Chained Payments with bitcoin like Paypal Adaptive Payments?

3

i have to develop an etsy-like store using bitcoins as currency trading;

As happen in the Etsy network, i have to hold back a fee for all the transactions made by all the sub-stores in the network;

 Chained Payments - ( buyer pay $100 to sub-store and sub-store give $10 to main-store )

              main-store
               $10 fee
buyer __          |           
$100    \         |       
         \__  sub-store-# 
                 $90

i want to know if it's possible using bitcoins to have something like Paypal Adaptive Payments Chained Payments (maybe through some third party services)

thanks in advance for any feedback.

Luca Filosofi

Posted 2013-05-31T16:13:15.657

Reputation: 131

Any updates on this? – sdfsdf – 2020-03-11T04:58:23.910

I thought about saying "if we were dealing in a currency that can be paypalled," but this seems more clear. It's ultimately your call. – Nick ODell – 2013-05-31T16:49:09.030

Answers

1

There's nothing out there that does this but it would not be a hard thing to create. It's a relatively simple process:

  • set up payment for xBTC with a specific address to which to send the payment
  • when the payment arrives create a new transaction that sends some of the coin to an address owned by you and some on to the store owner's address

All of the complexity will be in the business rules: what's the percentage split, how long 'til you pass the coin along (in the case of shipping physical items you need to worry about a purchaser claiming against you for non-delivery), what happens if items are sourced in USD or other currency and translation is required, etc.

jgm

Posted 2013-05-31T16:13:15.657

Reputation: 1 527

1Alternately, instead of sending the bitcoins along immediately, keep track of how much you owe the store owner and send it to them in a lump-sum payment whenever they ask for it. – Nick ODell – 2013-05-31T18:21:04.867

@jgm: hi thanks for response... i have rolled-back my original question. now is more clear. – Luca Filosofi – 2013-06-01T05:03:28.067

Don't think that this changes my response. The secondary payment is triggered on receipt of the first payment plus whatever additional constraints you want to put on it. There may be some generic shop software that triggers on the conditions, but from the point of Bitcoin it's just another transaction with nothing special about it. – jgm – 2013-06-02T13:56:44.563

0

Take a look at https://coinsplit.io/. It's a bitcoin payment processor which splits incoming transactions according to your settings and send them further.

For example: https://coinsplit.io/scheme/248/

limpbrains

Posted 2013-05-31T16:13:15.657

Reputation: 1