Ask HN: Rate this Start Up - Venmo.com • Hacker News Board

Re: Ask HN: Rate this Start Up - Venmo.com

#11

Post by keltecp11 » Wed, Nov 18, 2009, 6:40 PM UTC

johnrob wrote: post #10

There are no transaction fees?

100% free

Re: Ask HN: Rate this Start Up - Venmo.com

#12

Post by chaosmachine » Wed, Nov 18, 2009, 6:41 PM UTC

It's a great idea, but in reality, it's going to be a very tough job to make it secure and legal. If you haven't read the PayPal chapter in "Founders at Work" yet, you should.

Re: Ask HN: Rate this Start Up - Venmo.com

#13

Post by keltecp11 » Wed, Nov 18, 2009, 6:41 PM UTC

Think about use for Political/Charity Fundraiser events... I think the product is very beneficial.

Re: Ask HN: Rate this Start Up - Venmo.com

#14

Post by aditya » Wed, Nov 18, 2009, 6:43 PM UTC

http://www.crunchbase.com/company/textpayme anyone?

Re: Ask HN: Rate this Start Up - Venmo.com

#15

Post by kirpekar » Wed, Nov 18, 2009, 6:44 PM UTC

Very cool & good luck! I hope you can bring down PayPal to their knees.

Re: Ask HN: Rate this Start Up - Venmo.com

#16

Post by marltod » Wed, Nov 18, 2009, 6:45 PM UTC

Have you thought about giving the option to link to paypal accounts?

Early adopters will not have venmo accounts but will have paypal accounts. You may get more new users if you give the option to use funds in the paypal account. The service could at minimum send the user an e-mail with a link to the paypal destination and amount.

Re: Ask HN: Rate this Start Up - Venmo.com

#17

Post by mtrimpe » Wed, Nov 18, 2009, 6:46 PM UTC

mikeryan wrote: post #5

What's the revenue model?

I love how this comment has no upvotes.

Re: Ask HN: Rate this Start Up - Venmo.com

#18

Post by [deleted] » Wed, Nov 18, 2009, 6:46 PM UTC

idleworx wrote: post #8

what happens if someone picks up your phone and writes venmo $100 to 555-123-4567 for hack. 555-123-4567 being their number? how can you issue a refund or deal with issues like this?

[deleted]

Re: Ask HN: Rate this Start Up - Venmo.com

#19

Post by DanielStraight » Wed, Nov 18, 2009, 6:47 PM UTC

aditya wrote: post #14

http://www.crunchbase.com/company/textpayme anyone?

Also:

https://www.paypal.com/cgi-bin/webscr?cmd=xpt/Marketing/mobi...

Re: Ask HN: Rate this Start Up - Venmo.com

#20

Post by vorador » Wed, Nov 18, 2009, 6:50 PM UTC

chaosmachine wrote: post #7

vorador wrote: post #6

I don't see the point here. I mean, I could pay Jenny back next time I see her. Am I missing something ?

Sending the SMS is instant, waiting until next time isn't.

And what does instant payment bring ? To me, it looks like a solution looking for a problem.