![]() Again, very happy about this because we know our rates will just get better as our volumes increase. In fact, from previous tests, we've found that we usually beat or match the rates of our competitors and when we do beat them, its by quite a bit. This time the complete opposite of yesterday happened - we beat most of our competition and by a significant margin (more than yesterday's lost). Then, we have today's rate - which turned the tables ones a gain. I am confident that as our volume increases, we will have access to preferred rates that will likely even beat those of Reliable (and other Filipino remittances) - giving us a substantial edge (on top of our already industry low rates). I guess we can't always win - and given from the fact that we only have test remits under our belt - I can't complain too much when our rate (which we are using previous connections to get) is not as good as those companies who have substantial volume. On the other hand, yesterday's rate was surprising - our 1% margin (our unadulterated rate is actually 34.02) actually hurt us today - WU and WorldRemit beat us, probably for the first time in a while (they have in the pass). ![]() (Note to self - Facebook would be a pretty good partner for remittance - maybe one day write an app/use their API that is our page on their page? They would probably even want to buy us to help them expand - not a bad way to exit). The only other updates is that we have our SSL cert now (which is a must for final integration with any payment processor) which is good - saves a step when dealing with the ones above. In addition to those two, Debitway (another one popular with Bitcoin and other cryptocurrency companies) and Wepay are also good contenders - Debitway's API docs aren't as solid and Wepay has a high charge rate (about 0.8% more than Helcim), so we'll have to balance which one is right for us (likely going to go with the one that has pretty good API, but also the cheapest). Moneris (which is actually RBC+BMO) were also interested giving us service, but we choose Helcim over them because at that point it was still uncertain that we would get a BMO account (which is a prerequisite). We do have some leads, there we a bunch of processors we were talking to before - Vogogo looks like they have credit card working now (they didn't before - it was in the works) and were interesting in working with us (they work in the same space - AML and cryptocurrency their market) so there is a lot of hope there. It's not like we haven't faced similar tests before (Banking, Compliance, etc.) - but it is different because we actually had put a lot of work into it already. Oh well - now we're faced with finding a new processor and quick - we were in the middle of doing end to end test (which can continue by still paying with Bill Payment method and save card testing for later). This is unfortunate because I really liked working with the Helcim folks out in Calgary - Taylor and Svetlana always answered my questions and were really psyched to working with us. So - basically Helcim decided that MSB's were too high of a risk (after a year, wonder what changed their mind) and/or someone who was MSB like really screwed them over. Here is an excerpt from their last email: Helcim, the payment processor we had been developing our card payment around recently changed their policy on MSB's. Also, Angular was giving us a very hard time on the development side - so abandoning it and going with something more lightweight that we have tons of experience is actually accelerating development - Don was able to rewrite most of our front end in about a week!!! (good job Don!).īut this isn't the end of our story. So what does this have to do with Angular? Well, simply put, Angular + GIT = does not play well. Getting back on topic - with GIT, we can allow the majority of users to use our service seamlessly. But more importantly, if their families and friends are big Facebook users, then they definitely will continue to use it. What this means to us is, if users in the Philippines are huge Facebook users, when they immigrate to Canada, they probably are still huge Facebook users. In fact, Facebook penetration in the Philippines is a staggering 94% of internet users - probably the reason why the Philippines is free internet ala ( basically free internet, but limited to Facebook and a handful of other sites). GIT allows people to sign in using a number of existing platforms - platforms that we know our market segment in the most used email and/or platform by far is Gmail, Yahoo, and Facebook ( source Alexa). Part of the reason was due to the Persona debacle - but another part of it is the new solution that we are going to be implementing - Google Identity Tool - Or GIT for short. We've decided to completely abandon the use of Angular for the front end in skew of something more conventional. As noted in the last post - lots of things going on the past few days.
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