New startup looking for opinions

[kjrillie]

My startup can be found at dividethebuy.com I am new to the forum but I decided to come here for feedback after reading a recommendation from Jeff Epstein on onstartups.com Thanks for your help in inadvance

[lantern]

This idea of payments plans/deferred payments seems very similar to how credit cards already operate. However, I could see this being viable if you offer low interest rates (I assume you'll have interest) and if your yearly membership fee is reasonable (I assume there is a fee).

Personally, I don't think I would use it. I prefer to spend within my means, and I have a credit card otherwise.

Good luck on your startup; it seems like this will be quite a large undertaking as you will be essentially acting as a credit company.

[kjrillie]

Thanks for comment... I hoping to do something similar to QVC and HSN'S easy pay... but your right it might be similar to a credit card which would be hard to implement so it might be better to start an online store on my own

[lantern]

Okay I think I see. So you're making a service like HSN's FlexPay, but this service will be available on any retail sites that opt-in to your service for payments. That sounds doable as long as you get retailers on board.

[kjrillie]

exactly...is the landing page not explaining this concept fully?

[sethito]

Just curious...will you be paying the retailers up-front and dealing with the customers or just be a middle-man and the retailers receive payment as the customer pays?

[kjrillie]

I would be the middle man but I would have a contract with retailers where if customers did not pay then I would pay their part and that customer would be ban from the site...my thought is retailers would feel more comfortable if it less of a risk for them also customers would only be able to do one payment plan at a time to decrease the risk on my side

[robotico]

I wouldn't use it personally, but it might be useful for some.

[kjrillie]

thanks for taking the time to leave a comment

[robotico]

NP - Good luck!