Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> How E-wallet companies make money?, data collection?

views
     
TSlambsauce
post May 9 2019, 04:50 PM, updated 3y ago

Casual
***
Junior Member
311 posts

Joined: Apr 2019
App like boost gives cashback for every transaction we make, n this is on top of cc benefits that we can get

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
hightechgadgets8
post May 9 2019, 04:52 PM

Rất Vui Được làm quen với bạn
*******
Senior Member
5,204 posts

Joined: Sep 2011
From: Sài Gòn


TS pls bank in 1m to my account, every month i gib u 1% cash back. ok?
kennykong85
post May 9 2019, 04:54 PM

Getting Started
**
Junior Member
251 posts

Joined: Apr 2014
From: dont harash me
parking to c comments.
there are too many many many many e wallets in malaysia.
kenapa so many ewallets in msia?

while i only know 1 ewallet in china - wechat pay...


jonn zee
post May 9 2019, 04:55 PM

On my way
****
Senior Member
602 posts

Joined: Jul 2011


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

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
*
Data is the new gold
St0rmFury
post May 9 2019, 04:57 PM

Getting Started
**
Junior Member
197 posts

Joined: May 2007
From: KL


The same way banks make money.

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.
garywind
post May 9 2019, 04:58 PM

Getting Started
**
Junior Member
81 posts

Joined: Aug 2007
keep your money without give u back interest
u said good biz or not?
SUSnot your bro
post May 9 2019, 04:59 PM

New Member
*
Junior Member
14 posts

Joined: Mar 2019
they hold your money and rolling your money.. I can't withdraw my money they said my data is missmatch..actually they yang approved my premium boost then said missmatch..now stuck 1.3k inside cannot withdraw
shinchan^^
post May 9 2019, 05:03 PM

K66
*********
All Stars
21,201 posts

Joined: Jan 2003
From: Pekopon


collect customer base
then sell as a whole to big company like fesbuk or whatever
ju146
post May 9 2019, 05:05 PM

Regular
******
Senior Member
1,427 posts

Joined: Nov 2008
1. intraday interest
2. transaction charges

dont think there is revenue from ads at the moment
Baconateer
post May 9 2019, 05:05 PM

Meh..... (TM)
*******
Senior Member
4,222 posts

Joined: Jun 2013
From: Blue Planet


u use their apps..

thy collect ur data..

maybe sell it to other companies or use as ads = profit
persona93
post May 9 2019, 05:07 PM

Regular
******
Senior Member
1,017 posts

Joined: Oct 2010


QUOTE(St0rmFury @ May 9 2019, 04:57 PM)
The same way banks make money.

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.
*
seems legit
ju146
post May 9 2019, 05:07 PM

Regular
******
Senior Member
1,427 posts

Joined: Nov 2008
dont think they are making money through data cross selling. if there is also, the fraction will be very small...
kyxxx
post May 9 2019, 05:07 PM

Getting Started
**
Junior Member
281 posts

Joined: Nov 2008
From: Somewhere in the middle~
QUOTE(St0rmFury @ May 9 2019, 04:57 PM)
The same way banks make money.

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.
*
thumbup.gif thumbup.gif
RichardN
post May 9 2019, 05:08 PM

New Member
*
Newbie
26 posts

Joined: Nov 2016
None of the E-wallet in Malaysia is making money, at least at this moment

They just bleeding the money they get from investor

This post has been edited by RichardN: May 9 2019, 05:08 PM
x3Kai
post May 9 2019, 05:08 PM

Getting Started
**
Junior Member
233 posts

Joined: Jun 2012
From: Kuala Lumpur


QUOTE(kennykong85 @ May 9 2019, 04:54 PM)
parking to c comments.
there are too many many many many e wallets in malaysia.
kenapa so many ewallets in msia?

while i only know 1 ewallet in china - wechat pay...
*
alipay
RichardN
post May 9 2019, 05:10 PM

New Member
*
Newbie
26 posts

Joined: Nov 2016
QUOTE(kennykong85 @ May 9 2019, 04:54 PM)
parking to c comments.
there are too many many many many e wallets in malaysia.
kenapa so many ewallets in msia?

while i only know 1 ewallet in china - wechat pay...
*
Cuz many many want to replicate or becoming the main e-wallet or dominate the Malaysian market like wechat does in china
alexkos
post May 9 2019, 05:11 PM

Look at all my stars!!
*******
Senior Member
2,165 posts

Joined: Jun 2010
U answered your own question.

Same like WhatsApp. Facebook. How they earn?
JimbeamofNRT
post May 9 2019, 05:11 PM

On my way
****
Junior Member
662 posts

Joined: Sep 2012
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

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
*
I paid one of my car insurance using one of the ewallet service last year

dunno why suddenly this week so many agents call me to renew with them

suspect my data leaked by some company along the way

I knew it since I used one of my non official contact number as contact number for the insurance
swks26
post May 9 2019, 05:12 PM

CEO RM20k/day
*****
Senior Member
942 posts

Joined: Jan 2007
Transaction fee from their vendors
Customer's money kept with them are getting interest from bank

SUSDJJD
post May 9 2019, 05:14 PM

Casual
***
Junior Member
302 posts

Joined: Sep 2011



QUOTE(swks26 @ May 9 2019, 05:12 PM)
Transaction fee from their vendors
Customer's money kept with them are getting interest from bank
*
There are many ways as well they can make money.

