade might be cancelled and there could be a penalty.

Special items to be aware about when receiving payments (for BTC Sellers):

Please make sure your payment is received from the BTC Buyer's mobile phone number / name as provided in Bisq.

Satispay account limits are individually set. If you want to trade increased amounts you will need to contact Satispay support to increase your limits. Traders on Bisq should be aware of their limits. If you trade over the above limits your trade might be cancelled and there could be a penalty.

[pazza83]

Hi @jmacxx the implementation of Satispay is missing the "account owner full name field"

It is not a deal breaker but will mean the account owner full name will need to be shared in trader chat.

[pazza83]

Wiki completed: https://bisq.wiki/Satispay