Interesting innovation @Light. My questions have been asked and answered. Wishing you all the best!
How do you hope to manage scale? If you started processing, say, N50M worth of cards daily for various micro payment services, how is that going to affect payouts, being that you have to sell off the airtimes in order to get the money to pay out? Is it going to be a problem?
@Obi_Ik We donāt wait to sell off the airtime to make payouts. We make payouts with our own money then sell off the airtime to reimburse ourselves.
Hmmmā¦ And if, for some sheer stroke of bad luck, Government policies decides to throw an axe at one of your telcosā¦ and renders the cards nullā¦
Perhaps I have, too much of a bad imaginationā¦
@gabe Tough luck then. Itās called the cost of doing business.
But with the way we plan to approach selling the cards, Iām sure we would have already pushed out enough of it for it to make much difference.
I think this payment system will be cool with buying App on Google play store, IOS App store etcā¦
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I like this. It has huge potential especially among lower class people. Need some more work (as all products/services do) and I hope that will happen
@kingamaz If you can tell us which area you think need more work, thatāll be really helpful.
I love ur ideaā¦its coolā¦ Hope u wonāt mind a competitorā¦
@Light So far, youāve nailed it. Itās a brilliant execution. I wish you the best.
@simply_yomi Competitors are great. They always keep you on your feet, making you the best you can be. Laziness crawls in when youāre a monopoly.
@GabEsu Thanks man.
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Please correct me if Iām wrong: You take 30% and give the merchant 70%??? according to your website.
This, my friend, is where I think you should start fromā¦ 30-flipping-percent
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@Light; Restricted services?
Unfortunately, Paysob cannot be used to accept payments for services which are related to adult content, gambling or lotteries.
Iām assuming thatās where you would have a major market. Or is this Service Feature just there to occupy space on the Landing Page?
A mobile responsive website would be a bonus too. Not a fan of zoom-in/out.
@kendysond, @gabe Yes, we currently only payout 70% to merchants. I know it doesnāt seem like much and weāre working to increase payouts. But at the moment we donāt have a choice. We donāt actually get to keep the other 30%. What we keep is around 5%. The other 25% is for the people who convert the recharge cards to cash so we can pay the merchant back in cash. But weāre still working to increase the merchantās share.
@MrASulaiman The restricted services is for compliance. With regards to a mobile responsive web, itās on the to-do list. Together with SSL. Weāve just not gotten that far yet.
A VAS Service you just built, i suggest u integrate with all 5 Telcos immediately! then using that u can onboard merchants for micro payments or other forms of payments.
Partnerships: Zoto , Paga n co are there u can see how you work similarly with them using shared services
Biz Model: 30% is much, e-merchants may cringe so say a 20% then explain where the money actually goes so there is enough paying options.
Market: 70 million underbanked people currently in Nigeria and over 130 million mobile lines actively recharging, although internet users are given as 90 million or so, how many recharge via USSD and App currently? you have a market now u need to figure out ur demographics and use which will range from underbanked to medium class citizens and target merchants working with them, u can onboard merchants in all universities in Nigeria.
Oya i dn give u small thought, time to work on that
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@Freshboi_Ekundayo You raised some valid points. Iāll look into them asap.
Wowā¦ !!! It finally been implementedā¦ This is great bro Thumbs Up
As you go on, you will realize what your users need and even anticipate what they will likely need, so my statement is not only to say I already see things that need work.
But to your request, the flaw with your system is the loading of recharge cards (for huge transactions) as pointed out by a lot of people. Maybe a tie in to pay using credit card (for other sophisticated users) will not be a bad idea. Maybe
If u need help in integration with the Telcos, i can help with that, send me a private mail lets discuss.
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