- Country: Canada
- Industry: Internet, eBusiness
- Stage: Initial growth (first revenues)
- Investment size: $150,000 / min. $150,000
For years, the industry leader has gouged small payment receivers with fees approaching between ten and twenty percent of payment value.
Our goal is to offer payment relief to this niche, by way of a safe, secure, easy-to-use online person-to-person web-based payment system, launched in Spring 2010.
Focusing on servicing the small payments niche, the CashSender site allows people to send ad receive online payments, offering some of the lowest fees in the industry.
CashSender facilitates USD, CAD, GBP and EUR payments funded from users’ bank accounts in the US, Canada and Europe.
As payments are funded from users’ bank accounts instead of a credit card, the savings are passed on to site members by way of rock bottom fees.
For many online sellers, the recession has hit hard with decreased sales reported in most sectors. Everyone is looking to save money wherever possible, and the promise of offering online payment services with rock bottom fees (coupled with high security) is the raison d’etre of this venture.
PayPal (and other competitors) charge very high fees for lesser value payments. Their payment fee can easily add up to 10 or 20% for payments in the $5 and under range.
The CashSender system offers online shoppers 1-2% cash back with every online payment. Payment receivers pay a 2.9% flat fee to receive payments, with no extra fees for cross border payments, business related payments, foreign currency payments, or lesser value payments. A win-win for online buyers and sellers.
CashSender Financial Services Inc. was founded by Henry Tenby, of Vancouver, Canada in 2005. The company has been funded from the founder’s own resources, and it took several years for the website to be developed from the ground up, and for bank account facilities to be established in Canada, the US and the Euro Zone. Barriers to entry for this business are extremely high.
Today, the CashSender website is ready and able to help many online sellers save money with their online payment transactions. However, the founder does not have the financial means to take the company to the next level. Getting the word out to the media and social networks has proven very difficult.
Early stage investors are needed to finance the hiring of professional marketing help and increased social media marketing activities.
The online payments sector is massive and growing. Industry leader PayPal processes billions of dollars in annual payment flow, and no second place market leader has emerged. If CashSender can develop even a small following over the coming years, the potential return on investment for early investors will be significant.
If you are an investor, please contact us on Merar for more information.
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