[getmetheswan]

The challenge is storing money, legally, on behalf of a customer. No normal startup can afford to get licensed.

So you need to legitimately work around the 'stored value' problem, i.e. you need to find a 3rd party with a legal solution. That's either a real bank account or a prepaid card. And the 3rd party has to have an API that allows you to open accounts, execute transactions, etc.

The card program requires a bank partner too. And card programs cost 10K+ a month to run, regardless of whether or not you have 1 card issued or 250,000. Lots of cash burn early.

So that's the target state. Johnie outlined some nice interim steps below, but this is not simple. Oscar took on a challenging business problem.