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Can we make rental payment better: Expat app survey

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nakatago
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Re: Can we make rental payment better: Expat app survey

Postby nakatago » Tue, 20 Oct 2015 7:33 pm

keithwang wrote:You made several salient observations :)

I agree these are long-standing blockers (cost, barrier to entry, consumer mindset etc) to advancing digital payments. But I see an opportunity to create a more cost-agile and direct payment ecosystem (no mobile wallets, social media payments or intermediaries etc).

The technology to enable this isn't impossible and what's really important to me behind this concept, is to keep the product/service as lean but effective as possible. With regard to the technology stack, I briefly gave hints in the survey about the possible use of biometrics and Cloud analytics.

For a start, I'd keep user acceptance testing to a small group first. I think if we can't get 100 users to enjoy using a new service, it would be pointless to further develop for a 1000.


I'm not seeing it.

Biometrics is only for localized security. Cloud analytics, is well, just analytics. I don't see anything in your ideas how you are going to money around. Everything else you're describing is just vague generalities--lean, effective, cost agile, direct, no intermediaries.

For security, you'll have to conform to some standards and get certified---that costs money. Otherwise, you'll have a hard time convincing people to process payments. For moving money around, you can't without an infrastructure.

And because of these, you'll have a very difficult time getting your 100 users. The opportunity you're seeing isn't just there if you can't address the points I've raised.

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Re: Can we make rental payment better: Expat app survey

Postby keithwang » Wed, 28 Oct 2015 6:52 pm

nakatago wrote:
keithwang wrote:You made several salient observations :)

I agree these are long-standing blockers (cost, barrier to entry, consumer mindset etc) to advancing digital payments. But I see an opportunity to create a more cost-agile and direct payment ecosystem (no mobile wallets, social media payments or intermediaries etc).

The technology to enable this isn't impossible and what's really important to me behind this concept, is to keep the product/service as lean but effective as possible. With regard to the technology stack, I briefly gave hints in the survey about the possible use of biometrics and Cloud analytics.

For a start, I'd keep user acceptance testing to a small group first. I think if we can't get 100 users to enjoy using a new service, it would be pointless to further develop for a 1000.


I'm not seeing it.

Biometrics is only for localized security. Cloud analytics, is well, just analytics. I don't see anything in your ideas how you are going to money around. Everything else you're describing is just vague generalities--lean, effective, cost agile, direct, no intermediaries.

For security, you'll have to conform to some standards and get certified---that costs money. Otherwise, you'll have a hard time convincing people to process payments. For moving money around, you can't without an infrastructure.

And because of these, you'll have a very difficult time getting your 100 users. The opportunity you're seeing isn't just there if you can't address the points I've raised.


Thanks for the feedback!

Yes, my pal and I spent a long time trying to figure how this works in all aspects you mentioned. If you try to analyze each moving part without applying context to the greater end product goal, it does feel like a puzzle. What I can share with you is that we have a sense how this will evolve next.

However, I'm not in the best position to advise on technical insights and monetization here. We spoke to various individuals (engineers, VCs etc) and conclude that building a great product requires user/technical validation first. That is why our primary goal is to gather user feedback here, ideally a minimum of 100 responses before the sample size makes sense to us.

If you could facilitate this survey through your connections, I would love to keep you informed of further developments of this project :)

Here is the survey link again: https://docs.google.com/forms/d/1XweIQI ... g/viewform

Thanks Nakata.


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