26 Nov '12, 4pm
New Post: Payments Startup Balanced Innovates In Wrong Direction - Forbes #payments #VC #bitcoin
Each of Balanced’s customers is a potential Bitcoin merchant. Zaarly is using Balanced to provide payments handling for its peer-to-peer task market. Instead of Zaarly having to build its own, it can used Balanced’s API. With Bitcoin there is a little different flow. You can’t pull funds from a Bitcoin user. Bitcoin is push only. But Balanced also handles the payout component. And that is a push transaction. Balanced could just as easily offer Bitcoin payments as it could ACH. But Balanced shows what is needed by the marketplace — a path that a Bitcoin variant could follow. Balanced is offered in the U.S. only. A bitcoin-variant could operate globally.