haydentiff
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Post by haydentiff on Jan 25, 2015 9:41:29 GMT -5
Video in post 3 still seems to work for me. Yes, I am going to be the BAD GUY for these posts. Sorry. That's not the top secret video. The original video caused confusion. I posted that one to see if it helped clarify anything, although that video only has one message. And that might be what the problem is -trying to explain more than one thing at a time. I don't know. I've got to think about all of these comments. I will delete that video too.
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haydentiff
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Post by haydentiff on Jan 25, 2015 9:46:28 GMT -5
The business plan shows which quarter we plan to start generating income. It's not for over a year. Massive user adoption is the goal for the first year. The app is free. Payment processing will ALWAYS be free. Once we have a large user base, we will offer premium services for merchants -like push marketing, coupon tracking, etc. There is actually a really long list of ways to monetize the app (while still keeping basic services free.). I'm not that trusting. Without deeper information, which I'm assuming you you won't/can't be giving in a minute, I'd assume your idealism is not sustainable. I've been in more than one situation where 'free' tuned into something else down the line. I also think that the person who quoted a friend about the currency issues is worth review. Maybe I'm odd man out, but alternate currencies do not interest me. I actually would go out if my way NOT to associate with Bitcoin.You don't have to use Bitcoin or any other alternative currency. We offer instant, cross-currency conversions. There are people in the crypto world that will be happy to be able to use Bitcoin anywhere they want, and there will be people happy to send the money they earn in the U.S. back "home" to their family in India without paying an exorbitant amount of fees.
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haydentiff
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Post by haydentiff on Jan 25, 2015 9:49:38 GMT -5
But maybe i'm just skeptical, whenever I see free, or zero ...i think so how do you make your money? What's the catch? Yep. It's the first thing everyone asks. We plan on using the "freemium" model -charging for upgraded services.
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Deleted
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Post by Deleted on Jan 25, 2015 9:50:02 GMT -5
I pay Western Union for a service though. Again, I am skeptical of free service. I like to know up front how people are getting paid. I may be a minority...
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haydentiff
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Post by haydentiff on Jan 25, 2015 9:52:30 GMT -5
I pay Western Union for a service though. Again, I am skeptical of free service. I like to know up front how people are getting paid. I may be a minority... No, you're definitely not. It's the first thing everyone asks.
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Deleted
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Post by Deleted on Jan 25, 2015 9:58:48 GMT -5
I suspect that might end up being an issue.
Your pat comment about the freemium plan isn't terribly inspiring unfortunately. Mass user adoption followed by massive changes in what is 'free' is unfortunately not a new or unknown startup plan.
I don't mean to be negative. But I can't say that I would be inspired to pursue at this point (blog and video etc...).
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haydentiff
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Post by haydentiff on Jan 25, 2015 10:06:29 GMT -5
I suspect that might end up being an issue. Your pat comment about the freemium plan isn't terribly inspiring unfortunately. Mass user adoption followed by massive changes in what is 'free' is unfortunately not a new or unknown startup plan. I don't mean to be negative. But I can't say that I would be inspired to pursue at this point (blog and video etc...). It's not an issue for VC's as this is pretty standard right now. It will be an issue for users.
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Deleted
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Post by Deleted on Jan 25, 2015 10:18:51 GMT -5
Ok then. Lol. I guess as long as you get some VC you can ride this along for 3 years or so at least.
I guess I don't understand VC. I would think if you might have trouble getting users, and your plan required mass user adoption, then I might question your plan. But, there is probably a reason I'm not involved in the venture capital game.
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haydentiff
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Post by haydentiff on Jan 25, 2015 10:25:14 GMT -5
Ok then. Lol. I guess as long as you get some VC you can ride this along for 3 years or so at least. I guess I don't understand VC. I would think if you might have trouble getting users, and your plan required mass user adoption, then I might question your plan. But, there is probably a reason I'm not involved in the venture capital game. I don't think I phrased my reply the right way. Using the "freemium" model isn't anything new or scary to VC's. Our ability to gain mass adoption is ABSOLUTELY what they will be questioning.
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haydentiff
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Post by haydentiff on Jan 25, 2015 11:02:16 GMT -5
I pay Western Union for a service though. Again, I am skeptical of free service. I like to know up front how people are getting paid. I may be a minority... Aside from charging for our app, is there something that we could do that would ease your concerns?
