[gotostatement]

> Users pay a small fixed charge per withdrawal, regardless of the amount.

Really disappointed to read this. Wages are so low that working people can't pay their bills, so your solution is to lower their wages even more? There was another YC company like this but they were charging the company, not the employees. You may not be a loan shark, but you are enabling the company to pay low wages and offloading the cost of mitigating the problem to the already-exploited. This is ethically dubious, at best

[karinaderbez]

Employers or users can pay the withdrawal fee, that's up to the company. We encourage companies to offer it as financial benefit. Regardless, users love our product and see a lot of value in getting the flexibility to decide when to get paid. In contrast to other options in the market there are no interest payments or hidden costs.

[gotostatement]

I can see how in the short term it's a positive service - they can now keep their lights on, their water running, etc.

But as a long-term proposition, a permanent adjustment to the status quo, it just feeds into an exploitative system in the same way that loan sharks do. You're filling a gap that should be filled with higher wages, and reducing wages from the most-vulnerable to do so.

[jamiequint]

You're arguing for reducing options for people who don't have money to ... make yourself feel better? Surely them having an option to choose for themselves is better than no option, unless you think you know better than them (which would be pretty arrogant and small-minded of you IMO).

[samstave]

I agree with your sentiments, loan-sharks gunna loan-shark....

Though, if there is a good lining here, its not the retarded interest rates check-cashing and pay-day loan places charge... and thusthis seems a step in the right direction...

Although, I am also reminded of MONDO.COM

YOU CAN DO ANYTHING AT MONDO.COM!

THats what this BSP sounded like...

----

I wish them well though.

[Scarbutt]

To be fair to the GP, your video does say "Sin costo para su empresa", so that sounds like the route Monto is pushing.

[ano88888]

I think it is very predatory. You guys are "changing the world" (for the worse). We should encourage people to save not to borrow money with interest and spent. They will get poorer and poorer and can never get out. You are taking advantages of poor people. So I hope you fail.

[lowkey_]

Agree with you. If Monto only works with 'affiliated companies,' at least strike a deal with those companies to take the financial burden off of their low-wage employees. That other YC startup Payflow (that was actually ripping off UIs, to their detriment) proved it to be possible.