Add `timeEstimate` to `PaymentMethod`

[mistermoe]

PaymentMethod is the type used for the elements within Offering.payinMethods[] and Offering.payoutMethods[].

including a property that alows PFIs to convey the estimated settlement time based on a given payment method could be very informative to individuals.

Proposing we add a field to PaymentMethod that allows PFIs to convey this information. haven't yet decided on

• Property name. maybe estimatedSettlementTime?
• data type and precision. thinking uint and seconds
• required or not. thinking required

[selfissued]

Like my comment in #262, I would try to follow existing payment industry practices to the extent possible here. Is there such a field in other financial transaction protocol, such as SWIFT? If so, great, copy it. If not, I'd think hard before inventing something new in this space.

[angiejones]

I like this, especially in cases where as a customer is considering multiple PFIs

[decentralgabe]

From digging through SWIFT I could not find an analogous concept; however, if LPs (fka PFIs) provide this type of data then I believe it would be useful to include in our PaymentMethod. Do we have any data to show that LPs have and will provide an estimate?

[mistermoe]

I like this, especially in cases where as a customer is considering multiple PFIs

@angiejones or even just multiple payment methods in a single offering. esp. given that different methods can have different fees associated to them. it adds a whole new layer to price off of

[mistermoe]

From digging through SWIFT I could not find an analogous concept; however, if LPs (fka PFIs) provide this type of data then I believe it would be useful to include in our PaymentMethod. Do we have any data to show that LPs have and will provide an estimate?

thanks so much for digging into SWIFT and looking. i couldn't find anything either.

i think LPs will sorta have to if we make it required and it's something i personally am in favor of if for no other reason than acting as a means to keep LPs honest / accountable. Technically speaking, Alice has a provable way to show that an LP either did or didn't deliver within the estimated settlement time simply by showing the message exchange between her and the LP.

[decentralgabe]

Excellent point this is a good piece of data we can use to score PFIs

[mistermoe]

minor snag here w.r.t. making this a required field for PaymentMethod (type which applies to both payin and payout methods): settlement times feel a bit awkward for payin methods. makes more sense to limit their usage for payout methods only. e.g.

Note

fields omitted for brevity

{
  "metadata": {
    "from": "did:ex:pfi",
    "kind": "offering",
    "id": "offering_01ha82y8d0fhstg95hhfjwmgxf",
    "createdAt": "2023-09-13T20:15:22.528Z",
    "protocol": "1.0"
  },
  "data": {
    "description": "Selling BTC for USD",
    "payoutUnitsPerPayinUnit": "0.00003826",
    "payin": {
      "currencyCode": "USD",
      "methods": [
        {
          "kind": "DEBIT_CARD",
          "estimatedSettlementTime": 60 <--- weird?
        }
      ]
    },
    "payout": {
      "currencyCode": "BTC",
      "max": "999526.11",
      "methods": [
        {
          "kind": "BTC_ADDRESS",
          "estimatedSettlementTime": 3600
        }
      ]
    }
  }
}

options here are:

1. limit requirement to payout methods only
2. make estimatedSettlementTime optional.

I prefer option 1. have a feeling that no pfi will use the field if it's optional esp. if concerned about scoring.

[decentralgabe]

Agree with option 1

[jiyoontbd]

i have not looked through SWIFT docs, but in terms of an LP facilitating remittance, it's pretty typical for a consumer to see (and if they don't see, ask for) payout delivery estimate. landing page of a popular remittance service wise.com showcases this (Should arrive in 2 hours at the bottom)