NP$ debit card

[snareklutz]

Seeing as there's now a NamePros domain registration system, using NP$, I don't see why a NP$ debit card wouldn't be possible! It would be great if the NP$ debit card worked similar to paypal's debit cards. The debit card would automatically detuct from account with a 0.016 conversion rate, and wouldn't work when you reached 0NP$. And for those people who don't wan't a physical debit card, they can chose to have a virtual debit card for online purchases, like the ones at www.webcertificate.com / www.money-around-the-world.com

Useful links:
http://www.entrepreneur.com/Your_Business/YB_SegArticle/0,4621,288987,00.html?category=inktomi
http://financial.wellsfargo.com/retailservices/CoBranded_visa_cc.html
http://www.citifinancialretailservices.com/private_label_credit_cards.php
http://www.r2sfinancial.com/
http://www.cybamall.com/mastercard/

 

[RJ]

Ya, I was just thinking about the NP $ cash back feature. 5% seems like a lot, yet for a $100 purchase, that would only be 5 NP $, which is only a couple of cents. I don't know how much you would want to raise it, but than if you did something like 5% of $100, which would be $5, and then converting that to NP $ at the 0.015 rate, that would be 333 NP $, which could quickly ruin the NP $ economy. It is an excellent idea, but it definitely needs to be thought about for awhile before being implemented.

Right, those issues would definately have to be thought out ahead of time. The cashback or rewards programs are able to be offered because the credit card company pays a certain percentage back to the card issuer. Like if the card company kicked NamePros back .5% of the transaction price, that would be $.50 we receive on a $100 purchase that we could convert into NP$ and give to the account holder. The NP$ would likely come from being purchased on the exchange or from our NP$ registration fund rather than created "out of thin air".

I'm really not sure what the credit card companies offer as a kickback to the issuers. Typical merchant rates are under 3% and then that is split between Visa and the issuing bank before a cut is given to the sponsoring company. My .5% is just a low end example.

On the topic, I believe our NP$ values have really been stablized by the addition of the NP$ registration system. It is becoming increasingly popular with members for registrations and as long as the rate for a registration remains steady around its current NP$ cost, there is no way the NP$ exchange rate can fall below .015/NP$.

 

[HFear]

Make it so that teens (13+) can use it

I don't think this is possible, debit/credit cards can only be used by people that are 18 years and above. Minors aren't allowed to use them, but hey, they don't check for your ID online, and I've never been caught anyway.

 

[ZuraX]

This would never work. Every site I seen that have started their own debit cards have had outragous prices. Like $1.50 to $2.00 per transaction at a ATM, $20 to $30(paid yearly) just to get the card, and some even have a monthly fee, usually $2.00, just for having the card. Thats 134 NP$ just for having the card each month. I doubt many of us get that much NP$ a month.

 

[deu12000]

Seeing as there's now a NamePros domain registration system, using NP$, I don't see why a NP$ debit card wouldn't be possible! It would be great if the NP$ debit card worked similar to paypal's debit cards. The debit card would automatically detuct from account with a 0.016 conversion rate, and wouldn't work when you reached 0NP$.

Completely unrealistic if somehow it was done that means namepros has to buy back each NP$ used at .016 and it could easily bankrupt anyone if it became popular.

Different idea, how about a standard credit card that you could earn NP$ or free domain credits by using it? Like the cash-back programs that many cards offer. This is do able.

It is do able but how popular can the program possibly be? If there was no or very low initial investment than I'd say go for it, but if the investment was high I'd say the investment wouldn't be worth justifying.

There are 18,474 members as of this post. Not all of them are active so we'll say just to give a good number even though it's probably a lot lower 5,000 are somewhat active. Then how many people are over 18. That drops the figure down to 500 or less. (Remember these are made up hypothetical numbers.) Then of course you have the people with bad credit or no credit that can only get a secured credit card. Now we've dropped to 350. Then of course the amount of people interested number drops again to 150. Anyway by the time everything is factored in there will probably only be a handful of people that would be interested.

Amount of investment needed is the main thing if it was very low cost or free to start up I'd say do it only because of low risk, but if it was expensive to do then I'd say don't risk it.

Anyway that's my cynical post for the day.

Don't get me wrong it is a cool idea and I'm actually going to look into it for myself, the cost at least. I'm thinking about going the pre-paid credit card route for some non-online business and see where that takes me.

It actually would be a good idea if you could offer pre-paid cards (for minors and people not interested in using regular credit cards) and regular cards for everyone else. I think pre-paid could be the most popular route due to the age of a large bulk of the people on this site.

That'd be awesome Make it so that teens (13+) can use it, maybe have a $20-$30 yearly fee that you have to pay just to have the card, but maybe for every $200 spent you get 1 domain registration (5% cashback) or hosting for a month? Parents may have to sign an agreement or something... I know I would sign up. Yearly fees will be donated to NamePros maintenance (server rent, etc.) and we could have our usernames printed on the credit cards (Ex, "Bob "vip-ip" Black) << lol

It would be a good idea if everyone had to pay a fee and another good idea would be the ability to fund it with PayPal since everyone no matter what age seems to have a PayPal account.

