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TRIO Alternative Payments vs Card Payments: the Buyer's Experience.

Updated: Mar 15

When comparing TRIO vs. Card Payments- the question of speed immediately comes to mind. We are immediately told that Credit Card Payments are swift. This is true for 95% of the cases. But in some cases – Credit Card payments may last days and even be falsely declined, mainly because of fraud prevention issues. In this unfortunate case - you may buy a flight ticket or reserve a hotel room, get email authorization from a Credit Card company, and discover afterward that you do not have those tickets or room reserved (very unpleasant surprise).

When discussing TRIO payments – we must understand that the whole process is final: once the payment has been made – the Seller must deliver the purchase.

So, let's dive into the TRIO payments, step-by-step:

1. Step 1; Pre-payments at the Seller website. The Pay with TRIO button redirects the Buyer to the TRIO service site, where purchase data and payment instructions are displayed on the Pay with TRIO Service form. If the Seller decides to proceed, he will authorize TRIO service to share his info with the Seller. At this stage, the Seller is identified to be a part of the TRIO network.

2. Step 2: Payment at the Public Blockchain network, The Buyer pays the Seller the requested amount using TRIO Wallet and TRIO Identity Authenticator. After the Payment is confirmed – the TRIO Service issues the Authorisation ID, to be pasted by the Buyer into the TRIO Service form from Step 1. At this stage, the Buyer is identified to be a part of the TRIO Network.

3. Step 3: Post Payment at the TRIO site: After confirming your purchase with Authorization ID- the Buyer will be presented with the Personal Info (including his Address) for his review and approval. If he approves - the transaction is completed, and both the Buyer and the Seller will receive an email confirmation. At the same time - the Seller's website will receive the transaction data, encrypted for processing and purchase delivery.

As you can see in the attached video - the whole process takes about 2 min:

Now if one compares this with the Credit Card purchase, which usually includes filling in card details and personal info, 2-factor authentication, and email confirmation - this takes about the same 2 min.

But TRIO confirmation is final, while Credit Card confirmation is not - a huge difference for any Buyer.

The emerging A2A payments using Bank accounts and P2P networks such as Zelle and Venmo has some advantages over Credit Card Networks in fraud reduction, but still suffer from considerable drawbacks as compared with Pay with TRIO:

1. Slow settlement: Zelle – settlement "within minutes," Venmo settlement "within 1-3 business days."

2. Fraud and Scam : If someone gained access to your account, and stole money or sent it without your permission, this could be defined as fraud. If you were tricked into authorizing a payment for a good someone said they were going to provide, this would be a scam,

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