Supported payment mechanisms

Will it be possible to buy/sell items on the SAFE network using credit cards (e.g. Visa, MasterCard, PayPal)? I couldn’t see examples of this functionality, or discussion about it in forum posts. Apologies if this is obvious- I’m new and not particularly technically minded.

This can only be provided by the people buying/selling. So its a function of the shops that spring up on SAFE.

These companies do not know of the SAFE network, obviously because it doesn’t exist yet. Typically on the clearweb there are either merchants that have merchant facility with the creditcard companies/banks and their software handles this. Or they use a payment gateway that does that functionality for them (and paypal is a form of that)

I would expect that when SAFE becomes more wide spread that some of these gateways will appear and offer their services for companies/people to use on the SAFE network.

In the longer term you hopefully will see these businesses using SAFEcoin for their transactions and exchanges on the SAFE network will provide a way to get or sell SAFEcoin for other crypto or maybe even fiat. Its even possible that they may run a payment gateway for the creditcards. Although I think the creditcards do not allow the gateways to “dispense” cash.

This functionality certainly will not be a function of the SAFE network itself, but be APPs/programs/sites running on the SAFE network to provide this.


Thank you so much for the thorough and prompt response! Just to be crystal clear, I take it from your answer that there is no technical impediment in the way the network operates that would prohibit vendors offering payment gateways of this kind (once it is running and publically accessible)?


The only issue I can see is that because of the legacy systems that the financial gateway network works on will mean that a bridge to the traditional internet is needed.

This may mean that gateways will be physical computers/hosts that the software will run on.

So the APPs will talk to the gateways via SAFEnet and the gateways talk to the financial system


Thanks again @neo. Much appreciated.


@neo has, I believe, provided the correct answer from my limited understanding of SAFE. However, wouldn’t it be ideal that over time there would be a very limited need (or even use) for credit cards to make purchases? Using cryptocurrencies such as safecoin, bitcoin, and others, should be the preferred way of transacting over the Internet and over the SAFE network. Why? A major advantage of cryptos is that they are not prone to charge backs as credit cards are. These charge backs are a huge pain point for merchants who frequently have to deal with fraud. As well, settlement times typically take days in the traditional finance world whereas with cryptocurrencies they are instant or nearly instant. Of course, I did not mention anonymity. With credit cards all of your purchases are accessible to third parties and directly tied to you, the person. Not so with cryptocurrencies. Only you and the merchant are aware of the transaction.

Having said all of that, I know that at this stage most people out there do not understand this new paradigm of cryptocurrencies, but it is up to us pioneers to spread the word, educate, and extol the virtues of this new digital [r]evolution. In time, most will come to the same realisation and will transition away from traditional credit cards. Time will tell, but things are certainly exciting.


Many use credit cards because of the protections available and the fact that it’s not the users money, its the issuing banks money. Crypto is cash and payments are irreversible. Its a bonus for merchants but can be problematic for consumers who are protected against defective products, scam vendors, insolvent merchants, and so on. Merchants return/ refund/ warranty policies need scrutiny before spending significant amounts.

The incentives necessary to put cash before credit need to be overwhelming.

Having said that, many today are flush with crypto and want to spend their windfalls regardless.


All valid points. But let’s remember that credit cards are a relatively new financial innovation. Prior to that all currency transactions and even loans required knowledge of both parties. The Italians of the famed city-states made a lot of progress in this regard with various schemes to reduce moral hazard. Many of these credit-worthiness mechanisms continued into our modern age.

Of course, customers want convenience and protection, but merchants do too. The great thing about today with technology as pervasive as it is, we have easy access to reputations of both merchants and borrowers. We also have escrow services and many products come with warranties. So I think that these and other systems can function to protect consumers while reducing credit card fraud for merchants and banks to deal with.

I do not foresee credit cards disappearing, but like you said, with the right incentives, cryptos can become the de facto standard for online and offline transactions. Think about how many people today who do not have access to credit cards due to poor or non-existent credit scores or simply the lack of infrastructure in a particular country. These people can, today, start transacting in cryptos and totally bypass the credit system. Most of these people already deal in cash, so are used to the ideas discussed above about caveat emptor, etc.


It is possible that in time there will also be crypto-coin purchase insurers that will offer purchase protection for a fee or percent of the sale.


If there is a market demand for this, then I don’t see why some smart entrepreneur won’t fill that need.