THANK YOU! This is Great!
So my deeper question is what is the Credit Card Company that The Butterfly Card uses?
Visa, Mastercard, etc?
PayServices owns their own servers and the 'Point of Sale' terminals are virtual and built into the software apps such as the 4 smartphone applications downloads for Windows Phone, IOS, Android, Blackberry and the Butterfly Browser. The Butterfly Card transactions are made within the PayServices network which allows for conversion covering every store of value listed on PayServices. The PayServices system handles all processing in house instantly. If a merchant runs a transaction with a Visa or MasterCard through a PayServices 'Point of Sale' Terminal PayServices only processes its fee for the use of the PayServices Butterfly Network and lets the Visa or MasterCard companies to process their own transactions void of any liability on the PayServices end.
This is all theoretically speaking. I do not have a Butterfly Card yet so frankly I really do not know. My suggestion would be to obtain a Butterfly Card and see what all it has to offer and if it covers your specific needs. Then come back to this [ANN] Thread and report your findings.
So, would the Payservices card be accepted at ordinary terminals that retailers use--the ones that take Visa, MasterCard, and Discover?
"The Butterfly Card transactions are made within the PayServices network"
I think retailers need to have the PayServices PoS terminal.
I believe your correct on both answers. Mass adoption is definitely needed. PayServices is a start up and will need a lot of help from the Crypto Community in achieving mass adoption, but that should not be hard since its got so much potential due to the large amount of currencies that will be traded plus the numerous features offered within the system. These technical details are difficult to know until the cards are in peoples hands and the platform is completed and working which we were all told would be 30 days after launch which 20 days still remain. When I answer any questions I am only going by what I have heard or read but mostly just guessing based on common sense and quite a few years experience in the Bitcoin industry in general.Thank you all for the inputs.
As you are all aware, when there is a new product/service coming out there is still an adoption curve.
At this moment we are still in the early adopters' adoption curve.
The current retailers are at the moment only accepting legacy cards in fiat currency and are not yet equipped to process payments in any other currency.
The main goal of the Butterfly Card is to provide a solution to accept payments in any currency.
Anybody who currently installs the "Butterfly by PayServices.com" mobile app on his phone can accept payments from the Butterfly Card - where the phone becomes the Point of Sale terminal.
In addition to that, retailers who are interested can also get a dedicated hardware Point Of Sale Terminal that can process transactions in fiat currency using legacy cards, as well the Butterfly Card.
Finally, anybody using the PayServices shopping Cart API for its website can also accept payments in any crypto currency that is supported by the PayServices clearing machine.