you need to load money into wallet.
How E-wallet companies make money?, data collection?
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 May 9 2019, 05:14 PM
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Senior Member
5,650 posts Joined: Mar 2012 
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May 9 2019, 05:19 PM
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Moderator
10,308 posts Joined: Jan 2003 From: Kuala Lumpur 
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They just bleeding money to lock you into their ecosystem... once they have sizeable userbase, all the cashback, etc will be lowered. Look at Lazada now. Before this, they used to give a lot of vouchers/promo. But now barely any promo left.
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May 9 2019, 05:21 PM
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Junior Member
43 posts Joined: Jun 2018
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QUOTE(lambsauce @ May 9 2019, 04:50 PM) App like boost gives cashback for every transaction we make, n this is on top of cc benefits that we can get They dont make money now. relying on funding and investment with projected value. then increase company value, go IPO. consumers like to things that startup make money from them.. they dont. users are not customers but commoditiesDo they pay merchants some % of total sales to partner with them, or the other way round, where merchants share some % of their sales with e-wallet company? While other one like Grab Pay could leverage their food delivery services to get food merchants on board, but after all, is it sustainable with all the promos n cash back? or they are all bleeding till a point that they are powerful to sell or make use of these huge pool of customer n transaction data they collect? inb4 money laundering lettew  |
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May 9 2019, 05:22 PM
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Junior Member
354 posts Joined: Feb 2015
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one day suddenly announce system got hacked
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May 9 2019, 05:23 PM
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Junior Member
43 posts Joined: Jun 2018
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QUOTE(HMMaster @ May 9 2019, 05:19 PM) They just bleeding money to lock you into their ecosystem... once they have sizeable userbase, all the cashback, etc will be lowered. Look at Lazada now. Before this, they used to give a lot of vouchers/promo. But now barely any promo left. like amazon did in US. |
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May 9 2019, 05:25 PM
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Junior Member
623 posts Joined: Jan 2011 From: Lobang Batu
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QUOTE(St0rmFury @ May 9 2019, 04:57 PM) The same way banks make money. Funny thing is in the individual setting, it benefits both the user and the wallet. That is until we all decide to empty our pockets at once kot haha.They depend on users keeping more money than they consistently use in the e-wallet. Then they invest the money and a portion of the profits are given back to users in the form of discount & cashbacks. |
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May 9 2019, 05:33 PM
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Junior Member
85 posts Joined: Dec 2005
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QUOTE(lambsauce @ May 9 2019, 04:50 PM) App like boost gives cashback for every transaction we make, n this is on top of cc benefits that we can get how e-Wallet / grabpay makes money ?Do they pay merchants some % of total sales to partner with them, or the other way round, where merchants share some % of their sales with e-wallet company? While other one like Grab Pay could leverage their food delivery services to get food merchants on board, but after all, is it sustainable with all the promos n cash back? or they are all bleeding till a point that they are powerful to sell or make use of these huge pool of customer n transaction data they collect? inb4 money laundering lettew u top p e-Wallet, like thousands/millions others... e-wallet have huge money sitting in their pool , until someone use them... 1. invest non moving money into somewhere. -> profit 2. keep balance in savings acct with higher return -> profit how coupon/discount system make money ? charge company for promotion based on their user reach. ->profit get users to keep using their app for discount. increases user reach ->profit in either case, they will give out user stats as marketing strategy to get more corporate to invest /market with them... |
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May 9 2019, 05:35 PM
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Junior Member
150 posts Joined: Oct 2009 From: Klang, Selangor D.E Status: Work Everyday
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They make money when we pump money inside.
