

Owning Payment.ly - entrepreneurial

If you owned Payment.ly and had the funding you needed, what type of business would you create?
======
isakib
Do you think, Libya has secured DNS management. Check this news, it happened
in our country, <http://techcrunch.com/2011/01/08/google-bangladesh-hacked/>.
If it happen again with payment.ly for the careless management of Libya? In
that case, people will lost the trust. So, what about that?

~~~
entrepreneurial
Good points, but Bangladesh isn't Lybia. And if the "worry" was the case,
companies/site's like bit.ly or page.ly would have a .com redundancy - like we
will as well - just in case.

------
jcr
Do you really think basing a payment service on a domain controlled by Libya
inspires trust?

~~~
entrepreneurial
Sure, why wouldn't it? It would be a US based LLC with the proper US licensing
and insurance and hosted in the US.

~~~
dsl
According to the US State Department "Libya remains on the list of designated
state sponsors of terrorism."

Since part of the registration fees go directly to the government, registering
a .ly domain is about the shortest route you can take to get funds into the
hands of terrorists planning attacks on western countries without being
subjected to a criminal investigation in the US.

It is fun to play pretend on the internet that your actions have no impact on
the real world, but you should take a few minutes to reflect on what your
business is supporting.

~~~
PHPAdam
Buying domains supports terrorism, so does paying Tax's
[http://en.wikipedia.org/wiki/United_States_and_state_terrori...](http://en.wikipedia.org/wiki/United_States_and_state_terrorism)

If it was such a wide spread problem, an issue to fight for, the US government
disallow any payments to Libya from US banks.

------
komlenic
I understand why you may have framed your question the way you did, but isn't
getting a domain before knowing what kind of business you're going to create a
little backwards? If you're going to attempt to compete in the payment space,
you'd need a great niche, or else do a bunch of things better/cheaper than the
others. There may be more room in B2B, than C2B/C2C.

The .ly domains are attractive, especially considering so many great names
under that TLD are still available. However, I'm personally a little wary
(whether there is just cause to be or not) and I would be wary x10 for
anything commercial/financial.

~~~
entrepreneurial
I know what we are going to do with it - we have a great idea, I just wanted
to see what others would do with it.

True, that is what is holding us back. We're exploring some .coms

------
PHPAdam
Competing with Paypal, Google Checkout and the rest would be difficult without
major funding. You need to find a USP such as <https://squareup.com> or
<http://flattr.com/>

If a USP to compete with the likes does not come to mind, then find a niche
business activity that makes payments. Then design it around their and their
customers requirements, I have a similar project on the drawing board.

~~~
entrepreneurial
Yes, competing would be and we do have a USP. Some parts of our services are
similar with the traditional payment companies (google checkout and paypal)
which will allow us to take part of their market share.

