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Monday, October 18, 2010

The Public Beta Release – Preventing Fraud

We have put a lot of time and effort into YouTipIt over the last few months and we are aware that we still need to put a lot more work into it. Especially the bit which will protect us and your money against all the kinds of fraud which are out there on the internet. Fraud on the internet is a huge problem, and is probably the main reason why so many attempts at micro-payments/donations have failed. Many payment solution providers solve this problem, by simply adding a huge fee on each transaction, thereby being able to put money aside to swallow problems. At the end of the day though, it is you, the user of these payment system, who is helping the fraudsters make a living.

The main changes which you can expect in the next weeks, will involve mechanisms to protect against fraud. We are currently in the process of getting these legally verified and will post these changes here in the blog when they are implemented.
We’ve decided to go public a lot earlier than initially planned, mainly because we realized that we need to get out of our ivory tower and start getting in contact with all you buskers and tipsters out there. We are awaiting your feedback on all aspects of our system. Especially, if you see loopholes where we aren’t covered, then please contact us.
The beta is fully functional and you can use real money. Currently we are only offering PayPal as a payment service, but we are investigating on getting a few alternatives on board.

Short outages may take place and as we adjust and improve the system. So please bare with us, we will take good care of your money!

Your YouTipIt Team

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