161–170 of 172 posts
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Cut out the middle men, the banks, use Bitcoin and you'll shave even the rest of the fees off.
Bitcoin is actually more expensive than SEPA transfers or girocard payments, and slower to resolve (and just as impossible to reverse as SEPA transfers).
He's getting 80% of the gross = 48,000/month. That's impressive income, half a million a year for what amounts to a good idea implemented at the right time. I love reading stories like this, and it demonstrates that there are still many opportunities out there. I don't understand some of these comments which seem to resent his success or belittle his company as "not a unicorn". That's good money, he works for himself…
Thank you! I’ll be first to admit it was perfect timing (which wasn’t planned at all). The freedom is what I was looking for; if nobody buys it, I’ll happy just keep running it. If Stripe launches the same features, I’ll figure out how to pivot. Or, build something completely new. Who knows what the future holds.
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Bitcoin is actually more expensive than SEPA transfers or girocard payments, and slower to resolve (and just as impossible to reverse as SEPA transfers).
That doesn't match my experience. I've never paid 3 EUR for bitcoin transaction and it never took a day, but SEPA does.
Normal SEPA transfers are mandated to be free and As you can freely choose any bank in the EU, you might want to consider German Commerzbank, which implements free < 15 seconds transfers to any other SEPA bank (except for student accounts, those have to pay 1.50€ for those transactions).
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> have to integrate with one of India's banks 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 isn't there a central bank provider for this? Now every bank has to implement their own.
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So if the person in front of your stall has a stolen card, and you are about to sell them some goods. Let us say you are selling them a tv. They play with their stolen card, take the tv, the card owner sees a transaction they don't know and complain to their bank, you get a chargeback. You just lost a tv. In the UK this is rare, due to chip & pin. It is very easy to defend a chargeback when the customer entered a pin…
Chip & pin is not a requirement in the US, but I agree with you that using it does alleviate risk. This is why Stripe offers a fee discount to 2.7%+5c when using their card reader vs. 2.9%+30c. These are common fee structures for other gateways like Square. The app runs all transactions through the Connect accounts Radar fraud filters, and the user can opt to force several levels of validation on the card (CVV, zip/p…
It really is in the UK. I think you will struggle here
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Would love to exchange emails or hear more about how you’re pulling this off as a developer. I’ve done similar, but I’m only aware of a couple ways to hit that amount as a solo dev.
Feel free to share a key in a post. -----BEGIN PGP PUBLIC KEY BLOCK----- mQINBF3PxsgBEADaF7Z0y+NqklGe4lqw9a49iYDf4Tc4OF+L6RDMUtFH94QnlWU2 OWfLvtLakevc+Jrs7ROo+u5EdJ6GC5etm9sTQ6rnPwDlPwavF2qVd6+yLlMpaTQs WZB4z0FXTtJYlGlmHt0lrhegFaNDr1pPfQYHzRPAKhzByL032rK+podDm8cqh2Ue 5t2W4ALKeegZpMw5jxv75x+EKXU0sqklqqxCkuGIC/luQQnVf4VuosM8tWlI+A00 HcrMuJk1m8+LSu1d7krZtgA2F0zAgZb2b2BWNBYlWyTeQgruRP9ylbPwY0/m2zdF GJOxU+LmQxAHGUWUwNcHX6…
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greetings, may i piggyback on this as I'd love to learn as well. can't say I have much experience with a pgp key though, i just generated one though and can post it.
Post it and encrypt an email address as the message, will get in touch with you there. There's not much to gpg messages, anyone who can use the command line can use them.
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Why isn't there a central bank provider for this? Now every bank has to implement their own.
There is a central provider called NPCI (National Payments Corporation of India). They run the entire network and control who gets on or not. Banks are used as the integration point because UPI necessitated a bank account to run out of. Since you’re directly debiting money out of someone’s account you can’t exactly turn away the bank and when they are on-board it makes sense to use them as an integration partner for…
Sure, the banks should do the chargeback/fraud management, but the IT interface toward the merchants should be completely standardized.
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Would love to exchange emails or hear more about how you’re pulling this off as a developer. I’ve done similar, but I’m only aware of a couple ways to hit that amount as a solo dev.
Feel free to share a key in a post. -----BEGIN PGP PUBLIC KEY BLOCK----- mQINBF3PxsgBEADaF7Z0y+NqklGe4lqw9a49iYDf4Tc4OF+L6RDMUtFH94QnlWU2 OWfLvtLakevc+Jrs7ROo+u5EdJ6GC5etm9sTQ6rnPwDlPwavF2qVd6+yLlMpaTQs WZB4z0FXTtJYlGlmHt0lrhegFaNDr1pPfQYHzRPAKhzByL032rK+podDm8cqh2Ue 5t2W4ALKeegZpMw5jxv75x+EKXU0sqklqqxCkuGIC/luQQnVf4VuosM8tWlI+A00 HcrMuJk1m8+LSu1d7krZtgA2F0zAgZb2b2BWNBYlWyTeQgruRP9ylbPwY0/m2zdF GJOxU+LmQxAHGUWUwNcHX6…
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I fully agree with this sentiment. I myself piggy-backed my product (or rather: feature) on a much langer company which was growing like crazy and have been able to grow it to a comfortable $40.000 per month over the last 6 years. It’s just me doing the bulk of the work with 2 friends helping out to handle 1st level support. Now that it is a mature product and as long as the company I depend upon does not overhaul th…
This is EXACTLY what I did, and I agree there are soooo many opportunities like this. I think most people are risk averse to it as they think the API might get shut off, but I look at it as a really quick way to build something. If it gets cut off, on to the next.