Add cheap funding function - at least in US, EU and UK

Gameflip - Questions & Suggestions
1

The funding fees are the real turnoff for many buyers, they’re at least 3% in US and 4% elsewhere

It’s completely understandable because it covers the fees GF is paying to 3-rd party processors for credit card processing; however there are alternatives.

In the US slow (ACH) funding from the bank is available for free, and very cheap instant processing via Debit cards is available too - and all the processors GF is utilizing support these; all it takes is to integrate these into your back-end

I’m less familiar with EU financial network, but IBAN/BIC transfers there are free and fast

I’m sure UK, AU and NZ have similar options

Another obvious funding possibility is accepting crypto transfers in, the current FLIP component is laughable,

Yes, it will require some development, but that’s how you grow your business.

ETA - forgot to add: all funding functions I proposed are money-makers for GF because they all don’t have extra cost of Credit cards chargebacks

2

I imagine, if they added this for Europe, UK and USA, they would have to do for other countries as it’s not fair for just us to get cheap funds.

I am pretty sure that UK Banks are free to transfer money and they use FPS.

UK Banks charge a 3-5% rate for transferring in USA so I am not sure, Gameflip would have to look into it.

Adding it for all countries would be a good option to attract more people and keep us happy!

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3

GF can only possible use cheap funding where their processors support it, and Apple Pay, Google Pay and Skrill definitely support it in the US, EU, CA, UK and AU

No one can expect them to navigate the banking systems of 200 countries; but it’s feasible and wise to accommodate the bank-based funding whenever possible.

I just hope someone reads this…

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4

These options are slow, and lots of buyers here are impatient :slight_smile: but yeah, having a lower cost option would be nice.