Forum PayVault I can take money thru PayPal, can I pay it out that way?

Discussion and help relating to the PlayerIO payment solution, PayVault.

I can take money thru PayPal, can I pay it out that way?

Postby robertflesch » November 29th, 2017, 7:03 am

Couple of questions
1 ) When a user buys my tokens(coins) thru PayPal. PayPal they take their 3%? Lets say the user spends 5 USD, I will see credit in the PayPal account that I have linked for around 4.85?

2) Now lets say a user creates items that are of value to other users. Would it be possible to credit the user thru PayPal, or is it just a one way street? In order to credit them I would have to get their PayPal account info separately.
Has anyone done this?
robertflesch
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Re: I can take money thru PayPal, can I pay it out that way?

Postby Henrik » December 6th, 2017, 5:10 am

Having a system that both takes in money from semi-anonymous users and pays out money to semi-anonymous users is very, very tricky to handle with regards to applicable laws and regulations. Specifically, if you're in the EU or the US, there are very strong regulations around money-laundering that are extremely burdensome to live up to.

Most likely, PayPal will flag your account faster than fast if they get the slightest suspicious that your business might allow this.

There is no functionality in PlayerIO to handle payouts, but it should be possible for you to do it. It would most likely have to be some sort of process where you manually handle and approve each payout, and you will need to work with PayPal to make sure that the accounts you pay out to are as verified as possible within the PayPal ecosystem. I don't know exactly what the terminology is, but I know PayPal has levels of how verified and "real" an account is, and that controls what can be done to and from such accounts.
Henrik
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