Everything you need to know about the new terms and the usage of MangoPay, in 4 questions and answers.
1. Flattr is asking to sign news terms and to fill in some new information. What are the differences between the new and the old terms?
The big changes are mainly the addition of the MangoPay terms. Besides that we have basically just removed things that was not needed anymore. If you want to know exactly what changed, check this diff.
2. What will happen if an user doesn’t update the information and sign the new term?
Then will the account be suspended. When suspended you can not add and withdraw money or send and receive flattrs. To activate the account you just need to sign in and update the info though.
If you don’t activate your account within three months, your account will be removed and any money, flattrs and things will be lost. We will obviously contact users multiple times to ensure they know what is happening and try and help out in the best way possible. We don’t want to delete accounts but we are not allowed to have accounts that lacks KYC information so we have to.
3. What are the 3 main problems MangoPay is solving?
Firstly, the complexity of our double wallets. We have one for money you give and one for money you receive. A solution we had to have due to legislation, not choice. This also means we can’t allow you to withdraw money you added, also due to legislation. With Mango we will merge these two and you can withdraw all of it.
Secondly, we will eventually be able to do standard transfers between accounts, something that we are not allowed to do now either.
And, last but not least, bank transfers in and out. So you will withdraw the revenue directly to your bank rather than via PayPal or Skrill. This also means that if you want to use Paypal or Skrill this it the time to do it as it will not be possible after the move to Mango.
4. Flattr has abandoned Bitcoin funding because of “technical issues”. Can you be more specific? What was the exact problem? Was Bitcoin used at all ?
The payment provider had a window of payment of 15 minutes, too many transactions did not arrive during this time and gave us way to many technical issues and admin overhead. Not to say unhappy customers. Bitcoin was used, but it was just a few % of the money added to the system each month. Meaning the problems it caused could not be justified economically.