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To learn more, visit:
http://prepaidbitcoin.phCongrats +1
Great idea with massive potential and quickly brought to market BUT there is a 10% charge on the card ( and possibly a further 3%+ from the merchants who accept compared to fiat prices to cover their conversion back to pesos??)..Whilst the novelty factor will initially drive this the added cost will surely eventually kill the "Potential golden goose"....an initial cost of 3-5% will be less prohibitive as they can still have a financial gain by spending remittances in bitcoin without conversion to peso at additional cost of 3%.
a) Is the card reloadable from a bitcoin wallet (and how?) without a further 10% charge ? If not, please consider this type of system as then the initial cost of card is more acceptable as a one time payment.
b) Ultimately a 1% cost per card and a similar mark up for merchants accepting would be a more sustainable model..is this where you will be going? If so then may I suggest the adjustment should come soon to avoid negative sentiment and increase the adoption rate to get the volume required.
Customers first experience must be POSITIVE!!http://www.linkedin.com/today/post/article/20130604134550-284615-15-statistics-that-should-change-the-business-world-but-haven-t6. 96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back – 1Financial Training services.
7. A dissatisfied customer will tell between 9-15 people about their experience. Around 13% of dissatisfied customers tell more than 20 people. – White House Office of Consumer Affairs.Any press article will immediately note that there is almost no benefit from changing $ to bitcoin ( 1-2%) sending it to manila (free or 100 bits via quickcoin) loading it to a prepaid card ( 10% ouch) spending it to a merchant who may charge you 3% more than the fiat price.
I know this is brand new,,,you may wish to reconsider pricing so that the total cost is equal or lower to a western union fiat conversion and transfer at 11%.approx total.. even if this shows the profitability in that model is not projected for 12 - 24 months.
Others are aware of this lag time and are therefore capitalized to cover this. Whilst the link is a traditional non bitcoin payment/remittance system they have raised substantial funding to compete in large and increasingly competitive market of $24B / year. Bitcoin needs to play to its strengths which is it should be substantially less expensive to use for remittance AND purchasing.
http://techcrunch.com/2014/07/21/ayannah/and here's a bitcoin one from yesterday
http://www.coindesk.com/zipzap-1-1-million-expand-bitcoin-payments-network/You have an edge being a pioneer which needs to be maintained and increased..these others will likely eventually attempt to leverage you out with financial muscle...eg similar service at much lower rates.
Gd luck