WordPressNYC – MuCash launch

alright cool all right so I’m going to have a B’nai in Bend from mu cash hey guys well the name it’s a set up here and show you what we’re fully built I’m just going to let you know a little bit about it my name is Ben no its escape I am we’re the co-founders from you cash you cash is a micropenis platform and allows you to take transactions of any amounts all right down to a penny if you want to so we are actually watching our product today see you and to go along with that especially since you’re here we have a motion for you guys I’ll hand out these cars just a promotional code on it if you type the promotional code in when you sign out you get half off our commission for the first three months so offenders are so is that ok so I’m but so as been met your goal is to kind of make it so that your heating process transaction as small as you want through your WordPress blogs which means that it’s more than about it’s more than just like a providing a payment back in because if you’re trying to do a five cent transaction then you wanted to be absolutely smooth like it has to be a couple of clicks at most because nobody wants to go through shopping carts and jump to a lot of hoops for transactions that size so if you’ve done is you build a wordpress plugin that integrates with our backend and show you how that works so like this is an example of a blog that I set up unfortunately your plugins not on the it’s not actually in the word misread career some so then if I’m not gonna be a proof but it’ll be there shortly so for now what you need to do is go install the plugin and the URL is on the targets that then joining out here right now yep yeah it’s called new cash it’s it’s from the Greek letter mu which is it stands for micro in science and engineering English some people get it most people don’t that’s fine okay so install the plug-in activated it and all I / do now is there’s a couple of quick options to start so they just go into the admin panel all I have to do is basically set up a API key and site ID so to do that I’ll just go in here and sign up and as you can see it’s a pretty simple sign up form doesn’t get much simpler than that and all i ever do here is type in the name and you are my my blog and that’s it some done the sign up and I have my GI key and site ID so other than you do is go copy this thing in I just go back to the page where i was on and that’s really all there is to it so I’m already set up just just with just having haven’t done this much already have one interesting option so if I go look at any of the post on the blog what someone can do here is to leave a comment they can also choose to leave a small donation so for example if I go down here and say well I can also go and leave a leave an optional duration let’s say 10 cent and so the idea is that if it’s because it’s such small amount it’s not like you know asthma five dollars not the ten dollars idea is that every time someone interacts with you every time you post an interesting blog post a vid on the attract someone interacts with your site they might actually be willing to go and make a donation and of course these are these things add up so in this case you go I don’t actually have a balance so it’d have to go and add money my credit card so like that’s gonna tell me there I need to recharge my account which is a pretty standard credit card form but instead what I’m going to do is just log into another combat already has a balance yeah the first time they encounter a site but noone cares that need to sign up and put and say right now we let

people even put in a single dollar but an idea would be if we put in about five dollars and there’s a store value system but then once they have a new cash kind of works across every blog that uses us so it’s not specific to a given blog so I log in to log into another account which already has a balance on it let go back here the post comment it says my balance is nine dollars may attend sense and so now I post my post my comment in are also positive a comment here send this user donates donated 10 cents I currently there is a good option for that but I can very easily add that so if that’s something that people think that it is useful at the epidural better so that so that’s that’s one of the things you can do right now it always shows up but again people ask for that then that’s easy to laugh because it’s not a it’s not action store as a part of the comment text it’s stored as metadata so that you can always turn that off if you need to or change now it’s two squared yeah it’s sort of a comment negative so now the other thing you can do is actually so this is a completely optional donation you can also actually charge for articles so let me show y’all do better so if I go into one of the articles now that I have the plug-in installed I have a little little drop-down list that lets you set a price an article so let’s say I want to charge a quarter for this article so I go said that and then what the next thing I do is actually decide where I want to break which is done with a standard more time so i can just so just click where I want the article to break and and I hit the more tired so that’s just this value said mixed up in any other article and what this what happens here is now that I’ve done this the first time someone looks the article we just see the excerpt you’ve said in the state but mrs. pay 25 cents and it works just like they just just as before you click the button say pay 25 cents and you’re taking a full article instantly and now remember is that you have already bought this article’s if i go back to the site its action it’s going to know that i already have this and it won’t make me pay for that again it’s video its proper cookie and if you do if you do lose your cookie as long as you log back into your mew cash account it’ll it will remember everything so it’s it’s pretty similar assets and that’s all there soon yeah yes since the you know the uterus publisher okay so we do a no yeah we so we we are fully PCI compliant we like it in many cases even exceed what the credit card industry requires us in terms of encryption and and data protection and so on so that we never store any sort of customer information that sensitive unencrypted anywhere not even on our servers actually right now we don’t say that at all at some point with you chill their body at an option but it’ll always be completely optional so the commuter so we recharge publishers of commission when somebody makes a transaction but then there’s no business note here on top regards and we just had one flat fee oh it’s thirty percent regardless of the transaction so if it’s red of painting and we take one-third of a penny what sort of clothes you’re collecting emails and credit card information that was the name person right now we actually kind of make it completely anonymous or someone buying from you doesn’t even reveal who they are to you it’s just all that is hanging on the back end but that’s something we can explore adding the future not currently but that’s something we

