BTCMarkets Drops POLI Pay Support But Is Considering Adopting The Australian NPP Payment Platform
Under a week ago, BTCMarkets.net, one of the Melbourne, Australia based crypto exchanges announced on Twitter here that they have dropped POLI pay support.
I've been of two minds about POLI pay. On one hand, it was the fastest way to send fiat currency to an exchange, typically arriving within a few minutes of the transaction. It also allowed a higher daily transfer limit when combined with BPAY.
On the other hand, it was indistinguishable from a phishing scheme and I am fundamentally against providing username and password information to a 3rd party. That said, I'm not all that sad to see it go as I've heard such complaints from those in the IT security field.
The tweet additionally mentioned the "New Payments Platform" as something that BTCMarkets is looking at adopting. A crude looking website is available at www.nppa.com.au. It is a 24/7 365 payment platform that I suspect has been introduced partly thanks to the availability that the crypto innovation has provided us. In comparison, the banking system is hideously slow so this increase in availability has likely been market driven.
Learn (a little) more about the NPP with this high level video from the NPP website.
Another NPP feature is the ability to supposedly not only attach text to transfers but also entire documents. That looks like a neat feature. Transfers are apparently possible without needing to remember account numbers and facilitates not only one to one but one to many payment methodologies.
The video linked above attributes NPP to industry collaboration and intimates that it will be used not only in financial circles within Australia but in Government as well. I'm waiting to learn more about it but see no evidence of it being decentralised and if it's the case that it's a bank product, I'm not particularly interested.
On the other hand, another way to move fiat into the crypto space via exchanges is a welcome development. We shall have to wait and see, but for now BPAY is the only way to load fiat into BTC Markets... a drop in the feature set offered by the exchange.
Thanks for reading and I will keep you posted.
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Thank you. What in particular do you like about my post @shashiprabha?
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Thank you. What in particular do you like about my post @alex-linda?
nice bro your post is informatic
Thank you. What in particular do you like about my post @abuzar1?
Useful details info dear. Thanks to you. You did well and your writing quality is very good. Many posts are here but quality matters..Well done. Keep posting here and try to do help and concern people about crypto . It's going to boom.
Looking forward your next post. @nolnocluap
Thank you. What in particular do you like about my post @mindfreezer?
I was interest by the name "Rarepepe" sounds like I dont know.
At any rate, I have unavoidable issue about Crypto matter.
Can any anyone explain why there are loads of organizations out their creating digital forms of money?
Kindly enable me to comprehend about this issue! I saw new coins each and every day. Whats the connection to their line of business or items?
Hi @ranadildarahmad. I'm not sure that I understand your reply or how it relates to this post. Are you able to clarify? If you have a general question about cryptocurrency then a dedicated post may solicit some targeted answers for you. Does this help?
The decline in debt leads to something undesirable
Hi @roselover. Sorry I don't follow what you mean here. Which debt is declining?
Hi nolnocluap :) its was very informative , I was searching for one such article related such news and you posted :) Thank you keep updating us more. :)
Thank you @dailytech. Glad to help.
It seems like BTC supremacy is gone!
Hi @hebro. This may be true, but my post was related to the payment options offered by a particular exchanged called BTC Markets. The name is possibly confusing.
I was interest by the name "Rarepepe" sounds like I dont know.
At any rate, I have unavoidable issue about Crypto matter.
Can any anyone explain why there are loads of organizations out their creating digital forms of money?
Kindly enable me to comprehend about this issue! I saw new coins each and every day. Whats the connection to their line of business or items?
its just an unregulated way of raising capital for new projects. If the project has a valid use and the coins are vital part of the project then the coin should increase in value by way of demand. Some platforms are useful but the coins are not vital to the eco sytem so might not be worth much long term. i.e Ripple is a popular platform but the currency is not vital to its use. The price of many coins is generated by speculative value only and therefore quite volatile.
I dont think btc will fall to under 9k again. It fall because supply > demand. But the btc community can make it back demand > supply when the price fall. The price will go up again gradually.