Add Verse as a payment method (popular European payment app)

[pazza83]

Verse

References:

• Verse website
• Verse Twitter
• Verse T&Cs

Verse is a mobile payment app based in Europe owned by Square. Users can pay and request money from your friends. Payments are immediate and free. It is easy to use.

Verse is designed for small payments between friends and family members and users should only transact with people they trust.

All the money you receive is stored in your Verse balance. From there you can send it to your friends’ digital wallets. When you want that money to be in your real world wallet, all you have to do is transfer it to your bank account. Depending on your bank, money can take anywhere from a few seconds to two business days to reach your bank account (worst case scenario, a transfer ordered on a Friday afternoon might arrive on Tuesday afternoon the latest).

Verse allows users to:

• Send money to their contacts listed in the contacts list on their mobile device.
• Request money from their contacts listed in the contacts list on their mobile device.
• Receive and withdraw payments made by other Users that have your mobile phone number saved in their contacts list.
• Payments via Verse card (if they have one)
• Withdraw cash using Verse card via ATM network (if they have one)

Money can be added by debit / credit card. Verse accepts VISA and MasterCard. Withdrawals are made to your linked debit / credit card.

Why

Verse is like the European Cash App. It is multi currency, easy to use and payments are instant and free.

Region

Verse operates in the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Poland, Portugal, Slovakia, Spain, Sweden, The Netherlands, and the United Kingdom.

Currencies

EUR, GBP, SEK, HUF, DKK, PLN

You can change between currencies in the your Verse account. Your default currency is decided by your phone number's country code. You can switch currencies every time you make a payment (the currency menu is right above the amount you are paying) and the change will be made immediately.

There are no commissions when changing of currency, the current change rate (Visa mid-market) will be applied.

Chargeback risk

Low

Authorised payment order submitted by the User is irrevocable the moment it is received by Verse. The moment of receipt is when the Verse receives the authorised payment order. Verse does not undertake responsibility for errors, discrepancies, repetitions and/or contradictions in payment orders submitted by the User, including but not limited to, correctness of the details of the payment order submitted by the User.

Size of user base

Over 25 million active users

Data requirements

To send payment to someone you need there verse user name (similar to Revolut, it is created for you based on first and last name).

Verification

TLSNotary is unable to be used as app based.

Will require screen recordings / screen shots.

Prohibited uses

Does not define cryto as being prohibited

Duration

Instant- seconds

Fees

Free

For payment operations that involve currency conversion and currency exchange services, the exchange rate will be calculated based on the currency sale or purchase rates, as applicable, by Visa International

Fraud risk

Low

Payment amounts

€10,000 per year (or equivalent foreign currency amount) for accumulated payments made from or received into their payment account. Can be increased on request.

[pazza83]

Verse has been scored for inclusion to Bisq:

Essential	Desirable	Definite No’s
Very low risk of chargeback	No risk of chargeback	< very low risk of chargeback
Way to verify the sender in the received payment	Way to verify the sender in the received payment and ability to enter a reference	No way to verify the sender in the received payment
Trade time less than one week	Instant payment	Trade time more than one week
Singular Fiat currency	Multi-currency	Not a payment method for fiat currency
Significant user base	Large user base	No significant user base
High usability	High usability and great user experience	**< high amount usability~~
No KYC required for sending and receiving payments	No KYC required for sending and receiving payments, allows users to trade with upmost privacy. Minimal identifying information as possible (no names, email, phone etc required)	Some KYC required (proof of address, ID, selfie) for sending and receiving payments
Low risk of scam attempts	Very low risk of scam attempts	< low risk of scam attempts
Traders can provide evidence of payment / receipt	Traders can provide evidence of payment / receipt and Verification of payment can be made using PageSigner or similar	Traders will be unable to provide evidence of payment / receipt
Minimum limit at least equal to at least account limits protocols	No minimum limits	Minimum limit not able to achieve account limits protocols
Maximum limits equal to at least 0.01 BTC	Large payment limits up to 2 BTC	Maximum limit is less than 0.01 BTC
Likely to increase liquidity	Likely to increase liquidity and open markets for different countries and currencies	Likely to decrease liquidity
Low risk of mediation	Very low risk of mediation	< low risk of mediation
Low risk for traders from government agencies	No risk for traders from government agencies	< low risk for traders from government agencies
Fees should not be a barrier to trading	No fees for transactions	Fees will be a barrier to trading
Only minor changes needed to trade protocol	No changes needed to trade protocol	> Minor changes needed to trade protocol

Score: 24/32
Percentage: 75%

[pazza83]

Verse will no longer be available to UK based users:

Email from 27.04.21

As you know, the UK formally left the EU after the transition period ended on 31 December 2020.
Verse was able to secure some extra time for our UK-based users to continue enjoying their accounts via the Financial Conduct Authority’s (FCA) temporary permissions regime (TPR). However, going forward we will not continue offering our services to anyone based in the UK. Please make sure to withdraw any positive balance before 1 July 2021. We will be closing UK-based accounts on this date.
If you originally signed up with a UK telephone number, but are now a resident of an EU/EEA we’d love to keep you on. You’ll need:
Withdraw funds from your account
Delete your account
Sign up with your EU/EEA phone number to be able to use Verse

[pazza83]

Verse - Proposed National Currency Payment Method

I am proposing that Verse to be added as a national currency payment method.

@refund-agent2, @huey735, @leo816 please let me know if you have any questions as to how Verse will be mediated / arbitrated. If you have any objection please let me know by 31 May 2021.

---

Date proposal being made: 01.05.21
Date feedback to be provided by: 01.05.21

Name of payment method: Verse

Required fields (eg)

• Verse user name

Maximum trade duration: 24 hours

Signing required: No

Regions accepted: Europe

Currencies accepted: EUR, SEK, HUF, DKK, PLN

Bisq Limits: 0.25 BTC

Trade window: 1 day

Any relevant information for mediators / arbitrators: Verification might be via mobile screen recording if bank is app based.

Any relevant information for devs: No

Any relevant information for users: No

Screenshot of expected GUI: TBC

[pazza83]

Here is the XD for Verse, it should be straight forward to add:

[pazza83]

Information required for Bisq software strings:

Hi @jmacxx here is the information for the strings.

Let me know if you need anything else:

Special info about any of the inputs required for creating the payment account:

Verse is a multiple currency payment method that can send and receive payment in EUR, SEK, HUF, DKK, PLN.

When setting up your Verse account in Bisq please make sure to include the username that matches your username in your Verse account. This will ensure that when you send funds they show from the correct account and when you receive funds they will be credited to your account.

Verse users are limited to sending or receiving €10,000 per year (or equivalent foreign currency amount) for accumulated payments made from or received into their payment account. This can be increased by Verse on request.

Special items to be aware about when sending payments (for BTC Buyers):

Please send payment only to the username provided by the BTC Seller in their Bisq account. Please leave the payment description blank.

Verse users are limited to sending or receiving €10,000 per year (or equivalent foreign currency amount) for accumulated payments made from or received into their payment account. This can be increased by Verse on request.

Special items to be aware about when receiving payments (for BTC Sellers):

BTC Sellers should expect to receive payment from the username shown in the BTC Buyer's Bisq account.

Verse users are limited to sending or receiving €10,000 per year (or equivalent foreign currency amount) for accumulated payments made from or received into their payment account. This can be increased by Verse on request.

[pazza83]

Wiki completed: https://bisq.wiki/Verse