Acosta: Total payment volume beats user count as a fintech health metric
Camillo Acosta · EP 496: PayByGroup $3.4M Raised, $10m in Transaction Volume to Help Groups Pay with CEO Camilo Acosta · Dec 2, 2016 · at 7:30
Camilo Acosta, CEO of PayByGroup, explains why his company tracks transaction dollar volume instead of unique buyer counts.
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“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 people spending lots of money versus tons and tons of people.”
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More from Camillo Acosta
Acosta: PayByGroup charges invited participants 2.9% and is free for organizers
“It's free for the organizer, but everyone that you invite is going to pay 2.9%.”
Acosta: PayByGroup has handled group purchase splits up to $30,000
“We've had 30,000 dollar purchases that get split.”