Kinghm10

“they turn out to be right, they take a cut of the returns—usually 20%.”
― Peter Thiel, Zero to One: Notes on Startups, or How to Build the Future

“People typically want credit to cover or fulfil (a) Big expenses (maybe to buy a bike) (b) aspiration (I want that iPhone now!) (c) Emergency. But are these pay later products meeting these credit requirements? No, they are not. BNPL companies give small credit lines to users so what exactly are they up to? Their play is different, here is what they are trying to do - Most of our spends are on small tickets e.g., Food order, medicine, utility bill, or bus ticket booking. So, BNPL companies are targeting these use cases (or merchants who are in those businesses) and trying to replace credit cards and/or other payment instruments.”
― Aditya Kulkarni, Auth n Capture : Introduction to India’s Digital Payments Ecosystem

“Any big market is a bad choice, and a big market already served by competing companies is even worse. This is why it’s always a red flag when entrepreneurs talk about getting 1% of a $100 billion market.”
― Peter Thiel, Zero to One: Notes on Startups, or How to Build the Future

“Net-banking ‘was’ an important payment method because of (a) lower credit card penetration (b) fear of using cards online. Over a period, net-banking users started moving to debit cards (as every bank account has a debit card) but the rise of UPI drastically affected net-banking transactions. Erosion of net-banking can be attributed to both merchants and customers alike: Customer: Multiple hops to complete the transaction, non-optimised mobile pages and remembering password (not a user-friendly flow). Merchant: Success rate is inconsistent and lower; commercials are higher (than debit cards) for majority of sectors. Few years ago, net-banking options were prominently displayed on merchant’s checkout pages. But nowadays net-banking options are at the bottom of the page or hidden as the merchants still wants to have it but don’t want users to pay using those.”
― Aditya Kulkarni, Auth n Capture : Introduction to India’s Digital Payments Ecosystem