definitely plan on adding the future as an option just type in your credit card information right there is the uh because what paypal charges is 2.9 clerks n plus i was at 25 yeah those thirty cents given if you’re really focusing on a quarter and like really small transactions like if it’s if it’s ten dollars and you’re probably not the right product for you we are really focused on these very small things that people buy on impulse and I can be done in practice I give very much a micro payments based system we’re pretty much in the wild west of micro payments right now people it was it was kind of popular back in the nineties where some people try to do it but I think that was just keep soon back then and there’s a few emerging players right now and I don’t think there’s anyone that’s actually established in the space here and so we’re trying to be come on quest so that I mean again look it’s there’s there’s room for a lot of different models with lloyd says for something like the times actually for most of their content subscriptions probably does make do make sense because news is something that’s a bit of a commodity like no one’s gonna pay it to read a specific news article it’s really hard to place a value on some things thank you i think if you look at one difference between now and advertisement crises are a lot lower now than the late 90s so it’s harder to monetize the site of just advertising our right I think the numbers I’ve seen advertising is now fifty percent just the last two years and quite a lot since the late 90s so so that’s one thing is that a site that could be profitable and just advertising very profitable back in the late 90s is no longer necessarily profitable and therefore and also with the advent of things like ipad apps and things like that people are getting used to spending more money online for a long time there was a mentality of everything online is great right and that’s an s starting to change a bit so that’s another thing that makes you know honestly like a lot of people don’t want to have ads in their site it’s more of a like a something they’re obligated to do to pay the bills because but it does come at a cost of his experience especially some of the new erotic formats where there’s pop-ups and pop unders and videos yeah so we literally are launching this today so we we have a couple blocks that are that are agreed to as it goes live today put us on their blogs and start using us but the we have not had five transactions right now Wilson we’re enabling the donations initially to get things started and then are going to as they get an article they think is worthy of paint or they’re going to you know they’re going to charge for that but because we be able to be able to do necessarily see it as being every article being walked into a wall again it’s that is some articles that you put an extra amount of work into this much higher quantity and averages don’t we actually literally flipped I’m flip the switch for okay what three hours before a game unit does that what is the mechanism where your release a Content it was it a spalte real world I’m not sure answer my question well say you know to download a high-res photo so people don’t jestem so legs okay so so are you saying like if if you have one on your site and you want to sell it to people how once they pay do they get the photo yeah you’s tricked these are also kind of ideas that we are just going out there because we want before we go a whole lot of features you want to gauge interest in kind of see so they can prioritize which ones people actually want so we’re pretty open to how that works but again depends you can set it up where they can I have the photo unless they paid you money in the same way as the post work right it doesn’t give it doesn’t link them through the rest of the article until

