Noca - Payments Simplified • Hacker News Board

Re: Noca - Payments Simplified

#11

Post by citricsquid » Mon, Sep 12, 2011, 5:27 AM UTC

god damnit no. the issue is NOT rates, the issue is NOT security, the issue is NOT how "nice" the company is, the issue IS international support.

Paypal are "winning" and will forever "win" because they support EVERYONE. Finding a person who can't use Paypal (who is over the age of 18 and isn't a previously terminated customer) is very hard because it supports (almost) EVERYONE yet these "new" "paypal killers" don't and they won't gain any traction because of this.

and even then there are still bigger issues, but the biggest issue is international support.

Re: Noca - Payments Simplified

#12

Post by dr_ » Mon, Sep 12, 2011, 5:27 AM UTC

At a 3.49% credit card rate, I'm not sure how much of a real competitor it is. No fixed fee helps for smaller sized transactions though.

Re: Noca - Payments Simplified

#13

Post by callmeed » Mon, Sep 12, 2011, 5:29 AM UTC

thinkcomp wrote: post #6

I know PJ, who runs Noca. He's been working on it for several years (it used to be called Paybl). Unfortunately it suffers from the same problems as every other payment system in California that is regulated by the Money Transmission Act, which is to say it's basically illegal as of July 1. Then again, maybe he's changed the business model in some way I'm not aware of. See... http://www.quora.com/Aaron-Greenspan/In-F…

Interesting. If that's truly the case, I'd try and shop this to a bank (Chase?) that could help clear those hurdles and let them run like a startup still.

Re: Noca - Payments Simplified

#14

Post by rshm » Mon, Sep 12, 2011, 5:29 AM UTC

Yay !! for micro payments.

3.49 is too much for large transactions.

Re: Noca - Payments Simplified

#15

Post by thinkcomp » Mon, Sep 12, 2011, 5:30 AM UTC

callmeed wrote: post #13

thinkcomp wrote: post #6

I know PJ, who runs Noca. He's been working on it for several years (it used to be called Paybl). Unfortunately it suffers from the same problems as every other payment system in California that is regulated by the Money Transmission Act, which is to say it's basically illegal as of July 1. Then again, maybe he's changed the business model in some way I'm not aware of. See... http://www.quora.com/Aaron-Greenspan/In-F…

Interesting. If that's truly the case, I'd try and shop this to a bank (Chase?) that could help clear those hurdles and let them run like a startup still.

Never going to happen. Chase just launched its first person-to-person payment platform. It's terrible. Despite being for Chase customers only, it's not even real-time.

How long did it take them to build it post-PayPal you might ask?

Twelve years.

Re: Noca - Payments Simplified

#16

Post by BasDirks » Mon, Sep 12, 2011, 5:32 AM UTC

citricsquid wrote: post #11

god damnit no. the issue is NOT rates, the issue is NOT security, the issue is NOT how "nice" the company is, the issue IS international support. Paypal are "winning" and will forever "win" because they support EVERYONE . Finding a person who can't use Paypal (who is over the age of 18 and isn't a previously terminated customer) is very hard because it supports (almost) EVERYONE yet these "new" "paypal killers" don't…

Can't send money to a Russian friend over PayPal.[1]

[1] http://profy.com/2011/08/30/paypal%E2%80%99s-epic-fail-in-ru...

Re: Noca - Payments Simplified

#17

Post by pitdesi » Mon, Sep 12, 2011, 5:37 AM UTC

PayPal does a number of things (stored value system, aggregation, virtual terminal, etc). I'm not sure how Noca is a competitor at all. Also, this page has a number of inaccuracies. For example, chargebacks don't exist for checks, Authorize.net as a standalone doesn't enable payments at all (it is a gateway, you also need a merchant account, which you could get cheaper than at Noca), etc. It does NOT take months to sign up with Authorize.net, you can get setup in an hour.

Noca is relevant if it is somehow 3.49% for all transactions though... It would make it a cheap option for transactions <$10 or so.

Re: Noca - Payments Simplified

#18

Post by dangrossman » Mon, Sep 12, 2011, 5:39 AM UTC

citricsquid wrote: post #11

god damnit no. the issue is NOT rates, the issue is NOT security, the issue is NOT how "nice" the company is, the issue IS international support. Paypal are "winning" and will forever "win" because they support EVERYONE . Finding a person who can't use Paypal (who is over the age of 18 and isn't a previously terminated customer) is very hard because it supports (almost) EVERYONE yet these "new" "paypal killers" don't…

The #1 issue to hit "live chat" support on my sites is potential customers in Pakistan hitting a roadblock because they can't use PayPal. There are over 60 countries where PayPal is not available.

Re: Noca - Payments Simplified

#19

Post by rorrr » Mon, Sep 12, 2011, 5:41 AM UTC

res0nat0r wrote: post #8

What about Amazon Payments? Is that a good Paypal alternative?

2.9% + $0.30 for transactions above $10

So it's exactly the same costs.

Re: Noca - Payments Simplified

#20

Post by hnbla » Mon, Sep 12, 2011, 5:41 AM UTC

I've never seen the purpose of paypal or the like. What's wrong with direct wire transfer to an IBAN account.

* Within the country it's free.

* Within EU it's basically free.

* You can easily include messages, codes, invoice-nrs etc.

* It's included with almost any normal bank account.

* It's safe, same safety as signing in at your internet bank - because that's exactly what you're doing.