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That's a fair point. Sorry I didn't mean to come accross as attacking you I'm just confused by the business model in general.
by jklein11 12y ago
That's a fair point. Sorry I didn't mean to come accross as attacking you I'm just confused by the business model in general.
- jkaunisv1 12y agoThis is absolutely not my area of expertise, but if I had to guess: * Spend a fairly fixed amount of money developing the app and related infrastructure * Keep a slush fund for covering loans * Potential customer provides their bank account info, run it through a risk analysis program * Have a human approve or deny the customer based on that program's results * If approved, give them some coaching & onboarding training * Largely ignore the customer unless they go in arrears, make $12/month for your SaaS offering Note that monthly cost isn't much different from something you'd pay for a Shopify store, say. And they have very high touch onboarding in some cases.
- jklein11 12y agoShopify makes their money on the transactions and their pricing model scales up to $180 per month. I honestly believe that this is an MVP and the "Pay Boost" might being interest free after they figure out how to conquer the regulator hurdle of loaning money.