Camilo Acosta, CEO of PayByGroup, explains the monetization and fee structure of his group payment checkout software.
0:00 / 0:03exact quote · 3.6s
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“It's free for the organizer, but everyone that you invite is going to pay 2.9%.”
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More from Camillo Acosta
Insight
Acosta: Total payment volume beats user count as a fintech health metric
“Because payment volume is, is, is a better indicator of company kind of health than number of people. Because you know, you can have few people spending a lot of money versus a lot of people spending a little small amounts of money. We'd rather have less peopl…”
Camillo AcostaDec 2, 2016▶ 7:30EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta
AssertionNot checkable as stated
Acosta: PayByGroup has handled group purchase splits up to $30,000
“We've had 30,000 dollar purchases that get split.”
Camillo AcostaDec 2, 2016▶ 4:58EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta
AssertionNot checkable as stated
Acosta: Over 300 merchants use PayByGroup
“We have over 300.”
Camillo AcostaDec 2, 2016▶ 7:13EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta
AssertionPartly supported
Acosta: Average vacation rental booking is $1,500 to $2,000
“1500 to 2000 dollars is the average vacation rental.”
Camillo AcostaDec 2, 2016▶ 7:03EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta
Disclosure
Acosta: PayByGroup is neither raising capital nor trying to sell
“No, no, no, we're not, neither, neither raising nor selling. The goal is really to just build a big business.”
Camillo AcostaDec 2, 2016▶ 13:00EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta
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