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Post on Medial

Basavaraja V

Stealth • 16h

Many people want to make big purchases online but don't have a credit card. At the same time, some credit card holders have unused credit limits. ConnectCred solves this problem by allowing shoppers to make purchases through a service that connects t

Yuvraj Divte

Stealth • 7h

some of questions: 1. Lets consider there are 500 credit card holder and 700 buyers who want to purchase with credit card. how system will choose which purchaser will go with which credit card holder without creating any bias. 2. How up front payment will work? ( you might use a system which are used in Indiamart where buyer pay to Indiamart and as the deal complete totally then they release money to seller) 3. How reward system will work. because as of now, all the reward and cash back is benefited by the person whose credit card getting used. (and here I'm taking about other than instant rewards and cash back)

1 replies1 like

Replies (1)

Basavaraja V

Stealth • 6h

Thanks for your questions. 1. Matching System: We'll develop an unbiased algorithm to match buyers with credit card holders based on availability and transaction history. This ensures fairness and efficiency in matching. 2. Upfront Payment: The shopper pays the platform upfront. The platform then notifies the credit card holder, and once they accept, the shopper's payment is processed. The platform holds the funds securely and releases them to the credit card holder upon successful completion of the transaction. 3. Reward System: The primary rewards, such as cashback and points, go to the credit card holder. However, we plan to introduce additional platform-specific rewards for shoppers, such as discounts on future purchases or exclusive offers, to incentivize their participation. These are preliminary ideas, and we plan to refine them based on further validation and feedback.

0 replies

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