Tucr.io flexible payment plans on Stellar

jaykay

Hello everyone,

I'm Justin co-founder of www.tucr.io a remittance app with a difference.

Tucr.io will leverages the Stellar network to make flexible payment options more efficient, cost effective and provide people within developing economies with alternative to credit when purchasing items and services. We will do this by integrating with the stellar network to create a shared ledger of immutable record and related incremental payment confirmations with auto-fulfillment of contract terms and conditions.

Tucr.io public beta was initially launched within retail sector to validate the concept and technology. Since launch we have facilitated the creation of $500,000 worth of flexible payment contracts. These contracts were created between a wide variety of businesses and consumers across the following verticals: Jewelry, Weddings, Baby-care, Electronic and Travel.

We are currently heavily integrated with Stripe . We have found Stripe to be the perfect partner for our technology during early stage development and we are part of their Atlas program. Long term we wish to move Tucr payment plan contracts on chain through Stellar network and continue to develop our technology to scale with the network as it becomes a global leader in online payments. This is why we are now delighted to apply for the Stellar build challenge.

Webiste: www.tucr.io
Twitter: https://twitter.com/Tucr_

jaykay

http://www.tucr.io/

frejete

Would be nice for SaaS businesses who want to take monthly payments in XLM.

Right now I'm thinking of starting to take such subscriptions for https://stellarid.io which is a Stellar project, so it would be nice to accept payments in XLM. But since there's no way to have a recurring transaction, I'd have to setup a whole bunch of email reminders nagging the customer to pay every month, so I'd probably give up and just have a Stripe credit card standard subscription. I'd gladly pay a commission to a service that would take care of reminding the customer to pay in XLM for me.

jaykay

frejete thanks very much for your comment. Interesting to read your feedback about the possible pain for you in creating email reminders for customers. Our initial MVP was very much down this line, we provided a simple way for your customers to make manual recurring payments (online and offline) and we took care of the reminder process - see video here https://vimeo.com/194662783 it worked out really well, we increased cash-flow by 20% and both retailers and their customers found it super simple to use.

To progress our product we then started looked at using standard stripe subscriptions to provide an option for automated recurring payments but found this Stripe subscriptions structure to be too rigid. So we decided to create our own logic and process for creating flexible payment plans and retained Stripe as payment gateway. This gives us much more flexibility on the front end for our customers. They will be able to create many different types of payment schedules and so it has many different applications.

The next step we considered was to start accepting BTC as Stripe provided this straight out of the box https://stripe.com/docs/sources/bitcoin however as many of you may know, Stripe discontinued this service because of soaring transaction fees, plus this was most likely going to be a stepping stone for us towards Stellar. We also think it is likely that Stripe will offer XLM payment out if the box in time too.

Thanks also for your feedback on pricing. We are looking at two options, the first is pay as you go which is commission and the second is SaaS with no commission. We feel that this gives our customers flexibility once they start scaling.

WebWallet

frejete Hey frejete, we are working on a payment solution and hope to be able to release it prior to the SBC deadline (March 15). While it's not part of the first version, it's already on our roadmap to add recurring payments (subscriptions) for registered users.

https://galactictalk.org/d/964-one-webwallet-sending-and-accepting-payments-in-all-cryptocurrencies

jaykay

WebWallet sounds very interesting. Best of luck with your project.