

New startup looking for opinions - kjrillie

My startup can be found at dividethebuy.com I am new to the forum but I decided to come here for feedback after reading a recommendation from Jeff Epstein on onstartups.com Thanks for your help in inadvance
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lantern
This idea of payments plans/deferred payments seems very similar to how credit
cards already operate. However, I could see this being viable if you offer low
interest rates (I assume you'll have interest) and if your yearly membership
fee is reasonable (I assume there is a fee).

Personally, I don't think I would use it. I prefer to spend within my means,
and I have a credit card otherwise.

Good luck on your startup; it seems like this will be quite a large
undertaking as you will be essentially acting as a credit company.

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kjrillie
Thanks for comment... I hoping to do something similar to QVC and HSN'S easy
pay... but your right it might be similar to a credit card which would be hard
to implement so it might be better to start an online store on my own

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lantern
Okay I think I see. So you're making a service like HSN's FlexPay, but this
service will be available on any retail sites that opt-in to your service for
payments. That sounds doable as long as you get retailers on board.

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kjrillie
exactly...is the landing page not explaining this concept fully?

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sethito
Just curious...will you be paying the retailers up-front and dealing with the
customers or just be a middle-man and the retailers receive payment as the
customer pays?

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kjrillie
I would be the middle man but I would have a contract with retailers where if
customers did not pay then I would pay their part and that customer would be
ban from the site...my thought is retailers would feel more comfortable if it
less of a risk for them also customers would only be able to do one payment
plan at a time to decrease the risk on my side

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robotico
I wouldn't use it personally, but it might be useful for some.

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kjrillie
thanks for taking the time to leave a comment

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robotico
NP - Good luck!

