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Slightly off-topic and not doubting this particular story. Posts from this blog get submitted every few minutes it seems. Is anyone checking and verifying the numbers these companies and "startups" claim to make? If so, how?
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$60k/month is a hell of a “lifestyle”.
You can get that sort of money as a developer if you're lucky and in the right place. I just finished a contract with an Evil Inc that was paying pretty close to that. From my personal sample getting a job that pays that well is a lot easier than getting a business to be successful enough to have that much profit.
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You can get that sort of money as a developer if you're lucky and in the right place. I just finished a contract with an Evil Inc that was paying pretty close to that. From my personal sample getting a job that pays that well is a lot easier than getting a business to be successful enough to have that much profit.
Happy to not be selling my soul to another Evil Inc or having a boss... tried that several times before.
That said I'm buying some specialized equipment for a synthetic biology startup I'll be trying my hand at before my next contract. I expect to spend most of the money I made and get no where, again.
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Ah, good find! The article claims > The app collects a 1% service fee on every single charge. Per your comment, this is indeed a more expensive Square. Square already does Card Not Present transactions. The question then is why do people choose to use this?
Maybe they already have Stripe and don't do very many transactions this way, so they're not that cost-sensitive? For exceptions to their normal way of doing business, convenience might be more important.
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>but with cheaper processing fees What? The product's page says it charges 1% + whatever Stripe charges ("generally" 2.9% + $0.3). A quick search says that Square charges 2.6% + $0.10 per in-person transaction. Seems like that this product is more expensive than Square.
Good for him for getting paid now. But that margin is too fat to go unchallenged. Market forced and competition will grind that 1% down quickly.
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You can get that sort of money as a developer if you're lucky and in the right place. I just finished a contract with an Evil Inc that was paying pretty close to that. From my personal sample getting a job that pays that well is a lot easier than getting a business to be successful enough to have that much profit.
Happy to not be selling my soul to another Evil Inc or having a boss... tried that several times before.
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UPI must be the single greatest thing that have come out of India in recent years; digital payments made absolutely simple.
Having done a UPI integration for a well-known multinational tech company, I consider it a mixed bag. For the end-user it's a great concept and continues to revolutionize payments in India. It's convenient and it will help India transition away from a cash economy. UPI is clearly the future. However, UPI currently has a lot of problems. Number one is that to use UPI as a payment method for your product you have to in…
what you mention as a disadvantage is the biggest advantage. cut out the card men.
Banks' technical prowess will catch up. That is the solution. Not introducing a middle man just because he is technically better now.
Why does USA not have a system like UPI ( https://en.wikipedia.org/wiki/Unified_Payments_Interface )? It simpler, easier and cheaper (mostly free).
That UPI was agreed upon by enough people was a happy accident for India.