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May 9 2019, 05:36 PM
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Junior Member
85 posts Joined: Dec 2005
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QUOTE(HMMaster @ May 9 2019, 05:19 PM) They just bleeding money to lock you into their ecosystem... once they have sizeable userbase, all the cashback, etc will be lowered. Look at Lazada now. Before this, they used to give a lot of vouchers/promo. But now barely any promo left. dont forget grab...now they throw money in getting market for grabfood... yet its fukin expensive... RM5 per delivery... McD used to do it for RM1 last time... KFC learned fast and setup self collect app... |
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May 9 2019, 05:37 PM
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Junior Member
207 posts Joined: Mar 2010
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Guess because u need to reload your eWallet,
Money sitting there, they can do watever they please, Janji you buka app still see your $ inside. Haha, felt a bit stupid reloading my Ewallets, average hving 200 inside each app. |
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May 9 2019, 05:44 PM
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Junior Member
225 posts Joined: May 2007 From: KL
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QUOTE(bryanhwm @ May 9 2019, 05:37 PM) Guess because u need to reload your eWallet, I only reload when I want to buy something under promotion haha...Money sitting there, they can do watever they please, Janji you buka app still see your $ inside. Haha, felt a bit stupid reloading my Ewallets, average hving 200 inside each app. And only reload close to the exact amount I need.  This post has been edited by St0rmFury: May 9 2019, 05:45 PM |
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May 9 2019, 05:46 PM
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Senior Member
1,725 posts Joined: Jan 2003
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all those promotion / cash back / etc increase sales, from lazada last times or celcom boost now, increase sales by itself is the main business of all business.
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May 9 2019, 05:50 PM
Show posts by this member only | IPv6 | Post
#33
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Senior Member
962 posts Joined: May 2008
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When you use e-wallet, you must put in money first right? The first step you put in money to your wallet or shall I suppose to say you put money in their wallet, the company already profit. They keep your money and roll the money to get profit.
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May 9 2019, 05:50 PM
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Junior Member
72 posts Joined: Jan 2015
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it's simple. you keep top up your wallet. 5 out of 10 users will be pengguna tegar. they use that money for FD, various investments etc
as for Grabpay.. they don't take anything from the merchant. |
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May 9 2019, 05:52 PM
Show posts by this member only | IPv6 | Post
#35
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Junior Member
375 posts Joined: Nov 2017
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It is all about data and merchant fee too ..
Big data is very valuable to others and make soon be valuable than the petroleum |
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May 9 2019, 05:52 PM
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Junior Member
72 posts Joined: Jan 2015
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QUOTE(St0rmFury @ May 9 2019, 06:44 PM) I only reload when I want to buy something under promotion haha... yeah same here. budget tesco / speedmart RM 90.. reload RM 100.. okla.. kasichan RM 10 extra And only reload close to the exact amount I need. Grabpay auto top up RM 20 if balance below RM 10. still not bad tho... can use for grabcar.. pay for meals |
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May 9 2019, 05:56 PM
Show posts by this member only | IPv6 | Post
#37
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Senior Member
962 posts Joined: May 2008
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It's the prepaid system that profit the company. You haven't use the prepaid credit but they already collected your money.
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May 9 2019, 05:57 PM
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Junior Member
33 posts Joined: Mar 2019
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QUOTE(St0rmFury @ May 9 2019, 05:44 PM) I only reload when I want to buy something under promotion haha... exactly! I dunno why some like to topup hundreds or thousands in the app, then when can't withdraw, then cry father cry mother...And only reload close to the exact amount I need. if an item is rm21, i will topup 30, then got leftover for next time just topup enough to use... |
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May 9 2019, 06:00 PM
Show posts by this member only | IPv6 | Post
#39
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Junior Member
34 posts Joined: Mar 2010
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Technology companies rarely shutdown gracefully. When they shutdown, everything they provide stops, and everything you keep with them is gone. Just a reminder.
 I don't even know how much I have in MEPS Cash, and how to get it back. Probably costs about the same or more to get back the money. Like what I am experiencing with TnG, 11 MYR to retrieve 15 MYR. This post has been edited by hwt: May 9 2019, 06:20 PM |
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