Author: Tim Tuxworth Founder Go-taxi.biz 2014-02-03 20:30:58
Published on: 2014-02-03T20:30:58+00:00
In a discussion about the limitations of BIP70 in cancelling payments, Tim Tuxworth, founder of Go-Taxi.biz, questioned whether BIP70 was only limited to HTTP and not applicable in face-to-face scenarios, real-time transactions like ticket sales or gambling, and socket and/or bluetooth connections. The conversation revolved around the fact that over HTTP, merchants were unable to reach out to a customer's bitcoin wallet on their own, making it impossible to send a "Cancel Payment Request" to the user. However, if the customer decides not to send payment, no action is required. To cancel payments, there are two ways: if the merchant realizes their mistake, they can refund the money; or if the customer realizes the problem, they can contact the merchant, provide the signed request, and ask the merchant to return the funds. Tuxworth argued for the need for a "Cancel Payment Request" message and suggested that a "Reject Payment Request" may also be required in situations such as when the merchant cancels a request before payment is sent or when the customer decides to pay using another mechanism like cash or credit/debit.
Updated on: 2023-06-08T02:15:10.043608+00:00