Payyr app – Direct Debit for friends

gocardless.com

16 points·sgottit··9 comments

My first thought was "That's a brilliant reworking of the idea of a Direct Debit"

Then the programmer in me started thinking - this is an O(n2) solution surely? In order to collect from friend A he has to setup and approve a DD to me and then to bob, dick and Jane.

I guess they are just having someone join once with a direct debit to GoCardless, then they debit and reroute as needed. The problem with that is they are on the hook for refunds - and it's impossible to prove me and my mate have not colluded.

Which I guess is why there will be a transfer limit around 10-50 quid? But the higher you make it the more useful it is but the more risky it becomes.

I hope you guys make it work - do let us know more details / paste the link I am too lazy to find

Congrats on the new product. Looks great!

Will it continue to be free beyond the experimental phase?

And will it support Bitcoin ?

What's the difference between this and Barclay's PingIt?

Payyr uses direct debit. However I'm not aware of any advantages of direct debit over bank transfers when paying friends & family

I guess Pingit has an advantage in that transfers take place within the same day. Direct debit takes about a week

PingIt it uses Direct Debit if you don't use a Barclay's account.

This is pull-based. Pingit allows A to pay B, but B does have to chase A for the payment. Whereas Payyr allows B to 'pull' payments from A after a DD is set up.

One is built by a corrupt megabank, the other by a London startup. Easy choice for me.

No contract, really?

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