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Feb 20, 2017 · 19m · top-founders

EP 576: Will This Mobile Payments Startup Survive with CEO Rode Luhaaar?

Nathan Latka · 9m spoken Rode Luhar · 7m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Nathan Latka interviews Rode Luhar, CEO of mobile payments startup PayTaylor, scrutinizing the company's early-stage metrics, lean operational model, low transaction volume, and strategic expansion from Estonia into the UK market.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 57.1% of the talking time here. How this is scored →

Nathan as informed peer 5.3 Guest teaching 2.8 Guest disagreement 1.8 Nathan pushing back 5.0
05100:0010:002:26–4:39 · Nathan as informed peer 4/10 Introducing Guest Rode Luhar of PayTaylor Latka gathers baseline metrics on PayTaylor, quickly calculating that 40 customers on 10 euro monthly fees yields roughly $450 in monthly recurring revenue.4:39–8:01 · Nathan as informed peer 4/10 Startup Origins, Team Distribution, and UK Payment Inefficiencies Luhar explains the origins and transaction fee structure, while Latka probes into his personal runway and how the Estonian acquiring bank operates under the hood.8:01–11:53 · Nathan as informed peer 7/10 UK Expansion Plans and Entering the IoT Payment Space Latka challenges the logic of expanding to the UK after uncovering that the entire merchant network processed only 450 euros in total volume the previous month.11:53–15:12 · Nathan as informed peer 6/10 Estonian Testbed Advantages versus UK Consumer Payment Culture Latka pushes on why PayTaylor is not winning Estonia first, prompting Luhar to educate him on Estonia's lack of in-store mobile payment habits compared to the UK's mature market.2:26–4:39 · Guest teaching 1/10 Introducing Guest Rode Luhar of PayTaylor Latka gathers baseline metrics on PayTaylor, quickly calculating that 40 customers on 10 euro monthly fees yields roughly $450 in monthly recurring revenue.4:39–8:01 · Guest teaching 2/10 Startup Origins, Team Distribution, and UK Payment Inefficiencies Luhar explains the origins and transaction fee structure, while Latka probes into his personal runway and how the Estonian acquiring bank operates under the hood.8:01–11:53 · Guest teaching 2/10 UK Expansion Plans and Entering the IoT Payment Space Latka challenges the logic of expanding to the UK after uncovering that the entire merchant network processed only 450 euros in total volume the previous month.11:53–15:12 · Guest teaching 6/10 Estonian Testbed Advantages versus UK Consumer Payment Culture Latka pushes on why PayTaylor is not winning Estonia first, prompting Luhar to educate him on Estonia's lack of in-store mobile payment habits compared to the UK's mature market.2:26–4:39 · Guest disagreement 1/10 Introducing Guest Rode Luhar of PayTaylor Latka gathers baseline metrics on PayTaylor, quickly calculating that 40 customers on 10 euro monthly fees yields roughly $450 in monthly recurring revenue.4:39–8:01 · Guest disagreement 1/10 Startup Origins, Team Distribution, and UK Payment Inefficiencies Luhar explains the origins and transaction fee structure, while Latka probes into his personal runway and how the Estonian acquiring bank operates under the hood.8:01–11:53 · Guest disagreement 2/10 UK Expansion Plans and Entering the IoT Payment Space Latka challenges the logic of expanding to the UK after uncovering that the entire merchant network processed only 450 euros in total volume the previous month.11:53–15:12 · Guest disagreement 3/10 Estonian Testbed Advantages versus UK Consumer Payment Culture Latka pushes on why PayTaylor is not winning Estonia first, prompting Luhar to educate him on Estonia's lack of in-store mobile payment habits compared to the UK's mature market.2:26–4:39 · Nathan pushing back 2/10 Introducing Guest Rode Luhar of PayTaylor Latka gathers baseline metrics on PayTaylor, quickly calculating that 40 customers on 10 euro monthly fees yields roughly $450 in monthly recurring revenue.4:39–8:01 · Nathan pushing back 3/10 Startup Origins, Team Distribution, and UK Payment Inefficiencies Luhar explains the origins and transaction fee structure, while Latka probes into his personal runway and how the Estonian acquiring bank operates under the hood.8:01–11:53 · Nathan pushing back 8/10 UK Expansion Plans and Entering the IoT Payment Space Latka challenges the logic of expanding to the UK after uncovering that the entire merchant network processed only 450 euros in total volume the previous month.11:53–15:12 · Nathan pushing back 7/10 Estonian Testbed Advantages versus UK Consumer Payment Culture Latka pushes on why PayTaylor is not winning Estonia first, prompting Luhar to educate him on Estonia's lack of in-store mobile payment habits compared to the UK's mature market.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 99.7% · guest 0.3%0:00 · Nathan 99.7% · guest 0.3%3:00 · Nathan 29% · guest 71%3:00 · Nathan 29% · guest 71%6:00 · Nathan 30.3% · guest 69.7%6:00 · Nathan 30.3% · guest 69.7%9:00 · Nathan 41.6% · guest 58.4%9:00 · Nathan 41.6% · guest 58.4%12:00 · Nathan 41.4% · guest 58.6%12:00 · Nathan 41.4% · guest 58.6%15:00 · Nathan 78.1% · guest 21.9%15:00 · Nathan 78.1% · guest 21.9%18:00 · Nathan 99.4% · guest 0.6%18:00 · Nathan 99.4% · guest 0.6%
Sharpest disagreement ▶ 10:13 Standing firm on the real metrics

