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Business Owners XRP use Cases


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Hi, if you are a Business Owner do you have any idea of how you could use XRP on your own company?

Just a random question to see the XRP everyday usage on every sector of any company.

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I have no idea, but if there was a way we could avoid using PayPal (insane fees) etc., we would do it. I don't see it, though, as competing with PayPal wouldn't make any difference at all seeing our clients prefers to use PayPal.

 

There are competing Blockchain projects out there (Utrust), but they need mass adoption. It doesn't help that they are better or much cheaper, we're still stuck with Paypal if our clients insists on using it.

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This is very simple. You sell your products using XRP instead of Visa, MC or PayPal. The obvious advantages are that you get paid (and it settles) instantly and you don't have to pay 3% fees on each transaction. Both of these benefits are significant if your products run in the thousands of dollars and often need to be shipped right away. 

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1 hour ago, VanGogh said:

This is very simple. You sell your products using XRP instead of Visa, MC or PayPal. The obvious advantages are that you get paid (and it settles) instantly and you don't have to pay 3% fees on each transaction. Both of these benefits are significant if your products run in the thousands of dollars and often need to be shipped right away. 

I'm not super informed on credit card agreement between stores, but I believe I've heard that stores can't offer discounts for cash purchases because it would dissuade people from using credit card. I wonder if they'd be able to sell something for $10, but offer it for slightly less in XRP (real-time USD value, of course) because of that cost savings or if that would be an issue as well. The only counter-point would be gas stations since it's pretty common to get a few cents off per gallon when paying in cash.

If they could offer a discount, imagine everything being 2% cheaper and businesses just pocket the 1% savings that aren't going to the credit card companies.

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Gentleman's clubs...have a media screen on each side of stage.  This is then used to introduce the talent as they enter the stage.

During the performance the talents QR code for their wallet on on the screen.

Clients can scan to tip....instead of throwing cash.

Some talent might want to have their QR code on a card, sticker, pin or necklace (pictured) and then allow gentleman to scan while up-close and personal.

 

QRNECKLACE_Hero_3.jpg

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2 hours ago, Xrylite said:

I'm not super informed on credit card agreement between stores, but I believe I've heard that stores can't offer discounts for cash purchases because it would dissuade people from using credit card. I wonder if they'd be able to sell something for $10, but offer it for slightly less in XRP (real-time USD value, of course) because of that cost savings or if that would be an issue as well. The only counter-point would be gas stations since it's pretty common to get a few cents off per gallon when paying in cash.

If they could offer a discount, imagine everything being 2% cheaper and businesses just pocket the 1% savings that aren't going to the credit card companies.

As it is in most instances the retailer eats the credit cards fees, usually between 2-3%. Sometimes they pass that cost onto the consumer, but not usually. It could be a benefit to both parties however it's divided up. The shipping is significant too, however, because if your product is worth thousands you do not want to ship it immediately because the credit card charge hasn't settled. Often this takes a week. As the seller, you hate to tell your consumer that you can't ship for a week. As the buyer, you hate to wait a week. So, the seller is usually in the dilemma of shipping a product that could have been purchased with a fraudulent card. XRP eliminates all of that uncertainty.   

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8 hours ago, VanGogh said:

This is very simple. You sell your products using XRP instead of Visa, MC or PayPal.

That’s a good way to go out of business, at least right now. No one is buying things with XRP. 

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57 minutes ago, VanGogh said:

No **** nobody is using it yet, moron. The question was "how you 'could' use it." Do I need to explain it to you more simply #$!(@$&!? 

 Relax, brother. No one was attacking you. The word “could” does not imply that hypothetical assumptions need to be made. 

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I can’t think of any other use case for xrp in my business other than accepting payment. I’ve mentioned in another thread that it would be awesome if there was some way of adding a plug-in for quickbooks invoicing that would allow for acceptance of crypto. There are direct links at the bottom of my invoices to pay, one link for cc, a second for bank transfer. A third for crypto payment would be awesome (esp if the customer chose xrp for payment bc I would immediately have access to it). Currently, cc payments don’t arrive in my acct until 1-2 business days and bank transfers take a full week - all my business is done domestically, I don’t understand why it takes a full week!? 

I do think I’ll start adding my own wallet to the bottom of the invoices via qr code though. Most of my customers will have no idea what it is, but if they ask me, please believe, I’ll explain! If quickbooks offered this feature for all invoicing, for all their clients, I figure that could go a long way in regards to mainstream adoption...

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These claims that XRP make a great payment currency completely conflict with the prevailing mindset that we are to be holding. There is no way I would ever use a crypto that I am expecting to increase in value for routine payments. There’s just no advantage over using the dollar. 

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51 minutes ago, ringer2 said:

These claims that XRP make a great payment currency completely conflict with the prevailing mindset that we are to be holding. There is no way I would ever use a crypto that I am expecting to increase in value for routine payments. There’s just no advantage over using the dollar. 

Why not? It settles instantly. Receiving payment this way would be great for me. I hold as well, and would not use it to pay somebody else, but the idea that a customer could pay, and the recipient would receive it instantly and with less fees proves that it would be “a great payment currency”. The OP was just curious abt use case and businesses. Payment is a great use case!

edit- I do agree, not a huge advantage over fiat when it comes to making the payment, yet... 😉 ... But as a receiver of the payment, I see a great benefit!

Edited by Joeymc13
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26 minutes ago, Joeymc13 said:

Why not? It settles instantly. Receiving payment this way would be great for me. I hold as well, and would not use it to pay somebody else, but the idea that a customer could pay, and the recipient would receive it instantly and with less fees proves that it would be “a great payment currency”. The OP was just curious abt use case and businesses. Payment is a great use case!

edit- I do agree, not a huge advantage over fiat when it comes to making the payment, yet... 😉 ... But as a receiver of the payment, I see a great benefit!

He's a troll who has a very short-term view of XRP's potential and likes to bait people. 

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I think that if XRP does become the, (or one of the,) cross border payment standard(s) then it is inevitable that it would also become an internet payment standard.

At that point your bank would likely be the holder of your xrp (as it is now for your fiat) and making the payment via ILP enabled browser would be a doddle.  Similarly receiving payment as the business would be no different than receiving it as fiat in-country via normal banking rails.  Many countries are now moving to near instant in-country fiat settlement.

The price volatility would not be an issue for two reasons...  firstly because at that point the liquidity is enormous and hence the short term volatility tamed.  And secondly because your bank would likely be offering an inbuilt conversion service where your funds are kept stored as fiat or XRP, or a percentage mix,  based on your preference. That preference would depend on your feelings about the long term inflation versus price volatility aspects of your storage choice.

But this much-to-be-desired future is at least a number of years away, and so I think at this stage looking for or even encouraging retail usage of xrp is premature in my opinion.  I know that others disagree with me on this, eg @BobWay is keen to get going in all directions at once.  So having smart people feel the opposite than me does make me wonder if maybe I’m wrong about encouraging delay.

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59 minutes ago, VanGogh said:

He's a troll who has a very short-term view of XRP's potential and likes to bait people. 

Oh, ok. 🤨

Nevermind that I’m actually right. You clearly define “troll” as “anyone who disagrees with me.”

Edited by ringer2
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