Embedded Files
SEND MONEY THROUGH A TRUSTED PEER
P2P participants
P2P participants
Anybody can make a payment through this P2P (person-to-person, or peer-to-peer) network. However, for legal and tax reasons, the trusted recipients or mediators, and the eligible purposes, are strictly limited and are restricted to the non-profit categories listed below:
TerriFict | www.terrifict.crickett.org | Terrific fiction books. A special supplement of the CRICKETT journal, dedicated to fun for intellectual workers.
CRICKETT ● ISSN 2453-7209 | www.crickett.org | The first robot-friendly and AI-ready non-profit scientific journal.
Slovak Histochemical Society | www.histox.org | A national learned society with international educational and research programs.
Marek Dudas, M.D., Ph.D., Associate Professor | www.linkedin.com/in/marekdudas | www.facebook.com/dudas.marek | Scientist and educator. Publicly registered statutory representative, and/or trusted treasurer, of a few organizations, projects, and causes.
How it works
How it works
You know such frustrating situations: You need to pay for something, but you don't know how, or the payment would be incredibly difficult to make or transaction costs astronomical. Do you have a friend close to the target location? You can send money to that friend, who in turn will make the payment on your behalf. It's a cost-free personal peer-to-peer (P2P) help, not a commercial service. However, for the record, P2P is typically done through official financial institutions, so there is an electronic evidence of payments for both involved parties.
Security
Security
P2P participants are reliably identifiable physical persons or legal entities, with properly verified accounts at respected financial institutions. This P2P never asks you to use payment methods other than standard secure transactions, such as common debit or credit card payments, electronic valets, bank transfers, or other established and well-known payment modalities.
Costs
Costs
Since this is not a business, no costs are incurred by the P2P help line per se. However, if monetary institutions are used in the P2P pipeline, the respective banks or electronic valets or other payment processors / mediators may charge their own fees along the way. That's completely natural and understandable. Of course, if the P2P participants find and use free payment methods, then there are no costs involved. It's the responsibility of the P2P participants to identify the cheapest or free payment methods, or to agree on any payment methods accepted by the respective participants.
Example scenarios
Example scenarios
The following descriptions are just hypothetical situations and example case scenarios. These are not your personal instructions.
Apartment rent ● Your month-to-month $1200 apartment rent in New York is due tomorrow. The property manager is a grumpy man who only accepts paper checks slipped under his door on the 1st day of each month - no other way around. You cannot do that, because you contracted a virus and are quarantined in Bulgaria.
P2P solution: Call your neighbor, ask for help, and send them enough money electronically. They can write a physical check for the manager.
Costs: Perhaps both you and your friend may have PayPal or similar account, in which case you may be eligible for cost-free transactions. If not, a wire transfer or card payment will cost you and/or your friend some fees, but your day will be saved: No rental termination, and your furniture and other personal belongings will not be thrown on the lawn or junkyard. Oh, yes, you will have to buy your neighbor a beer, coffee, or something, after you come back :-)
International donation ● You want to make a €1 donation to a EU-based nonprofit NGO, but you live in USA and only have a US$ account. The international donation gateway charges 10 %, plus your payment processor charges 3 % + 50 ¢ per transaction, and there is a currency conversion fee. At the end of the day, the NGO gets 35 cents at best.
P2P solution: Send $1.30 (or whatever the exchange rate might be at the time) to your European friend's electronic valet. The friend can use a cost-free EU-based donation portal.
Costs: If you don't ask your friend to do such mediated donations 20 times per week, you will still remain friends - so, no emotional costs. Money-wise, if you use free instruments, the entire transaction chain may be completely free.
Membership dues ● You need to renew your membership in an international poets association.
P2P solution: Send your fees seamlessly through the association's treasurer who is listed on the P2P portal.
Costs: Your sending fees will depend on how you send your money - it can be free or nor free, it's up to you and your bank. The receiving costs are paid by the recipient (i.e., by your poets association), and therefore you don't need to worry about those.
Page updated
Google Sites
Report abuse