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Deleted
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Post by Deleted on Jan 25, 2015 11:03:34 GMT -5
I'll think about it. And read some more.
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haydentiff
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Post by haydentiff on Jan 25, 2015 11:04:17 GMT -5
I'll think about it. And read some more. Thank you.
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Formerly SK
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Post by Formerly SK on Jan 25, 2015 13:31:38 GMT -5
I haven't watched your videos or read your links. That said, from this thread it seems like you are not very targeted in your approach. Your product may be able to eliminated 50 quadrillion in fees and reform the entire payment industry, but that is just too big and meaningless as a sales pitch. I would focus on one aspect and really target how that one thing can help one specific person with once particular aggravation. Let them clearly see how your product improves their life. People eat at McDonalds because it's cheap and convenient. The fact that raising all those cows for butchering is destroying rainforests in South America is disturbing, but it isn't useful for someone racing home from work at 6:30 with three hungry kids who just wants to get them fed. Your sales approach (at least per this thread) is focusing on the global problem, not the individual problem. I don't know that you'll win customers with the global argument. Also, your enthusiasm and catch phrases are somewhat of a putt-off. If I were a VC, I would want rational analysis. As a potential customer, I'd want a logical bullet point list of how it works. To a minor degree, all the cutsy words and pie in the sky rhetoric makes me suspicious. It's reminds me of MLM speak. JMO and YMMV. I do wish you all the best in your endeavor.
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haydentiff
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Post by haydentiff on Jan 25, 2015 13:45:13 GMT -5
What are our catch phrases? "Never pay to process another payment again"?
For users, our earliest adopters will be ages 21-30 earning under 100k. That's where we start.
For merchants, they are already contacting us like crazy. It's the users that are going to be tricky.
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haydentiff
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Post by haydentiff on Jan 25, 2015 14:43:53 GMT -5
Well, this was really helpful. Thank you, everyone.
We're going to tighten up the text for the video, but mostly leave it the same. This particular video is aimed at the investors who approached us, riding off the success of the event. We have a significant amount of people already signed up to be beta testers and ~7.5k followers on Twitter. They understand what we're working on, and hopefully this video will get them amped up.
After that, it's clear that we need to simplify things much, MUCH more. The 30 and over crowd is going to be tough.
If anybody has any suggestions on what our app could offer that you would find helpful/useful, I'm all ears. Anytime.
Thanks again!
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haydentiff
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Post by haydentiff on Jan 25, 2015 14:44:34 GMT -5
I'm keeping the store, but transitioning to a heavier focus in online sales. I'm also looking for a job right now.What kind of job?
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Deleted
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Post by Deleted on Jan 25, 2015 14:47:49 GMT -5
Can you explain why the over 30 crowd is going to be tough?
Do you mean simplify from the first video? Or second?
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Lizard Queen
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Post by Lizard Queen on Jan 25, 2015 14:53:33 GMT -5
What are our catch phrases? "Never pay to process another payment again"? For users, our earliest adopters will be ages 21-30 earning under 100k. That's where we start. For merchants, they are already contacting us like crazy. It's the users that are going to be tricky. Yeah, I was going to say that you're going to have to go after the younger crowd. I'm old, and I like that I can use my CC for everything and make cash back. It's a model where I don't really worry about how much I have in any particular account. You know what would be cool, is pairing it up with ynab or something along those lines. According to your predetermined budget, you can spend this much on this sort of thing and...there you go--done and automatically into ynab it goes.
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haydentiff
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Post by haydentiff on Jan 25, 2015 15:07:52 GMT -5
What are our catch phrases? "Never pay to process another payment again"? For users, our earliest adopters will be ages 21-30 earning under 100k. That's where we start. For merchants, they are already contacting us like crazy. It's the users that are going to be tricky. Yeah, I was going to say that you're going to have to go after the younger crowd. I'm old, and I like that I can use my CC for everything and make cash back. It's a model where I don't really worry about how much I have in any particular account. You know what would be cool, is pairing it up with ynab or something along those lines. According to your predetermined budget, you can spend this much on this sort of thing and...there you go--done and automatically into ynab it goes.Excellent idea!
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Deleted
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Post by Deleted on Jan 25, 2015 15:11:50 GMT -5
I guess I don't understand what benefit you offer that age group. Maybe I'm still confused. I missed the first video. The second video means nothing to users, just merchants. Or were you talking about merchants in that age range?
