Something new this way comes...Sneak Peak inside!

[Varius]

While I can't wait for this project I've been working on to launch, I figured I'd give you guys a little preview before the Costa Rica Bash so we'll have something to talk about

PaySaint.com

This isn't in Beta yet but should be Beta-ready and moved to its real network by next week. If you have any comments, ideas or just want more info feel free to hit me up. If you'd like to get in on Beta once it's ready, let me know also.

What makes us different than say Payoneer or ePassporte? We have the ability to fund from and withdraw to local bank accounts in 37 countries worldwide (and that's just to start).

For example, let's say you live in Estonia. You have $500 sitting in your PS account. You could add your local Estonian bank account and then request a withdrawl to it and receive your money in LESS THAN 24 HOURS! In some countries, its as fast as 10-20 minutes.

Anyhow this was supposed to be a sneak peak not a sales pitch (yet!) so I've said enough, check it out if you feel like it

[RK]

I’m surprised there have been no responses to this yet.
The fees look reasonable and the countries list is great.

The determining factor is ease and speed of transfers, which remains to be seen.

[Varius]

Originally Posted by RK

I?m surprised there have been no responses to this yet.
The fees look reasonable and the countries list is great.

The determining factor is ease and speed of transfers, which remains to be seen.

Indeed and we are working hard with our banking partners to make sure the transfer process is smooth, quick and as error-free as it can be (with banks, there might always be a delay here or there of course).

Basically the first time you add a new bank account, there will be a paypal-like process of confirming two random micro amounts to prove the account is yours. That should help as from that point forward we know the account information is good, making transfers quicker at the bank level.

Withdrawing though I can state is supposed to be a less than 24 hours process. Funding is a little longer as we have to confirm the money as received to credit the account, but still should be much faster than wire, which from our own experiences with epass and others sometimes takes up to two weeks to finally get credited to our account.

[fuzebox]

Yayyy so it's official

Can't wait to beta.

[MaDalton]

well, it looks nice... but: for me the withdrawel to a bank account is the most important feature - otherwise it's unusable for biz transactions. and with your system that would cost me $100 per wire while Epass is $50 and Paypal is free.

[fuzebox]

Originally Posted by MaDalton

well, it looks nice... but: for me the withdrawel to a bank account is the most important feature - otherwise it's unusable for biz transactions. and with your system that would cost me $100 per wire while Epass is $50 and Paypal is free.

As far as I know you're not really supposed to use the wire option, the advantage of PaySaint is their direct bank transfer features.

[MaDalton]

Originally Posted by fuzebox

As far as I know you're not really supposed to use the wire option, the advantage of PaySaint is their direct bank transfer features.

ok, but my standard business case is:

people pay me for content by epass, paypal or whatever and i transfer the money to our business bank account. because we are nice people and pay taxes. and for that i see no other option than the wire with a fee of $100

i'm sure it's a good system with nice features - but thats too expensive for me, imho

[Persius]

Looks interesting i will look into it once its official

[fuzebox]

Originally Posted by MaDalton

ok, but my standard business case is:

people pay me for content by epass, paypal or whatever and i transfer the money to our business bank account. because we are nice people and pay taxes. and for that i see no other option than the wire with a fee of $100

i'm sure it's a good system with nice features - but thats too expensive for me, imho

Yes I know what your business case is, you're missing the point of this system. You use the "withdraw funds" option (paying $5 - $16.50) and the funds are transferred to your bank account, and you pay taxes on the income like a nice person. There are no debit cards. "Wire transfer" implies using SWIFT codes and all that whereas this is more like the ACH system american banks use (like when you withdraw your funds via paypal). The advantage of Paysaint is that they support it in a shit ton of countries.

ICQ Varius or something, you've got the service all wrong

[Dave PSC]

Great idea

[Varius]

Originally Posted by fuzebox

Yes I know what your business case is, you're missing the point of this system. You use the "withdraw funds" option (paying $5 - $16.50) and the funds are transferred to your bank account, and you pay taxes on the income like a nice person. There are no debit cards. "Wire transfer" implies using SWIFT codes and all that whereas this is more like the ACH system american banks use (like when you withdraw your funds via paypal). The advantage of Paysaint is that they support it in a shit ton of countries.

ICQ Varius or something, you've got the service all wrong

Thanks for explaining it for me

The wire option is offered in case you wish to use it because your country is currently not supported, but otherwise, there would be no reason not to witdhraw it directly to your local bank account (which yes, you'd pay taxes on like a good boy). Anyhow hit me up if you have more questions

One correction to Fuze's post, there will be debit cards, just not for initial Beta launch.

[Mike Semen]

Very interesting. I will definitely be able to use this.

[DateDoc]

Nice to see the semi-official announcement. I managed to keep my mouth shut for a while on this one.

[starpimps]

interesting indeed

[Varius]

Originally Posted by DateDoc

Nice to see the semi-official announcement. I managed to keep my mouth shut for a while on this one.

Well I figured since people might already be seeing PaySaint.com as a sponsor of both the Bash and Phoenix Forum, a tiny thread to let them know what's coming soon wouldn't hurt

[GrouchyAdmin]

If utilized/sold to a certain degree, does it come with leopard pants? This is a negating factor for me.

[MaDalton]

Originally Posted by Varius

Thanks for explaining it for me

The wire option is offered in case you wish to use it because your country is currently not supported, but otherwise, there would be no reason not to witdhraw it directly to your local bank account (which yes, you'd pay taxes on like a good boy). Anyhow hit me up if you have more questions

One correction to Fuze's post, there will be debit cards, just not for initial Beta launch.

ah, ok, now i understand. in that case it surely looks good

[Diligent]

Wow.. looking good!

Hopefully both most companies and most affiliates will realize what a good option this would be for payouts...

[Vendot]

Looks good........ will this thing be based out of Costa Rica?

Im thinking of how this service will interact with the global scene

[MVTCash]

very cool! will have to check ya out!

[Varius]

Originally Posted by vendot

Looks good........ will this thing be based out of Costa Rica?

Im thinking of how this service will interact with the global scene

The "upper management" will, however the service is partnered with banking institutions across the world and there will be support in the various countries providing support in local languages. We have bank accounts across all countries we support and many banks, so the money is not all in one place either.

Initially the datacentre will be in Canada but as we expand we will likely geo-replicate internationally.

So in reality, it is globally-based pretty much

[Varius]

Originally Posted by GrouchyAdmin

If utilized/sold to a certain degree, does it come with leopard pants? This is a negating factor for me.

Ha, what if they were pre-worn (by yours truly) ??

[Varius]

Originally Posted by Diligent

Wow.. looking good!

Hopefully both most companies and most affiliates will realize what a good option this would be for payouts...

We have already been in talks with a few major programs and even a few processors who are ready to come on board as soon as we launch - so our hope is we will be used a fair bit in a short time

Obviously, if no programs offer us, no affiliates will want an account and vice versa - so our goal is to acquire both types of clients at the same time.

[Diligent]

Originally Posted by Varius

We have already been in talks with a few major programs and even a few processors who are ready to come on board as soon as we launch - so our hope is we will be used a fair bit in a short time

Obviously, if no programs offer us, no affiliates will want an account and vice versa - so our goal is to acquire both types of clients at the same time.

Sound thinking...

This will be *excellent*!! Great job man