OpenTransact supports many different use cases. Here are some common ones:
Basic Transfer/Payment
Strictly speaking this isn’t part of the standard, but every Asset Provider needs a simple interface like this for basic transfers.
User needs to transfer funds to another account holder of the same asset type.
1. User logs into Asset site
2. User clicks Transfer/Pay button
3. User enters recipient, amount and description and presses pay button
4. funds are transfered to recipient
Transfer Request
User makes a one off purchase on a website. Similar to PayPal payments.
1. User hits checkout button on website and is presented with checkout screen:
2. User selects a payment type from one of websites supported providers. The merchant may have a different price depending on the currency type.
3. User hits “Pay” button and is redirected to asset providers payment page displaying a payment confirmation page with amount, description and recipient from checkout screen
User presses confirm payment button and funds are transfered to merchants account and user is redirected back to merchants web site.
Subscription Payment
User subscribes to a web service paying $19.99/month.
1. User hits signup button on service, enters personal details and selects plan.
2. User is presented with payment screen:
3. User selects a payment type (Currency) and hits “Pay”
4. Behind the scenes the web service creates an OAuth request token on the selected currency’s server. Requesting a limit of $19.99 and frequency of 1 transaction/month.
4. Web service redirects user to OAuth token authorization page on Currency’s server, where User is asked if he/she wants to authorize web service to transfer $19.99/month:
5. User hits Allow button and is redirected back to web services thank you page:
6. In the background web service exchanges request token for access token and stores it in database.
7. Once a month web service uses OpenTransact REST API to create a transaction to them selves for $20 using stored access token
For more see the Use Cases Wiki page.