Loans to SME (since they have aggregated user data)
Data analysis for market research (share of wallet, for example once you have 1M users, you know roughly marketshare of Petronas vs Shell vs Petron, etc)

And many more.
fireballs
post May 9 2019, 05:14 PM

10101
*******
Senior Member
5,017 posts

Joined: Mar 2012
you need to load money into wallet.
HMMaster
post May 9 2019, 05:19 PM

10K Club
Group Icon
Moderator
10,308 posts

Joined: Jan 2003
From: Kuala Lumpur


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.
Joe_Longgo
post May 9 2019, 05:21 PM

New Member
*
Junior Member
43 posts

Joined: Jun 2018
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

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
*
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 commodities
happyking4ever
post May 9 2019, 05:22 PM

Casual
***
Junior Member
354 posts

Joined: Feb 2015
one day suddenly announce system got hacked tongue.gif
Joe_Longgo
post May 9 2019, 05:23 PM

New Member
*
Junior Member
43 posts

Joined: Jun 2018
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.
Dezs
post May 9 2019, 05:25 PM

On my way
****
Junior Member
509 posts

Joined: Jan 2011
From: Lobang Batu


QUOTE(St0rmFury @ May 9 2019, 04:57 PM)
The same way banks make money.

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.
*
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.
MadhavanR
post May 9 2019, 05:33 PM

Getting Started
**
Junior Member
84 posts

Joined: Dec 2005


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

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
*
how e-Wallet / grabpay makes money ?
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...

keyibukeyi
post May 9 2019, 05:35 PM

Getting Started
**
Junior Member
140 posts

Joined: Oct 2009
From: Klang, Selangor D.E Status: Work Everyday
They make money when we pump money inside.
MadhavanR
post May 9 2019, 05:36 PM

Getting Started
**
Junior Member
84 posts

Joined: Dec 2005


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...
bryanhwm
post May 9 2019, 05:37 PM

Getting Started
**
Junior Member
206 posts

Joined: Mar 2010
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.
St0rmFury
post May 9 2019, 05:44 PM

Getting Started
**
Junior Member
197 posts

Joined: May 2007
From: KL


QUOTE(bryanhwm @ May 9 2019, 05:37 PM)
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.
*
I only reload when I want to buy something under promotion haha...

And only reload close to the exact amount I need. biggrin.gif

This post has been edited by St0rmFury: May 9 2019, 05:45 PM
Alpha_Tay
post May 9 2019, 05:46 PM

Beware The Spammer Star!
******
Senior Member
1,604 posts

Joined: Jan 2003
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.
la bella
post May 9 2019, 05:50 PM

Enthusiast
*****
Senior Member
784 posts

Joined: May 2008
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.
saintnotsinner
post May 9 2019, 05:50 PM

Getting Started
**
Junior Member
72 posts

Joined: Jan 2015
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.
vanillapire
post May 9 2019, 05:52 PM

Casual
***
Junior Member
375 posts

Joined: Nov 2017
It is all about data and merchant fee too ..
Big data is very valuable to others and make soon be valuable than the petroleum
saintnotsinner
post May 9 2019, 05:52 PM

Getting Started
**
Junior Member
72 posts

Joined: Jan 2015
QUOTE(St0rmFury @ May 9 2019, 06:44 PM)
I only reload when I want to buy something under promotion haha...

And only reload close to the exact amount I need.  biggrin.gif
*
yeah same here. budget tesco / speedmart RM 90.. reload RM 100.. okla.. kasichan RM 10 extra

Grabpay auto top up RM 20 if balance below RM 10. still not bad tho... can use for grabcar.. pay for meals
la bella
post May 9 2019, 05:56 PM

Enthusiast
*****
Senior Member
784 posts

Joined: May 2008
It's the prepaid system that profit the company. You haven't use the prepaid credit but they already collected your money.
SUSTwenty-Fifth Baam
post May 9 2019, 05:57 PM

New Member
*
Junior Member
33 posts

Joined: Mar 2019
QUOTE(St0rmFury @ May 9 2019, 05:44 PM)
I only reload when I want to buy something under promotion haha...

And only reload close to the exact amount I need.  biggrin.gif
*
exactly! I dunno why some like to topup hundreds or thousands in the app, then when can't withdraw, then cry father cry mother...

if an item is rm21, i will topup 30, then got leftover for next time just topup enough to use...
hwt
post May 9 2019, 06:00 PM

New Member
*
Junior Member
25 posts

Joined: Mar 2010


Technology companies rarely shutdown gracefully. When they shutdown, everything they provide stops, and everything you keep with them is gone. Just a reminder. smile.gif

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

 

Change to:
| Lo-Fi Version
0.0238sec    0.51    5 queries    GZIP Disabled
Time is now: 20th January 2022 - 09:32 AM