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It's extremely cheap to process payments when you're off the credit card rail, and the security costs can be mitigated down to very, very minimal amounts. Our m
by tomasien 13y ago
It's extremely cheap to process payments when you're off the credit card rail, and the security costs can be mitigated down to very, very minimal amounts. Our model is the same as SaaS and will be extremely profitable while reducing the cost of processing payments by 85%-95% (and for some processing very low cost items primarily, as much as 99%). I'd love to talk more about this if your'e interested. tommy@thecityswig.com
- PeterisP 13y agoA fee of a cent or so per transaction can be reasonable and profitable, if you go on a really large scale, then maybe a fraction of a cent. I was sceptical about the no-fee concepts or micropayments that would require fees below $0.0001/txn or so. Security costs are nontrivial depending on which markets you serve (and any 'winning' solution must serve all or most of them) - any system will have some rate of fraudulent payments, and at least in EU, any service provider will be liable for some of that - they'll have to refund their customers who were defrauded by someone else, get stolen credentials, etc.
- tomasien 13y agoMaybe! That is something we will consider, but I guess the point is it's ESSENTIALLY fee-less. We're looking at a SaaS pricing model.