DigiliraPAY - Blockchain Payment Gateway

[srknbyr]

Hello,

I am Serkan, founder of Digilira. We are running Turkish Lira Payment Gateway on the Waves Blockchain since 2017. We are now building a blockchain payment gateway.

We are going live soon with the biggest mother and baby products chain of stores in Turkey (ebebek). Our first vertical is to grow and expand in e-commerce market. We are planning to go worldwide in 2021.

Here is the payment screen and mobile application synchronized demo: https://www.youtube.com/watch?v=GVeVAL3fpEM

Here is the process of an e-commerce solution: https://www.youtube.com/watch?v=AvzNjHFkW4k

All comments are Welcome!

Best,

[ChuckBuck]

Everything is perfect! It can compete with any other payment gateway. But I think it should be integrated with even more currencies. And the information about the current price of the currency, the fee to pay should also be listed in detail, it is part to be more reliable. However, the videos above only describe the process and testing, you should have more detailed introduction videos about this application on the phone, it is also an important part.

[srknbyr]

Everything is perfect! It can compete with any other payment gateway. But I think it should be integrated with even more currencies. And the information about the current price of the currency, the fee to pay should also be listed in detail, it is part to be more reliable. However, the videos above only describe the process and testing, you should have more detailed introduction videos about this application on the phone, it is also an important part.

Thank you for the feedback!

- Our mobile wallet is going to be non-custodial wallet. But, we will have some control on the tokens through smart assets, smart accounts and smart contracts.

- We will start with Bitcoin, Ethereum, Litecoin and Waves for payments. We are planning to support other cryptocurrencies later. Our customers will be able to shop on the most common e-commerce web sites, and pay 0% commissions on their transactions.

- To do that, we will cover the costs for transactions.

- We are going to show the information about the recent prices and conversion rates. (Thank you for reminder)

- Creating instructional videos are really important. We will record other videos like how to use our application.

[SFR10]

- We will start with Bitcoin, Ethereum, Litecoin and Waves for payments. We are planning to support other cryptocurrencies later. Our customers will be able to shop on the most common e-commerce web sites, and pay 0% commissions on their transactions.

- To do that, we will cover the costs for transactions.

How about the e-commerce website "owners fee" for using your payment gateway? Any withdrawal limits and can they receive it to any address that they own or not?
^{- It looks nice and in regards to your website, I hope you end up creating an English version as well...}

[srknbyr]

How about the e-commerce website "owners fee" for using your payment gateway? Any withdrawal limits and can they receive it to any address that they own or not?
^{- It looks nice and in regards to your website, I hope you end up creating an English version as well...}

We are going to get 3% of commission for each payment transaction from the merchant. We will convert crypto into fiat and send fiat money to the merchant.

We will send fiat money to the merchant one day after purchase with crypto. If customer returns items then we will refund fiat backed Turkish Lira token to the customer.

We want to start within Turkey in 2020 and expand to Mena region and Europe in 2021.

[bL4nkcode]

We are going to get 3% of commission for each payment transaction from the merchant. We will convert crypto into fiat and send fiat money to the merchant.

3% is too high for sure, even bigger company's fee such coinpayments doesn't even reach 1% for fee on every transaction, and even bitpay just charge something like 1%.
 
If your purpose is to get more sales other than to get more merchants to use your service that's why you have such fees then I don't think you will succeed considering you're only new in the industry, while there are already reputed services the same as yours.

[SFR10]

We are going to get 3% of commission for each payment transaction from the merchant. We will convert crypto into fiat and send fiat money to the merchant.

I agree with the above comment. In addition to that, there are even a few other payment gateways that offer a 0% fee ^{[some with a certain limit in transaction #]} for merchants ^{[I won't name them]}...

• You can easily save a few cents by getting rid of the conversion part (most users prefer to have crypto, let them do the conversion if that's what they want/need and instead look for a middle ground ^{[in regards to your merchant's fee]}).

[srknbyr]

I totally agree with the comments above. We will reduce fees to 1% while expanding abroad.

There are some payment providers in Turkey like Stripe or PayU. Their average charge for handling credit cart payments are around 3.5% - 4%. We are presenting our gateway to merchants and they are "ok" about the fees. We will reduce commissions according to monthly volume.

[1Referee]

We will convert crypto into fiat and send fiat money to the merchant.

That makes me wonder how you hedge potential declines in the price? At one point if your business becomes a success and you generate significant volumes, your risk increases significantly too in terms of what the price is doing. The ShitPay's of this world hedge their down side risk by shorting a portion of their holdings. What is your plan of approach in such a situation?

