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I'll be able to offer a nice discount to entice the use of echeck and still save money on our end. Time will tell!
After speaking with them I have full confidence that this is happening and will be fully functioning. Exciting stuff.
I read that as released to Mag and Woo. People were freaking out when they didn't see MyECheck listed as payment options after day 1 of PR. If you know anything about the tech industry, you know that you don't submit something and magically it's available the next second.
I'm seriously considering moving my store over just so I can save on CC fees. Waiting to hear more from MYEC regarding several technical questions I have about moving my store. I sell high ticket items and get torched by CC companies.
Not exactly. But you're free to read into things as you wish.
Agreed
They're designed & released. I'm assuming Magento doesn't load new payment methods every day. Perhaps have some sort of schedule? I'm not sure.
I was told if I move my store over i will be able to easily implement the plugin in 2-4 weeks.
2-4 weeks on Magento plugin. Just spoke with MyECheck regarding moving my store from one ecomm supplier to Magento.
I'd love to know the percentage of merchants who use anything other than credit card transactions and Paypal. I imagine that percentage to be quite low, but that's just my opinion.
Taking the expedited route lol
Thanks for the input.
Hi everyone, I just started reading up on the company today. Can anyone tell me why the volume is rather low? Will continue doing DD on the company today, thinking about hopping in tomorrow.
Thanks in advance!
It's big news yes, but why would a consumer at this point choose to sign up for and pay with MyECheck over credit cards, Paypal, etc.? Currently they have no reason to.
Not bashing, just speaking the reality of it at the current time. This can all change quickly if marketed strategically.
In order to understand this, you need to understand what Magento is. Magento is a content management system (CMS) used to build e-commerce websites. A content management system lets you easily develop a website without having to know HTML code.
When you are developing your site, you need to select which plug-ins you want to use to accept payment. So for example, you will select credit cards obviously since that is most widely used. Then you have other choices such as, check, purchase order, e-check, etc. When the merchant selects these other options, they will be available as payment options on their website.
As long as I am understanding all of this, as I think I am, the merchant will have to select to add MyECheck to their websites. From there it is up to the consumer to select e-check as their payment choice. In order for this to be widely adopted, I believe there will need to be some sort of reward for paying with e-check. Merchants (if educated properly about the benefits of MyECheck) should and will offer some sort of reward for choosing to pay with echeck. They will save a ton of money by utilizing MyECheck, and should have the ability to extend some of those savings on to their customers.
News right now would be something else...
Now is a good time to take a milly on the ask lol
The 200 is at .022
As much as I don't want to agree with that statement, i think i agree.
You need people to adopt paying with things via e-check, or even knowing what an e-check is prior to getting 10% of 240,000 merchants. What would be beneficial now is for Sionic to go after the companies who use Magento (240,000 of them). If customers had some sort of incentive to use e-check, like a reward....bingo.
Was there supposed to be a q/a today?
Picked up 30,000 today. Christmas present to myself.
You're right, however I look at the apps as a secondary piece of the company. A complimentary piece to a much larger puzzle.
Can someone send me a link about the Amazon/sionic agreement for January?
Their website seems pretty legit to me. Like it.
Thanks for the accurate information Whytecrowe.
If someone like Apple were to buy out Ed's patent, what would that mean for investors? I understand if they buy the company we would all be involved in that, but what if he decided to sell his patent?
Sionics app alone could bring annual revs of $10+ million
Ed Starrs "Yes, we are taking the space in the front with a reception area, two conference rooms, and a break room, about 3,400 sq ft"
Will we get .25 on every transaction from sionic? I'm not sure how that contract is written...
If so, that revenue should add up extremely quickly, even if each location only does 10 transactions per day.
.25 x 10 trans per day = $2.50 x 40,000 = $100,000 x 365 = $36.5 million annual.
I'm long myec, but Eddessa is speaking sensibly right now. If for some reason something crazy happens prior to him getting back in, it's his loss. If not, then he's making a smart financial decision by following his personal strategy.
I guess I can see it from that side of the fence as well. I think it's getting a bit excessive though. Typical customers aren't emailing them begging to find out when myec will be implemented.
If you were Sionic how much would you hate every one of us? I can't believe how many times i've seen quotes from myec investors asking the same damn question. On here, on facebook, on twitter. Give it a break and let the people work.
Go to their website, you'll understand.
Does an uplist to the next exchange do anything in terms of manipulation? It is still pink sheets correct?
We need a booth next year at Money20/20
Everything Money 20/20 is retweeting are tweets about the necessity of real time payments.
#Fiserv's Yabuki weighs in that we need to think of financial services at "the speed of life" #money2020
#money2020 #fiserv: talking about real time remittance
Money @ the speed of life needed, says @fiserv CEO - a world of choice, ease and empowerment. #money2020
Yabuki says he would rather rebuy an iTunes song than go to his basement and find it on CD - consumers pay more for instant grat #money2020
consumer expectation for pmts (& commerce) "I want what I want when I want it" J Yabuki@Fiserv-next frontier of pmts #money2020 #gartnercrm
How quickly we all forget about the the PHENOMENAL things that are going on with this company. Go out for a jog, go fishing, bang your wife or husband. Do anything other than staring at this stock 24/7. We have everything we need to be successful here, and it will happen.
Sionic is going live with us soon but do you have to use the myecheck option to use Sionic? No, right?