The way we intend to make money is off of merchants in the future. -> Is this on the website? Couldn't see it anywhere and that makes it a big nono for me
No, the landing page communicates customer fees (which are 0 for peanut to peanut flows and pass through for banking flows). We're very transparent with any FX or fees users experience.
I'm not quite sure I understand the logic of mentioning future merchant monetization plans on the landing page?
Currently merchants get kind of shafted by VISA/Mastercard. Not only do they have to wait until they get their funds (sometimes even up to two weeks!), which is horrible for a business where cash flow is important, margins low and float very tight; they also pay huge fees on top!
Depending on geo, these fees can go from 1-3% (total) to >6-8% in geos like Argentina and Brazil (and even worse in some other places). That's insane.
Whilst stablecoin & blockchain adoption is not fundamentally impossible for Visa/MC (see this post for more info https://x.com/uwwgo/status/1973038511897923848), it is still a very long way off, and we expect to be very competitive, especially with sovereign nations pushing their own alternatives that we interoperate with (PIX, Mercadopago, DUITNOW, MB WAY etc)
Well, as a potential end customer, I want to know why I can trust you. You product is free, and you're handling my money. You telling me your revenue model is through merchants gives me the confidence you're not gonna pull me a weird one.
Could be as simple as "But how do you make money then" in the FAQ.
montenegrohugo|5 months ago
I'm not quite sure I understand the logic of mentioning future merchant monetization plans on the landing page?
montenegrohugo|5 months ago
Currently merchants get kind of shafted by VISA/Mastercard. Not only do they have to wait until they get their funds (sometimes even up to two weeks!), which is horrible for a business where cash flow is important, margins low and float very tight; they also pay huge fees on top!
Depending on geo, these fees can go from 1-3% (total) to >6-8% in geos like Argentina and Brazil (and even worse in some other places). That's insane.
Whilst stablecoin & blockchain adoption is not fundamentally impossible for Visa/MC (see this post for more info https://x.com/uwwgo/status/1973038511897923848), it is still a very long way off, and we expect to be very competitive, especially with sovereign nations pushing their own alternatives that we interoperate with (PIX, Mercadopago, DUITNOW, MB WAY etc)
jlengrand|5 months ago
Could be as simple as "But how do you make money then" in the FAQ.