We will reduce fees to 1% while expanding abroad.

There are some payment providers in Turkey like Stripe or PayU. Their average charge for handling credit cart payments are around 3.5% - 4%. We are presenting our gateway to merchants and they are "ok" about the fees. We will reduce commissions according to monthly volume.

That's awesome. It means that the merchants selling their goods for Bitcoin end up getting more money for the same products since the 3-4% card fees are generally calculated in the price of an item, which should be enough incentive to get them to accept your 1% fee.

[srknbyr]

That makes me wonder how you hedge potential declines in the price? At one point if your business becomes a success and you generate significant volumes, your risk increases significantly too in terms of what the price is doing. The ShitPay's of this world hedge their down side risk by shorting a portion of their holdings. What is your plan of approach in such a situation?

That's awesome. It means that the merchants selling their goods for Bitcoin end up getting more money for the same products since the 3-4% card fees are generally calculated in the price of an item, which should be enough incentive to get them to accept your 1% fee.

Our wallet service will be semi-custodial which our customers will keep their private keys but we will use wrapped cryptocurrencies. Our blockchain payment gateway will run on the Waves Blockchain. This will reduce the time it takes to write transactions to blockchains under 3 seconds. As soon as we see the purchase on the blockchain, we will sell the crypto coins we hold in the crypto exchange market.

When you see the payment complete icon in our video, our crypto exchange api is triggered and the cryptocurrency is already converted to nominal money.

[Harlot]

All comments are Welcome!

What comments are you exactly looking for? Are you looking for advice or suggestions on the ongoing business you are having? If that is what you are looking for then I think one of my major concerns is why did you choose this baby product website as your first website to put your payment gateway on? Even if they are the most popular baby/mother product website in Turkey I don't think it will be the right market for you to be in the first place? Because who will do you think will be paying Bitcoin or crypto in that website? I'm not stepping over your decisions but I think the most ideal way to introduce your service is to a real e-commerce website where they offer various products not only on a specific group since you are just dividing your market more if you went ahead with this.

[srknbyr]

All comments are Welcome!

What comments are you exactly looking for? Are you looking for advice or suggestions on the ongoing business you are having? If that is what you are looking for then I think one of my major concerns is why did you choose this baby product website as your first website to put your payment gateway on? Even if they are the most popular baby/mother product website in Turkey I don't think it will be the right market for you to be in the first place? Because who will do you think will be paying Bitcoin or crypto in that website? I'm not stepping over your decisions but I think the most ideal way to introduce your service is to a real e-commerce website where they offer various products not only on a specific group since you are just dividing your market more if you went ahead with this.

Thank you for your feedback.

We have made a survey amongst 1500 people in several cities. We asked a few questions to determine needs. Highest demand to use crypto is in electronic market and travel&accomodation follows next.

In fact there were no questions about mother and baby products.

But, “ebebek” is big enough to shout out our name and we will have room to fix potential errors on time due low demand.

The reason behind starting with a baby product company is;
- You need a Payment Institute Licence in Turkey to operate payment company.
- We are in touch with them and they are letting us to start with one merchant without Licence.
- This makes our gateway “offline” (solution for just one merchant) and we don’t need licence for that.
- There are some marketplaces in Turkey like Amazon or Ebay. But, we can’t start with them because they are working with other merchants.
- We can’t use our solution until we have Payment Institute Licence

Our milestones are;
- Start with ebebek
- Get funded from VC
- Get Payment Institute Licence
- Integrate our solution to other e-commerce web sites & expand
- Get funded from VC
- Expand to Mena & Europe region

[Harlot]

~snip~

The reason behind starting with a baby product company is;
- You need a Payment Institute Licence in Turkey to operate payment company.
- We are in touch with them and they are letting us to start with one merchant without Licence.
- This makes our gateway “offline” (solution for just one merchant) and we don’t need licence for that.
- There are some marketplaces in Turkey like Amazon or Ebay. But, we can’t start with them because they are working with other merchants.
- We can’t use our solution until we have Payment Institute Licence

I get it now, so it's really not a matter on where you are starting since the issue really here is the License you need to obtain in order to operate into other e-commerce websites which I think you need to focus more on since really Baby products isn't the way to go. I understand that you don't have any option really left so I think this should be your main focus or the first thing you need to do so you can expand more for your project.

[hirngespenst]

Looks great and your milestones are well-targeted. There are much blockchain payment gateways nowadays, especially this year we have seen many projects came with the same idea, but as you targeted only the Turkish people, it's a very good idea to go forward. Have you any plans to go worldwide like others?