Hi Rick > Fidex: > How do you make your profit in such a setup? > Of course I don't mind you making profits. > But if you make none, I wonder about the catch. > Just my cautious nature.
Well for one thing we are waiving all fees associated with set-up, but of course there is a regular monthly fee. But the main way we are looking to make a profit on this is buying gold at spot rate which we can then sell through our Market Maker services at 4%. Finally, the debit card business is relatively new and we want to get the volume and velocity of funds to increase. Profits are small in terms of percentage, but they are there and the system is almost totally automated so if we can get a good volume going it makes us more money. We believe people who test our debit cards will like them and continue to use them, so we are keen to distribute as many as possible. > Others: > I always wonder how to validate merchants. > $500 is not an amount to easily book to just anyone. $500 I think is a fair figure for the client to show they are serious. Our actual minimum deposit is $150, but obviously if someone just deposits $150 then withdraws it and does nothing more, we lose money on the card issue. That is why we are asking for a $500 minimum deposit. We won't directly make a profit on that either, but we hope the cardholders will treat it as a serious business tool and continue to use it. > Anyone got experiences with this merchant? > Or, anyone knows a good general authentication means for merchants? Well that is for other people to answer, but we have been in the payment processing business since 1998 and I'm sure if you run an internet search, look on usenet etc you won't find any negative information about us. Best wishes Nick Fidex --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] http://www.e-gold.com/stats.html lets you observe the e-gold system's activity now!
