I am currently working on a side project of my own in this area.
My merchant software will work like this:
My rough idea, to help prevent fraud with regards to online shopping.
Customer visits the sellers website, and makes a selection.
The customer selects the Pay with peercoin option.
The payment application will calculate the amount of peercoin owed(determined by a set PPC value or a conversion value).
The customer sends the PPC, and a Promise to Pay is Issued to the merchant.
Merchant Option 1: Tangible goods
Merchant receives the Promise to pay.
They ship the package, and enter the tracking information into the system from a credible seller.
The service verifies the information, and then releases the shipping funds to the merchant.
Customer receives the package (The application will verify with the shipping service).
customer is offered a 24 hour challenge of goods(or longer depending on merchant return policy).
After 24 hours, if the customer is satisfied with the goods they received. The full funds are passed to the seller.
The customer challenges the Transaction, and enters the complaint.
The merchant is notified of the Challenge, and receives the complaint.
customer, and seller reach an agreement(Both parties agree on a vote).
Full funds are passed to the Seller.
A promise to ship is issued to the merchant.
customer enters the tracking information from a creditable shipper.
merchant receives the package.
The software Verifies that all Promise to Ship orders have been completed.
fund's are passed back to the customer.
Merchant Option 2: Non-Tangible Goods or services
Service receives the PPC from the Customer, and Issues a Promise to pay to the merchant
The customer is offered a 7 day challenge period.
After 7 day's pass with no complaint.
The merchant is passed the funds.
The Customer challenges the transaction, and enters a complaint.
Merchant is notified of the challenge, and receives the complaint.
Merchant and Customer reach and agreement(Both Parties agree on a vote).
The funds are passed to the Merchant or back to the customer.
If a promise to ship is not fulfilled by any party, within 15 days funds are passed to the merchant or back to the customer.
All transactions that enter into a challenge, and can not reach an agreement after 15 days will be sent to support. This will help to ensure that a fair decision is reached by both parties.
My main goal is maximum honesty, and integrity by sellers, and safety for customers.
I welcome all thoughts on this application.
I plan to make this application available free of charge, with future development funded by donations.
If you would like to donate to this Project: PPC | PWUZr3zBDyN2oZXmEtgTm1hurgg4jL33qf |