Show HN: ThreadPay: WeTransfer for money – a medium for money transfers | Hacker News Reader

Show HN: ThreadPay: WeTransfer for money – a medium for money transfers

app.threadpay.io

4 pointstaulantmehmeti7 comments

Often cross-border bank transfers default to 3-5 business days, on the other side P2P fintechs need signup, KYC, and other steps. I built an app that eliminates the need to open an account or go through long verifications, allowing users to send money immediately.

How? Via Visa and Mastercard card-to-card real-time transfers, money can be sent straight to a card using the card number only, without the requirement for IBAN, Swift Code, or any extra routing data.

*Link to MVP*: [https://app.threadpay.io](https://app.threadpay.io/)

*Link to Memo with demo recordings*: https://coda.io/@taulant-mehmeti/threadpay-memo

*Link to Landing page*: [https://threadpay.io](https://threadpay.io/)

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Love the user experience but would be surprised if a website like this would be approved for Visa Direct/Mastercard Send.

Thanks for the feedback. Right now finding a provider to facilitate transfers is the biggest challenge.

Great concept. Have you done much thought to factor in AMLc CTF and money laundering laws?

Interesting point, and how much falls between the issuer and the marketplace?

For example, I could setup a fake product on ebay to facilitate payments to me. eBay shouldn't need to do CTF checks on this possibility.

Thanks for the feedback.

Because the user already has a card, it means it has been verified by the bank (AMLc, CTF, etc.), and the bank has the final say on each transaction. I based ThreadPay on the logic of "checkout as guest" when purchasing something online; in my case, you pay an individual rather than a merchant.

According to security considerations, there are three layers:

1. The bank is the base layer. At any time, the bank may limit, suspend, or enforce any regulation on the user card.

2. The provider - Most payment providers, such as Stripe, have their own risk analysis products.

3. ThreadPay - based on the observation we will enforce our layer of security also. (We don’t have one at the moment)

Is it just a mock up and a landing page or is the MVP actually functional?

The MVP is functional. However, only with test card data.

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