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April 30, 2020

HandCash and Anypay partner on peer-to-peer checkout service

HandCash has collaborated with Anypay to deploy the BIP270 protocol, a peer-to-peer payments communication standard.

The collaboration is said to offer online as well as retail merchants with faster checkouts that also address security concerns.

P2P Checkouts is a full BIP270 implementation that supports transaction structure negotiation.

At the same time, it supports payment-related data sharing such as invoice information.

“This makes it possible for non-custodial wallets and merchants like Anypay to earn Bitcoin (BSV) without ever holding their customers’ money, and saving them money and bureaucracy in money transmitter and custodial licences,” HandCash noted.

Moreover, operational efficiency will be increased as they are not required to operate a full node for whole blockchain monitoring.

Rather wallets like HandCash can send the transaction directly to them and they only have to verify it.

The new proposition has many benefits, one of them being that payments not adhering to the merchant’s needs can be rejected prior to being broadcasted to the miner layer.

It also supports the ability to set prices in fiat currencies as well as the ability to make payments to multiple recipients in only one invoice.

Merchants will be able to incorporate a signed receipt ID inside the transaction.

Besides, the checkout payments can be tokenised for transparency and traceability.

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