[sudshekhar]

Thank you for the encouragement. I hope you get to use this app on your next visit.

> charge a lot more and make it a lot more convenient.

We're trying to introduce doorstep verification services. And establishing good unit economics is definitely our current biggest problem.

50$ will make our investors very happy but then customers might complain.

[shri_krishna]

> 50$ will make our investors very happy but then customers might complain.

Look at the pain points of customers. It is obvious they are willing to pay higher price for convenience. Anyone visiting India would not complain about $50. Especially since you say it is a one time fee for opening the account. You need to rethink your price. You can even make it an annual fee so you have consistent revenue. The current pricing model is nuts. $10 is too cheap for foreigners.

EDIT: You write elsewhere that there is a markup of 3.5% on top per transaction. Is this credit card fees or your own markup on top of the credit card fees? If it is the latter, then I would advise you against it. Rather take 1 time payment annually ($50 or even $100) instead of 3.5% markup per transaction.

[sudshekhar]

The 3.5% is basically the international credit card markup, cheq doesn't make any money on this.

A flat $30-$50 fee will easily cover for most of these costs though.

We can cover the 3.5% markup plus provide doorstep verification service to customers

Thanks for the suggestion. We'll definitely try a variant of this soon

[shri_krishna]

Even if you put a flat $30-$50 fee, make it have limited validity (with an expiration date). Like you have in SIMs. Many foreigners buy throwaway SIMs on arrival. Most of these SIMs have limited validity. You can use the same concept here as well. It makes no sense to charge a flat fee for eternity. Also, coming to think of it, tying up with a SIM provider would be a great idea. In the same kiosk/booth, foreigners can purchase SIM as well as get a Cheq verified account. You can share a % revenue with SIM provider and not have to hire extra staff. The SIM provider would have all the necessary setup anyways for physical verification. Just reuse that setup.

[jrumbut]

> 50$ will make our investors very happy but then customers might complain.

I definitely am suggesting a higher touch service, so you're providing real value for that higher price and can keep the $10 service for the budget traveler (that would be very nice of you).

That said, there are a lot of moving parts and surprises when starting a business, so keeping it simple to start makes sense.

I just want to encourage you as someone who has suffered the pain point you're describing to think big and realize that there is a segment of your audience who is willing to really spend money if you can offer them convenience and time-savings.