they actually make the payment through our platform the same way the post would allow it you know I mean are you saying how does it work from your end and the wordpress plugin or sounds or got me something you just said the plug-in is the way it would basically work and then and then they would click on the link what in one way it could work they would click on the link there click pay and then it would automatically download the file to them yeah it’s not exactly exactly but it would also call to make an optional if people feel like they just want to have it be optional learn we can pick it out that in yeah we want publishers to be able to set the price set the terms of the you know on how they give out there their works right right we will we will ya be contacting the New York Times once we have something on how it works with you guys are you good morning so at the end of NF every month we do a seh deposit into your account see you give us your rotten rotten number and Rick right now there’s a right now there’s a ten dollar limit that you have to reach ten dollars and the other thing to know in this is when they pay you so if someone buys a 10-cent article from you at that point seven cents goes into your account into your you guys you can’t well like people are even opposite or eight and a half cents in the first three months right you get the promo code right so so so so at that point you have seven cents and then it builds from there and at the end of anyone’s where you hit ten dollars that can be cashed out into a check we take the money when the transaction so the idea is that like when the plug’s action at me just take a flat commission and then there’s no other fees on and then whatever’s money is in your account is your money there’s no for you to get that out right until like wenzhou puts money to their economy let’s look at Eric RV we eat the credit card fees and all that so it yep so for you it’s really just one simple how do you know right okay if you log in here if you log in to your publisher a time you can see a list of all the transactions that happened just now who did the transaction right now and then also it could be fun adding a walk around and analytical teens you can like see which articles got the most sales and all the backbone so be gathering all the data we don’t have those tools yet but leave over chocolate we see where that’s not something I planned on going if that’s the thing you may want though we can definitely look at that I mean yeah I mean a lot of what we’re going to be doing over the next few months is having people using it and saying I’d like to have this data right and so we want to be reacted to the customers all over you guys you guys for the URL we deserve yeah yeah that’s my article subscribe exactly so I have a nice or anything I think nhe to be a reply that’s a great term what does that mean he tell us about security this hearing is that I’m giving you my credit card I’m tiny corporation today for I know who you are so tell us a little bit about security was showing all you guys we’ve done to me by for our patients livers feel like I said right now we go home store it at all which we really the sort of confirmation a call when we use like industry standard necessarily on not just on the credit card combo this gets water into our site so you’re not really vulnerable to like having a cookie stone where you’re at anything of that sort and we use authorize.net which is pretty much what the industry standard processing platforms and invited in the future when we do store credit confirmation our plan is to use I don’t know how much of aamir people here are ever on fri stalker but they have a way of storing it on there a place that will actually stored up a confirmation with them rather than rely on our our Silverstein secure so ssl forum then it gets sent to our eyes I think it’s exactly and then it’s too i don’t to give you a bit of background about myself I used to be CTO like OkCupid so have a good amount of experience working with large websites and keeping these secure and stuff like that so I don’t know that dope yeah I’m not currently but you’re open to yeah that’s the best long-term plan but right now I just kinda want to evolve the API internally so that you have something robust by the time you open it up to the world before we lock ourselves down to something but if you’re a developer

who’s interested in using it definitely contact us and we will evil will hopefully be able to make sure it works Oh as in how we’d be compatible with existing membership plugins no that’s ah are you saying having some of the people who come your cell you’re already members be able to see things free by other people not right so the members don’t have to pay by anyone else would have to pay is that what you’re saying okay so you have like a 50 cent membership fee or something like that all right I’ll behave pretty slippery opportunity set it to one dollar but there’s doing no reason why it is one dollar is just something we picked as a maximum and as we just because that’s someone that’s in the prop downloads I was just gonna say if you’re getting a lot more than dollars we talked about before if you’re doing ten dollar transactions you probably swine this paper out just because their fees are going to be way lower than ours are right so so if you’re looking at like large amounts like five dollars ten dollars things like that unless you just really love the way we work or something but you know we’re we’re not envisioning a ton of people flocking to us at those price points I supply it’s actually it’s it stores them in two ways so there’s a so that it doesn’t like to minimize the back and forth they do it actually also stores of cookie that’s tied into your it’s not really even tied into the County of Los Angeles just tied into a cookie desert for the website a Iran so if you have either either of those things in the guilty article which is an email address and a password but you can just type into that box when it pops up it’ll say you’re not logged in type it in and then you’re logged in it though a three person is hey hunt it either could be set up for a friend article it could be set up for a period of time like don’t show me ads on this site for the next month I’ll give you twenty cents don’t show me ads on the site for the next market but we’re not something that that’s something that probably makes more sense across the site than upon a single article there’s if you’re already on a page and you have ads loaded in people you don’t want to we’re always open to hearing what you guys think them and if you’d rather it the other way on your site that won’t let us now like something else I we are envisioning more long term as a lot of video sites play a little video clip before you before they need actual video but maybe could they let click a button a fire service just skip that and I’ve that’s really a win-win for both people are many cases in the area there’s a there’s a couple of other startups that are just getting started specifically on yeah there’s a couple of different models like some of them are focused only on only on donations or only on like there’s a site called flattered required let’s start with the Pirate Bay car is there is really is this in a slightly different model where someone pays five dollars a month and then it kind of divides it up among all the people that you make you mr. the suggestion here any other questions how does he wanted me to set up for a shopping cart boy teacher small medium large shopping oh sweet your knees where are we use the contact right again look it given the price points get talking about you’re probably not

selling physical good yeah I mean it’s not set up for that now but we could definitely look at a femen if you wanted to do that kind of thing we definitely could look into what you’re talking about specifically with that but we’ve kind of come across come come at this from the opposite perspective because because you’re looking at small transactions we don’t really want people to go through shopping carts order it really wanted to be quick I mean it’s gone two clicks right so so it’s almost easy and all the reason people try to do shopping carts in like a lot of the physical goods they don’t every time you run that credit card it takes that flat fee right that’s one sense that 25 cents they don’t want you to check out 10 times they want you to check out once right we’re with ours there is no flat fee so there’s no there’s no disadvantage to you as a publisher to have them just by this thing at this point and by that thing at that and I think that really support like being able to do that kind of supports it close by it’s more of them right you