Open Payments Card System

I feel great disadvantage of current system is you have to transfer money from one end of the world to the second end. If you use 3rd party processor it is yet worse, you make 2 long distance transactions. My idea is that if the numbers of ingoing and outgoing internet transactions are nearly equal per one country the most money should stay in that country and just to be transfered from surfers in that country to webmasters in that country. Transfers in one country are usually much cheaper, faster and if you get betrayed you have better options for revenge.

My idea is that could exist one internet international system with one banking account in the bank which does not charge for incoming transactions. Everybody could pay for example $30 by wire transfer into system account to become regional provider of the system for next 3 months. As soon as the transaction is received he is approved.

When somebody wants to open account with the system to be able for pay for adult paysites or receive payments for access he has to choose approved provider in his country. If there is no provider yet in his country he/she can pay $30 and become first provider in that country. Each customer of the system opens empty system virtual money account. Only his/her provider is able to fill it with virtual cash after receiving real cash.

Then customers pay each other from one virtual customer account to another. System makes evidence of transactions but what is only important thing is the difference between initial and final provider balance for all customers of this provider together for some time period. Let's say the period is 24 hours long.

If the balance difference of the provider is over $20 for that period he should immediately wire the difference to system account at his expenses. If the balance is below $20 but better than -$100 the difference is carried to next period. If the balance is worse that -$100 manager of system account sends wire to that provider but subtracts cost of the transfer.

When webmaster has enough virtual money on his account he can withdraw from his provider. Fees depends on providers and may differ.

System is living from provider approval fees.

Provider is living from fees to customers depositing or withdrawing money.

When provider is not paying webmasters they will abandon him. When provider does not pay to system, last transactions are reversed to reduce his negative balance and all provider's customers are loosing possibility to send or accept payment. The provider should pay them their balances.

Yes, just an idea and you surely find many weak points (as system stability against fraud) but there are no cards and no chargebacks.