Luhar stands his ground against Latka's disbelief, stating that the data does not lie and confirming the total volume was literally 450 euros.

 Hardest push from Nathan ▶ 9:42 Refusing to believe total GMV figure

Latka repeatedly rejects Luhar's number, assuming they are misunderstanding each other because 450 euros is an absurdly low total merchant volume.

 Biggest teaching moment ▶ 12:15 Explaining payment culture differences

Luhar explains that Estonia is merely a testing ground because mobile payments there are limited to parking, whereas the UK has mature Apple Pay and Samsung Pay adoption.

 Nathan holds their own ▶ 10:42 Exposing near-zero merchant engagement

Latka breaks down the math showing that 20 taxis doing only 450 dollars means merchants are using the app barely once a month.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Guest Rode Luhar of PayTaylor 4112 Latka gathers baseline metrics on PayTaylor, quickly calculating that 40 customers on 10 euro monthly fees yields roughly $450 in monthly recurring revenue.
Startup Origins, Team Distribution, and UK Payment Inefficiencies 4213 Luhar explains the origins and transaction fee structure, while Latka probes into his personal runway and how the Estonian acquiring bank operates under the hood.
UK Expansion Plans and Entering the IoT Payment Space 7228 Latka challenges the logic of expanding to the UK after uncovering that the entire merchant network processed only 450 euros in total volume the previous month.
Estonian Testbed Advantages versus UK Consumer Payment Culture 6637 Latka pushes on why PayTaylor is not winning Estonia first, prompting Luhar to educate him on Estonia's lack of in-store mobile payment habits compared to the UK's mature market.

Statements from this episode (8)

Assertion Supported
PayTaylor Charges Merchants €10 Monthly Plus Two Cents Per Transaction
“A monthly basis, we charge 10 euros or 10 pounds monthly basis and two cents per, per each transaction.”
Rode Luhar Feb 20, 2017 ▶ 3:50
Assertion Not checkable as stated
PayTaylor Has 40 Paying Merchant Customers
“Right now it's 40.”
Rode Luhar Feb 20, 2017 ▶ 4:10
Assertion Supported
PayTaylor Has Raised €70,000 in Total Capital
“We have raised 70,000.”
Rode Luhar Feb 20, 2017 ▶ 4:27
Assertion Supported
PayTaylor Charges Merchants a 1.8% Fee Per Transaction
“Yeah, right now we have a 1.8, 1.8% per transaction as well, but we will cut it down, like.”
Rode Luhar Feb 20, 2017 ▶ 6:31
Disclosure
PayTaylor CEO Rode Luhar Pays Himself €1,000 Per Month
“It's approximately a thousand euros per month.”
Rode Luhar Feb 20, 2017 ▶ 7:41
Assertion Not checkable as stated
PayTaylor Processed Just €450 in Transaction Volume Last Month
“Right now it's like last month it was 450 euros. But it has been up to 1.2 thousand euros as well.”
Rode Luhar Feb 20, 2017 ▶ 9:30
Assertion Not checkable as stated
PayTaylor's Early Customers Include 20 Taxis and 10 Cheese Shops
“We have we have 20 taxis driving around, then we have, like 10 cheese shops”
Rode Luhar Feb 20, 2017 ▶ 10:31
Disclosure
PayTaylor is Currently Deployed in Four Pubs and Bars
“It's four.”
Rode Luhar Feb 20, 2017 ▶ 13:26
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