111–120 of 129 posts
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And walk around with a years salary in your pocket? Doesn’t sound like the best idea
If 1000 dollars is your years salary then you should not visit india for a tour.
> The Cheq UPI app works ONLY in India and we must verify your passport in-person before activating the UPI wallet. LOL, in person passport verification, really? No thanks. And even if that would be OK, where and when? The bullet points suggest that there is no sensible way for a foreigner to pay in India so I just won't go to India. That said, paying cash is probably an experience not as bad as depicted. I've been t…
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I can understand why 3.5% might sound high. But cross border payments are expensive to facilitate. And this is the best rate we've been able to figure out currently. Btw, In the US, Most ATMs are charging 3-5$ extra each time I withdraw cash. Plus the currency conversion charges. Our prices are definitely better.
> But cross border payments are expensive to facilitate Although that sounds logical, there are multiple services that offer 0% fx conversion. Wise, Monzo, Niyo etc. These travel cards are what I carry around in a different country.
Adding funds via credit/debit card incurs an hefty merchant commission.
And hence, no forex company can't sustainably provide 0 FX rates for too long unless they're only taking funds via bank transfer.
That's exactly what I need for an upcoming trip to Mumbai. But I am not able to download the app, is there country restriction?
Does this link not work for you? https://link-to.app/cheq
Can you try searching for Cheq in your app store/playstore and see if the install works from there?
What's the error
Congratulations on the launch! I presume you need to be licensed to build UPI applications? Curious to learn what this process involves and your experience here. Do you realistically need connections to be able to get a license?
These are the steps you'll have to follow if you plan to launch a new UPI app:
First, you'll finalize the business plan + team.
Second, you'll have to find early investors and backers
Third, you'll have to find a banking partner to work with
Fourth, you'll have to develop the product
Fifth, you'll undergo certifications and audits by RBI approved third parties
Sixth, you're app will be tested by officials at the NPCI
Seventh, Now you go live
Only after step 7, do you get to know if customers will buy your product.
Or if the entire effort goes to waste.
For those not in the know, I believe it's possible for NRIs with an Indian Bank account (NRE/NRO) to use UPI. https://m.economictimes.com/wealth/save/upi-for-nris-with-in... The list of countries are Canada, Singapore, UK, USA, UAE, Oman, Qatar, Saudi Arabia and Australia.
It is, but it’s a pain in the rear end to maintain that account. This is what happened. I had an NRE with icici. But kyc requirements kick in after some period during which the account is idle. This happened often, because I don’t use it when I’m in the US and my parents didn’t use it in India. Getting that unlocked was a bit of a process needing snail mail and identity documents. It wasn’t icici’s fault. They were s…
This has been the case for the past decade though, still no reason to keep money in India except pocket change for local expenses.
I simply gave my relationship manager an email with all the necessary docs. While very unsafe, it's convenient and a single point of failure. Also helps that I only have the equivalent of like 10k USD in the account.
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If 1000 dollars is your years salary then you should not visit india for a tour.
To many Indians, it is more than a year's income. As an Indian citizen resident in India, I wouldn't advise a friend to be carrying around 1k USD worth or INR in cash.
Excellent, and I love the idea. We (a community of 400+ founders in a small Bangalore community) were even discussing you guys a few days back. I have given this feedback earlier, too, but the copy sounds Ind-lish at most places. Your customers are going to be primarily non-Indian. It would be best to have a native speaker, such as an American, to review and re-write. I’m an Indian and have worked primarily with over…
I see where you are coming from. But, as an NRI, I found the writing authentic. Just like American English, English English, Australian English, it is Indian English. Nothing to be unproud of and criticized about.. I’d perhaps be happy to see translation options as Indian English, American, UK etc on a modern humorous tone :-)
Please go through the WebArchive of any successful Indian Startups (even the ones focused on Indians); they all eventually moved to a more Internationally better sounding English. We Indians can understand them and are not culturally nostalgic or patriotic about “Indian English.”
While we are at it, I guarantee that once they succeed, if not the founder of Cheq, the investors and/or external forces will force them to buy `Cheq.com.` I will be surprised if they are not thinking of getting that domain already.
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Once passport/visa expires, we're supposed to disable the account We'll have to verify the new documents and enable the wallet again.
But you intend to keep it around as a sort of not usable dormant account, but if re-verified the old funds, payment history etc. still available? I would hope so, because I think otherwise I wouldn't want to use it without OCI (i.e. a perpetual visa it's not an issue) - would just be an annoying thing to keep track of.
Your account balance and history will remain consistent and untouched.