Feedback needed for a payments SAAS product
Hello hackers,
I am building an app that helps businesses use services where credit/debit cards are not supported. One basically connects to a card issuer which is prepaid with money and uses it open up account e.g stripe, amazon.
What am I solving: Businesses that launched in US,Europe but don't have a way to sign up for services like payments services,G-suite,stripe where local cards are rejected!
Issues with the idea:
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It can't be used for billing , payments . Our target is to a better stripe Atlas and to be the cheapest solution out there. But the card issuers only load a fixed amount, you can't reuse it for billing / on demand payments :(
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Trust issues, an indie fintech idea sounds ridiculous :(
Any thoughts advice?
I still don’t completely understand the use case / user problem sorry.
Is this for businesses based outside of the US / EU, who are incorporated in the US, EU, and don’t have access to US / EU credit cards, their local cards are not allowed etc?
Yes its for for businesses outside the EU/US and are not incorporated and local cards not supported to use services like stripe etc to receive payments
Ok cool. Then I think it’s a good idea, because this is a real problem, but the target market is quite specific (eg business owners requiring specific services in specific locations).
My approach would be to incorporate in EU or US, and use a solution like stripe’s new card provisioning product. Create ‘virtual’ credit card numbers, but have physical storefront or some alternative simple payment method in the supported locations that people can use to top up this card.
Thanks very much I faced this myself while I built my first product . Wow thanks for the advice one thing that am always curious about is how vitual cards work, like behind the scenes . Another thing now this has moved beyond bootstrapping .