It's always good to start the day with a smile, reading this thread made me crack up.
Thanks Pichardo, I needed that this morning.
Thanks Pichardo, I needed that this morning.
- Thread starter PICHARDO
- Start date
On the way to e-pesos/E-Money in the DR
If you keep posting the true points about the reality of the situation here and how digital currency will go over like a Lead Zeppelin or an Iron Butterfly, Pichardo is going to call you a naysayer.
Don't worry, we know better. Now back to the huelga about the new tax printers.
I am disapointed, last night I bought 7 "dulce de manille" (?) off a haitian guy that walks around selling them. As I had no change I thought I would use orange pay system.....
I was more than suprised he didnt know what I was talking about....... and even more when he didnt know who Pichardo was....:classic:
I was more than suprised he didnt know what I was talking about....... and even more when he didnt know who Pichardo was....:classic:
are you sure that was the problem, or was it that some of his e-commerce equipment was malfunctioning?
From the original post:
GCS International has developed mobile payment products such as tPago?, a solution that links bank accounts and credit cards to a mobile phone and enables merchant payments, airtime topup, bill payment and person-to-person transfers between multiple financial institutions with ease.
tPago? was launched in July 2010 in the Dominican Republic to great success.
To this date the product has penetrated 25% of the banked population in only 3.5 years. In this timeframe the product has amassed more than 432 thousand subscribers by the end of 2013 with a year-over-year growth of 40%. In its last year of operations it processed 13.7 million transactions making it the most successful mobile payments product in the region thanks to its average amount of transactions per active user. As a payment method, tPago? is accepted by more than 9,000 merchants across the nation.
Can someone...anyone....confirm that they have used this system?
Surely if tpago has penetrated 25% of the banked population, and the DR1 crew is a savvy bunch, someone can report on its success.
tpago.....m-peso.....e-currency......soon to a colmado near you.....right after they install those tax printers, the peso goes to 25:1, the DR returns to the gold standard, all the smartmeters are installed, all those new schools announced are actually built and equipped, after all those power plants announced are actually built and running, after the power is on for 24 hours....in a row, then and only then......maybe.
Respectfully,
Playacaribe2
GCS International has developed mobile payment products such as tPago?, a solution that links bank accounts and credit cards to a mobile phone and enables merchant payments, airtime topup, bill payment and person-to-person transfers between multiple financial institutions with ease.
tPago? was launched in July 2010 in the Dominican Republic to great success.
To this date the product has penetrated 25% of the banked population in only 3.5 years. In this timeframe the product has amassed more than 432 thousand subscribers by the end of 2013 with a year-over-year growth of 40%. In its last year of operations it processed 13.7 million transactions making it the most successful mobile payments product in the region thanks to its average amount of transactions per active user. As a payment method, tPago? is accepted by more than 9,000 merchants across the nation.
Can someone...anyone....confirm that they have used this system?
Surely if tpago has penetrated 25% of the banked population, and the DR1 crew is a savvy bunch, someone can report on its success.
tpago.....m-peso.....e-currency......soon to a colmado near you.....right after they install those tax printers, the peso goes to 25:1, the DR returns to the gold standard, all the smartmeters are installed, all those new schools announced are actually built and equipped, after all those power plants announced are actually built and running, after the power is on for 24 hours....in a row, then and only then......maybe.
Respectfully,
Playacaribe2
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I trust it, especially with everyone having jailbroken phones 3rdparty apps, and every 12 yo Dominican knowing how to hack a cell phone it will be a great industry for the island. if tourists get the great opportunity to do this, every "Offishal" tour guide will quadruple their income in the first week alone. Every merchant would be able to do the same, the DR govt will also be happy since they could now claim their taxes on totally legit transactions. foreign insurance policies will love this idea and be able to use it as a tax write off when the claim a loss on their intelligent Dominican travelers.
you mean that the minutos will be free, at last? i hope so. i hate it when they have to bipear.
miesposo uses tpago. no, i am not married to pichardo.
note that it says tpago is used by this segment of the population who have bank accounts. a while ago there was an article in diario libre stating that over 50% of all the adults working in DR is employed in a "grey zone". they do not pay income taxes, they do not use banking system either.
i expect the actual number of people who have bank accounts is pretty low. and of those who do have many just have a banking booklet, no cards, no online banking.
As someone who interacts daily with the poor, I can tell you that ecommerce will not work here unless there is a huge improvement in education.
Even though there is a La Sirena close by, which is cheaper, cleaner, and greater variety, most people purchase at the local colmado "FIAO". As to the prepay phone cards: most people don't actually purchase minutes for their phone until they actually have to make a phone call.
Life is about living in the moment: the future, even tomorrow, is too uncertain.
Heck, the government is trying to get businesses to install some blasted cash registers so that businesses will turn over to the government all of the taxes that they charge people, and businesses are shooting themselves in the foot by calling for strikes.
Imagine what would happen if the government tried to impose this: riots, burning tires, and who knows what else.
The idea will work for the folks who shop at Agora Mall, but it will never fly with the majority of the population.
(And I am not knocking Agora Mall, as I love to go there for the food court.)
Even though there is a La Sirena close by, which is cheaper, cleaner, and greater variety, most people purchase at the local colmado "FIAO". As to the prepay phone cards: most people don't actually purchase minutes for their phone until they actually have to make a phone call.
Life is about living in the moment: the future, even tomorrow, is too uncertain.
Heck, the government is trying to get businesses to install some blasted cash registers so that businesses will turn over to the government all of the taxes that they charge people, and businesses are shooting themselves in the foot by calling for strikes.
Imagine what would happen if the government tried to impose this: riots, burning tires, and who knows what else.
The idea will work for the folks who shop at Agora Mall, but it will never fly with the majority of the population.
(And I am not knocking Agora Mall, as I love to go there for the food court.)
Thanks!
I expect that the M-peso is to encourage people to have a bank account (mobile wallet).....but it begs the question as to why those 50% working in a "grey zone" would even consider adopting the technology.
I will give them "A" for effort.....but I do not see it as a viable plan......not for a long long time.
According to Indotel, the DR still has not met full basic cell phone penetration to its citizens....so upgrading to a phone that can handle and carry e-payments is a number of years away.....presuming it is even accepted by that 50% you refer to.
Respectfully,
Playacaribe2