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Loopdilou
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Post by Loopdilou on Jan 25, 2015 15:12:32 GMT -5
You should definitely hire him. He already sold it to me. On both sides (user and merchant). I am genuinely excited about what this could mean for nonprofits (like the one I work for). Some of our processors are charging way over the typical 3.5% when you consider the per transaction fee and yearly fee. I think I saw an event tickets option? Please kill Eventbrite. It's practically an extortion racket.
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Deleted
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Post by Deleted on Jan 25, 2015 15:14:46 GMT -5
For instance, you make this claim on the website: 'Casheer payments are faster, more secure and cheaper than using a card.'
In what way?
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Deleted
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Post by Deleted on Jan 25, 2015 15:17:56 GMT -5
You should definitely hire him. He already sold it to me. On both sides (user and merchant). I am genuinely excited about what this could mean for nonprofits (like the one I work for). Some of our processors are charging way over the typical 3.5% when you consider the per transaction fee and yearly fee. I think I saw an event tickets option? Please kill Eventbrite. It's practically an extortion racket. Are you suggesting your nonprofit would then revert to handling their own sales again and use casheer to process ticket payments?
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Loopdilou
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Post by Loopdilou on Jan 25, 2015 15:18:43 GMT -5
Can you PM me the video? And I'm the over 30 crowd. One of the nonprofit donation websites makes either the user or the nonprofit pay the processing fee, so either the user gets screwed or the nonprofit does. Which is BS. I would love to a) make donations that don't force me to make this choice and b) pay merchants without feeling guilty for not using cash because I know how much it costs them. Just imagine small business owners who are currently forced to have a minimum purchase amount to cover their ridiculous fees. This eliminates that.
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haydentiff
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Post by haydentiff on Jan 25, 2015 15:20:02 GMT -5
For instance, you make this claim on the website: 'Casheer payments are faster, more secure and cheaper than using a card.' In what way? Our financial system was built on pre-internet rails. It's slow, expensive, and not very safe. Data breaches are happening regularly. With Casheer, your payment information is never stored or sent during payment, so there’s nothing for a hacker to steal that could be used to defraud you.
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Deleted
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Post by Deleted on Jan 25, 2015 15:20:21 GMT -5
Why use eventbrite? Why not just handle your own marketing/sales?
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Loopdilou
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Post by Loopdilou on Jan 25, 2015 15:20:27 GMT -5
You should definitely hire him. He already sold it to me. On both sides (user and merchant). I am genuinely excited about what this could mean for nonprofits (like the one I work for). Some of our processors are charging way over the typical 3.5% when you consider the per transaction fee and yearly fee. I think I saw an event tickets option? Please kill Eventbrite. It's practically an extortion racket. Are you suggesting your nonprofit would then revert to handling their own sales again and use casheer to process ticket payments? In a second.
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Formerly SK
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Post by Formerly SK on Jan 25, 2015 15:22:02 GMT -5
What are our catch phrases? "Never pay to process another payment again"? For users, our earliest adopters will be ages 21-30 earning under 100k. That's where we start. For merchants, they are already contacting us like crazy. It's the users that are going to be tricky. For starters, "Top secret, self destructing link." JMO
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Peace Of Mind
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Post by Peace Of Mind on Jan 25, 2015 15:22:29 GMT -5
For instance, you make this claim on the website: 'Casheer payments are faster, more secure and cheaper than using a card.' In what way? As an older person that's what I was wondering too. I'm not a merchant and don't use PayPal, etc. but if I could find a product that allowed me to shop online anywhere I wanted without worrying about fees and being hacked I'd be open minded to it. After all the breaches of large store cards and other credit cards recently I would think that would be very important to mention how they are more secure/safe to use. I also still don't get how the VCs get their money back or how you all earn your salaries once this takes off. I get that VCs own equity in the company but they front the money. Where does the actual monies come from after that? Advertisers? ETA: I think you've answered some of my questions while I was typing but how does this part work? "With Casheer, your payment information is never stored or sent during payment, so there’s nothing for a hacker to steal that could be used to defraud you." How are we identified when we use your product?
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Deleted
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Post by Deleted on Jan 25, 2015 15:22:58 GMT -5
Using a credit card is not slow. I pay nothing for it, so it's not expensive. And I've never had a breech that wasn't immediately caught and for which I wasn't held culpable. Chip and pin is even safer.
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