I spent 6 months building a FinTech Startup app (Idea, Demo, Stack, Lessons)

[@stefanreeves7219]

Payment fees are not a problem if you use open banking transactions are >€0.50 also you can integrate a payment gateway api therefore you would not have to register as a small payment institution then have the gateway hold the money first check they are a registered electronic money institution. ( something to look into)

[@WiredMartian]

Hey Stefan, this project’s initial goal was for the gateway to hold the money so that I do not have to register as a financial institution. So that I could also settle users on the gateway’s account. However, all gateways in South Africa have settle the money. They cannot the money for extended periods so that you cannot “piggyback” on them… Again for all the selected gateways, I could not get anything less than 2% per transaction. And there’s a settlement fee as well. Unless I’m missing something, this didn’t seem feasible for trying to save small amounts of money.

[@stefanreeves7219]

@@WiredMartian Hi there, the 2% fees are card processing fees open banking eradicates this fee as it goes direct from bank similar to bank transfer. I’m in Europe we have had this for a little while now but I have seen development only started in SA oct 22. Also the payment institution should be able to hold the money as escrow for an undefined period of time depending on their license. I hope this helps! You may just be a few months ahead of the curve in SA Edit: I am working on a similar project myself have the finance knowledge just got a steep coding learning curve 😂👌

[@WiredMartian]

Mhmm 🤔 I haven’t looked at the offerings in a while. I’m gonna check it out and see if it’s indeed in development cause that’d be great… 😂 Personally coding was the easy part, business, I find hard… Good luck to you

[@adeyemiodusina3826]

@@WiredMartian get a team and funding bro... you cant do it alone.

[@karryng6685]

Good works! Do you need any certifications or requirements of cyber security level for the payment App?

[@faizalmajeed2124]

very wonderful!! This is exactly the app i want as a face for my idea . i want to start, i was clueless where to start , amoment before but i feel glad im here..

[@WiredMartian]

😁 I’m excited you found what you’re looking for!

[@faizalmajeed2124]

❤

[@faizalmajeed2124]

what's the best convenience if i want to reach out to you...

[@WiredMartian]

@@faizalmajeed2124 You can do it by email

[@umidhesenzade7016]

I want to start this app,as well.But the problem is I don't know how and where to start.Could you give me some advice about the stages?

[@azemohdavipaul6804]

This looks like a lot of work. Great job man.

[@WiredMartian]

Thanks a lot man 🙏🏾

[@g-luu]

Do you perhaps have a list of these complaints and certificates required to handle user money? Would be helpful if you had a link to read up on these requirements.

[@WiredMartian]

www.fsca.co.za/Pages/Default.aspx This where being a Financial Services Provider starts

[@g-luu]

Thanks bro i will have a look. Looking forward to your next payment gateway integration. Perhaps try something new like flutterwave payment gateway.

[@experatrex]

I understand that there are a lot of fees and certifications u need to get , can u make a video telling us in detail what are these behind the scenes paperwork a fintech has to go through please . Thank you so much for this video. Good work my guy !!! ❤ u did what alot of people are trying to do for literally years !! 😢

[@WiredMartian]

Thanks bro, I appreciate it. Yea, I think my problem was just poor planning. I’m not sure if you’ve seen my follow up video which kinda of covers some certs and fees needed. Fintech startup: Advice and observations kzbin.info/www/bejne/qYC3lIZ7oaalaNE

[@experatrex]

@@WiredMartian this was the first video I watched . I ll check the other video ! I love ur channel man . Thanks !!

[@WiredMartian]

@@experatrex Thanks a lot man 🙏🏾💯

[@felaforever]

Looks great. What software or platform did you use to develop the app?

[@WiredMartian]

Thanks bro! I developed it with Ionic

[@christophercheok4814]

Good job mate, always love fintech but they do need alot proven to get user money. May i ask how much fee do you spend on google play just by upload it ? Some detail ?

[@WiredMartian]

Thanks bruv 🙏🏽… A Google Developer account is ~$30. That’s roughly how much a paid for the account and it’s a once off fee

[@g-luu]

Too bad cause this was a solid project nicely done. Tell me what resources/course did you use to get up and running ionic?

[@WiredMartian]

Thanks bro… I got up and running with Ionic cause I knew Angular from way back like 2018. But if you know JavaScript or Typescript, Ionic shouldn’t be a problem

[@g-luu]

@@WiredMartian ohk cool i will have a look cause i actually use Angular a lot being a South African and all. Just thought it would be different cause of dealing with mobile components.

