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Yes, but if you write an app that helps me get a cab, you get a share from that one business with the cab and me. You don't get a share of the next 100 cabs I u
by erikb 10y ago
Yes, but if you write an app that helps me get a cab, you get a share from that one business with the cab and me. You don't get a share of the next 100 cabs I use or the next 100 customers the cab gets without your app.
The service you provide should be paid well. But recurring income without telling any side of the business may even be illegal.
- jermaustin1 10y ago>But recurring income without telling any side of the business may even be illegal. I am still very confused by your meaning. If you could expand it further, that would help me possibly better get my point across. I think there may be a miscommunication.
- erikb 10y agoLook, you have a payment processor A and implement it in website of business B. You take a share of all the trades, have I understood that correctly? And you didn't tell either company A or B about it? I think that is probably stealing money. Don't wonder if one side figures that out that they sue you.
- jermaustin1 10y agoOh, I understand now. If your small business goes to Stripe/Square/etc you will be quoted a 3% + 30cents transaction fee. By pushing volume through them, they lower your transaction fee. As far down as 2% + 0cents. This would allow you to add value while profiting from the spread. And to your stealing money comment, all business is stealing money. You take a service that is less than you sell it for. If you were doing it any other way, you wouldn't be in business for long.