5% is an unrealistic cash back amount though. Maybe something like PayPal offers on their debit card 1.9% or something similar.

5% is not a lot, many credit card agencies do that. Imagine, RJ gets so much money invested, and he can base new businesses on that money. By the time he gives bac 5% cashback, he'll make twice as much. Just like banks giving you interest..

5% is a lot. No credit card companies offer a 5% cash back bonus because no store pays a 5% fee for a charge (like RJ said it's about 3%). Visa is not going to not charge the merchant and on top of that give you 5% and RJ's cut, that's just bad business. RJ wouldn't get the money directly I'm sure it goes directly to Visa or whatever the company is and they just toss him a percentage for what everyone uses.

This would never work. Every site I seen that have started their own debit cards have had outragous prices. Like $1.50 to $2.00 per transaction at a ATM, $20 to $30(paid yearly) just to get the card, and some even have a monthly fee, usually $2.00, just for having the card. Thats 134 NP$ just for having the card each month. I doubt many of us get that much NP$ a month.

It's not about the NP$ you have in a month if it's a debit card that can be used by anyone it's worth it to those that can't buy things with credit cards. The only thing stopping it is a limited user base to appeal to. A monthly fee is also ridiculous though.



A debit card funded by PayPal is definitely a good idea in terms of potential customers there is only one big problem though...FRAUD...PayPal fraud is very big and that's the only thing stopping this from being very successful.

Anyway these are just my thoughts I'm sure there are arguments that could go either way with the idea.

 

[ZuraX]

Heres what another site that started offer cards has...

Use your card at US merchants . and it costs you nothing.
POS terminals anywhere else in the world can be used for only $0.75.
Cheaper than many bank cards, US ATM fees are just $1.25
Global ATM access (outside theUS) is a low $2.95
$29.95 one time fee..
$2.95 is deducted just once a month.
Can be funded by Paypal.

They shopped around and thats the best they could get.

 

[deu12000]

If I was still a minor and had a PayPal account I would jump on that offer. Think about it a lot of sites only accept credit cards. It sounds like a good deal to me. Of course I have a whole bunch of real credit cards and can't use it for myself but I'm thinking if I was underage it would be a great deal (as long as I had money coming in on a regular basis).

 

[hotrod12]

Yeah I am a minor myself and it is hard to spend money on the internet. Of course I could borrow my parent's credit card but there is a limit to which you can do that and I have paypal too but I don't make that much with paypal right now though I am making some more money but the big money maker for me is adsense but that only accepts check and a bank account and I don't want to give my bank account information to paypal.

 

[TheBrigade]

...debit/credit cards can only be used by people that are 18 years and above.

wrongo

im 15, and i have one with bank of america

my mom is also on the account but, im the only one who uses it

 

[Humdizzy]

I don't think this is possible, debit/credit cards can only be used by people that are 18 years and above. Minors aren't allowed to use them,

Anyone any age can have a debit card. And any parent can create an add on credit card for their child.

 

[HFear]

I don't think this is possible, debit/credit cards can only be used by people that are 18 years and above. Minors aren't allowed to use them,

Anyone any age can have a debit card. And any parent can create an add on credit card for their child.

Yea, Mr. Bush stated that in his above post.. Thanks for letting me know though!

 

[snareklutz]

A debit card funded by PayPal is definitely a good idea in terms of potential customers there is only one big problem though...FRAUD...PayPal fraud is very big and that's the only thing stopping this from being very successful.

It's not an idea, it already exists! Got to Paypal.com, their FAQ/help centre, then search for debit card. Only for the US of A though.

 

[deu12000]

I have the PayPal debit card and the PayPal credit card (the credit card is from Providian). You also have to consider PayPal is a multi-million if not billion dollar company.

 

[snareklutz]

Getting a normal customised credit card that -RJ- was talking about shouldn't be too hard, lot's of small retail chain stores are doing it...

 

[labrocca]

I love my paypal debit card. If I use it as a credit card I get 1.5% of the purchase back IMMEDIATELY. You can't beat that.

 

[snareklutz]

Oooh, I think I might have found exactly what we need. I should have noticed this earlier.

https://www.webcertificate.com/webcert/corp_main.asp
Webcertificate allows coporate accounts. Coporate accounts have special features:

We've helped nearly 200 companies celebrate achievement, reward employee performance, and incent and acquire customers. Companies find our programs to be complete turn-key solutions for:
Employee Recognition
Customer Acquisition
Customer Loyalty & Retention
Rewards & Prizes
Sales Promotion
Survey Incentive

Also, they have a co-branded feature, where you can put your own logo on the webcertificate:
https://www.webcertificate.com/webcert/corp_custompro.asp
Lastly, webcertifiacte has something called webcertificate plastic, which is a real, physical card.