[@WiredMartian]

@@g-luu Nah, Ionic is a website wrapped inside a Native Mobile container. It's basically a webview

[@uzairsaleem4734]

I am on the way building similar to this thing for my client. If you'd give some advice in the initial build out or apis related would be appreciated

[@WiredMartian]

Hey man, these 2 video might probably help you with that, kzbin.info/www/bejne/qYC3lIZ7oaalaNE kzbin.info/www/bejne/fZK3o2mQpdeIetk

[@wellnesswisdom333]

Why would someone use this as opposed to a traditional savings account?

[@WiredMartian]

The ultimate idea was the frequent “silent” debit orders as a form of savings. The idea is you saving without feeling the financial strain. That is, you’re not putting away a chunk of your salary, for example away to your savings once a month. Hope that makes sense

[@officialcipherr]

which programming language or platform do you use when you want to build a fintech application

[@WiredMartian]

It really depends on what you’re building. It could be any programming language… I used C#, Nodejs and Ionic (Angular)

[@starring709]

Great app! How is the market regarding that market in South Africa?

[@WiredMartian]

It’s massive. People still prefer cash or EFT on their trusted bank app. But it’s there

[@noelkitonga]

Its a well thought out app.

[@hyginusmecson1823]

Can you teach how design this too

[@WiredMartian]

I’m not where I’d start bro

[@Virlo]

Yo bro, I am in university right now doing computer science and I want to create the same app for South America. Not with creditcard integrated but only with p2p virtual money sending from wallet to wallet. And you can top up with mobile provider call credit. Only I do not know how to make a p2p system so that you can send virtual money to each others wallet without bank/provider in the middle just virtual numbers?

[@WiredMartian]

I think it would be quite simple without need a bank integration. You’d just need to define the value of your virtual money and what backs it up. But other than that, I think it’d just be moving numbers

[@gabrielfono844]

I think you did a great job

[@WiredMartian]

Thanks bro 🤝🏾

[@rodinymoise8248]

Let’s try it again I have an ideal And I’m sure you can help me bring it to life

[@WiredMartian]

You can start and pull me in

[@libcanbe2474]

Thanks for this

[@kennethexcellent]

How’d you create your app demo on the site?

[@WiredMartian]

It’s basic HTML + CSS website

[@hisgenerals3793]

Can you share the repos with me, I kind of need them for my project

[@hisgenerals3793]

@@WiredMartian yeah I saw that on your GitHub page. Still kinda need it

[@WiredMartian]

@@hisgenerals3793 I don’t know bro, I can’t just hand you 6 months of my work like that.

[@hisgenerals3793]

Alright thanks I understand

[@atheliteshouse3230]

I would love to connect with you, I like your skillset and find your 6 month and experience with building this fintech app to be beneficial to what I want to talk to you about.

[@nizambao4653]

I have built my own Start-up Tech company, I am kindly asking if you would assist me with marketing it via your KZbin channel.

[@WiredMartian]

I’m sure we can work out something. You can send me details about your start-up

[@nizambao4653]

@@WiredMartian I will do so. I noticed that you have so many viewers.

[@jorgeclemente7531]

Nice stuff would like to contact and discuss business

[@WiredMartian]

For sure, I’m open

[@jorgeclemente7531]

@@WiredMartian i have dropped you an email twice and didn’t get your response would you please share your possible contact

[@resaerpay]

Hi, i am also working on similar project, i would like to work with you. I had good planing and i built small team of people. It would be great if you could work with us

[@WiredMartian]

Hi, that’s great! Planning is very important! You can email me the details and I can have a look and review?

[@resaerpay]

@@WiredMartian Hi, I can't find you email.

[@WiredMartian]

@@resaerpay [e-mail]

[@rishabkhanna5493]

Hey Wiredmartian, I really like what you've built here. I'm working on a FinTech idea of my own and I'm really impressed by you. How can we get in touch?

[@WiredMartian]

I appreciate it man 🙏🏾… you can email me, [e-mail] and we can chat

[@Moyopheus]

I'm the Jobs to your Woz. You're a genius for going the fintech root. But you need to be channelling billions through your apps. We should talk.

[@WiredMartian]

You can email me brother

[@copriests1562]

Brilliant content. Useful to me at this time. Before i came across you video, I had 2 fintech ideas, that i didnt know how to proceed on. This video gives a lot of direction on the way to go. Big thanks @wiredmartian. Are you available for me to share progress and stages with you?

[@WiredMartian]

Thanks a lot man 🙏🏾! I really appreciate this comment. Yeah, you’re welcome to share with me for sure