Monday, April 6, 2020

Paymail is here!! This is the Killer App for BSV mass adoption

Imagine paying someone by just sending money to their personal email address. Yes you can. This is Paymail and it goes into Beta today. The caveat is that it only works with a domain name address.

How it works.

Your email is the gateway to your moneybutton account. ( Relayx, Handcash )

1) You will need an invite to join the beta and you can do that through this link

2) Upon approval you will be given a mypaymail account example :

3) Adding new handles

In addition to your assigned handle you can create more handles as on the left side of the form. Each handle will cost $0.85 cents. You can use any amount of payment destination you wish.

4) What is interesting is the custom domian option on the right side.

If you or your organisation uses a custom domain for your emails, those emails can be linked to your payment destination. This means that anybody can pay you by sending money to your email address not your mypaymail handle.

I reached out to mypaymail on the process and they responded with this message.

"What DNS service provider are you using? Could you send me a screenshot of your zone editor?"

If you have a DNS provider that you have to pay for you can use the zone editor to enter the details.


There is an easier way to set up the DNS records but it only works with currently. So if you buy a domain from them, an autoconfiguration button appears and it will edit the DNS recods for you. 
also interesting is 

"We are not far from getting Godaddy support, hopefully I will hear from them this week."

This is a huge development for BSV. You can actually pay a real active email address!! 

But!!! Yes there is a but........

"Unfortunately, Gmail does not support Paymail, so we cannot use Gmail Paymails. But you can buy a domain, create a Paymail and start using it. Later, if you want to use the same Paymail as your email address, you can buy a GSuite or Office 365 package."

Unfortunately you have to pay for the service.

So, If I send some money to someones email address will he be able to set up moneybutton and receive that money?

"Currently, the Paymail account needs to exist when your wallet makes the payment. Otherwise, your wallet will return an error. The way to send money to an email address today is to create a wallet and then register a Paymail that matches your email address using a custom domain.

The idea of sending a payment to someone that does not have a Paymail account but has an email address is quite interesting. Also free email accounts are key, as you say. We will be trying to come up with innovative ways to address these issues in the medium term."

What about a smart contract? I link my friends email to a moneybutton account. This allows me to send to his email. He then has to create his own moneybutton account and automatically receive the payment.

And their reply is most interesting

"I just had an idea similar to what you are describing. We need to implement a couple of features to make it possible but it think it is doable."


Yes this means that you can onboard all your friends by sending them money! How many people can refuse that. And if you make this viral with a referral incentive --- Kaboom! Moon Moon Moon.

A word of thanks to Pol Moreno Yeste @ mypaymail for his help.

1 comment:

  1. A killer app that most of crypto community never heard about.