Oct 11 2020, 08:33 PM
QUOTE(anonymous552235 @ Oct 11 2020, 07:34 PM)
May I add that no matter withdrawal is or not available, it will not plug the hole for bigpay. Debit card fees which bigpay made vs credit card fees Alone excluding other cost fees its paying is never going to be profitable, they were just hoping that when the funding from other means surpass cc topup then they can brealeven or even make money, like boost n tngo, but tbh does boost n tngo actually make money yet? I would say they r still burning money to gain market dominance before any actual profit to be seen, whoever cant sustain will be out and sadly it looks like bigpay burned 29mil in last quarter report ...so figure out urself if disabling withdrawal and blaming those who did so will make much dif as the whole cost revolve within using CC to reload and not the withdrawal part, even if u dun withdraw they theoritically still LOSE money because cc fees is higher than debit card fees!
exactly. most startups burn cash until (if) they become profitable or get acquired. I don't think their model is sustainable unless they get acquired or IPO. Even if 100% of credit card topups are spent instead of withdrawn, they still lose. They also have a lot of overhead costs (employees, rental, warez development).as long as banks are not making a fuss, I think it's probably better for them to charge a higher fee for withdrawals and increase the limits rather than reducing the limits.
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