News for hackers. Stuff that matters.

A comment on Bitcoin: the Stripe perspective. Parent comment

Re:Bitcoin: the Stripe perspective by sida on Wednesday July 23, 2014 @05:16AM (#8073452)
Does it mean that even if it goes through the VISA network. Actual settlements still have to hop through layers of peering banks?

Do you see an advantage for bitcoin then by removing the need of peering banks?

[ Parent | on HN ]
Re:Bitcoin: the Stripe perspective by gendal on Wednesday July 23, 2014 @09:05AM (#8074117)
I don't know enough about Visa's design to comment authoritatively - but my working assumption is payments from issuing to acquiring banks in-country are done net and through visa - i.e. one net payment per issuer into visa and one net payment out to acquirer. e.g. see the last page of this doc: https://usa.visa.com/download/merchants/visa-core-principles...

What isn't obvious to me is what happens in international scenarios - you ask a great question.

[EDIT] - Actually - here's your answer.... See section 2.3.3 of this doc: http://www.bis.org/publ/cpss53p16.pdf

[ Parent | on HN ]