Fraud liability absorbed by a service provider isn't "zero fraud." It is: "you don't get charged directly for chargebacks and other financial penalties, but your brand is still at risk, plus you have no control over false positives."
"No more games. Save real money with Bolt's simple pricing."<p>Followed up with "Get a Quote" rather than displaying simple pricing...
This looks like a really well positioned and differentiated entrance into the payment provider market.<p>Eliminating fraudulent chargebacks addresses a serious pain point for a large market segment. It’s an angle that allows it to answer the “why not just use Stripe” from day one — which is a really hard question to answer with a just launched service.<p>Congratulations.
Since there's no demo's I had a look at a couple case studies..<p><a href="https://i.imgur.com/TBTF63h.png" rel="nofollow">https://i.imgur.com/TBTF63h.png</a>
<a href="https://i.imgur.com/HP0DNNg.png" rel="nofollow">https://i.imgur.com/HP0DNNg.png</a><p>It looks / feels like stripe but without the brand recognition, I'd hope it's more cost effective than competitors but having to contact them for pricing doesn't inspire confidence. I also don't see how this is any more frictionless than competitors. On the flip side I'm a little blown away by how big the team is and how many jobs they have listed considering it's only launched a couple hours ago - whoever bank rolled this has a lot of faith. Congrats on the launch either way.
What countries are you supporting currently? Is Mexico in that list?<p>Didn't see a FAQ on the homepage, nor found the answer on a quick search, so I'm asking here.
rbres, first off, thank you for sticking around and answering our occasionally snarky questions.<p>Second, what is meant by "Amazon-like checkout?" If that "YOUR BRAND" thing on the front page is a screenshot/representation of the service, it appears to be an AJAXy overlay over the normal site similar to what one of PayPal's three dozen or so integration methods does. I wouldn't qualify that as "Amazon-like" since it doesn't well integrate with the rest of the site in terms of look and feel.
So........ did you get a little design inspiration from Stripe's site? Maybe changed that background to a dark color and toned down the nuance a bit?
Judging from Crunchbase[0], it looks like this company did a pretty interesting pivot:<p>"Bolt is an online payments platform which allows users to make payments through digital currencies such as bitcoin.<p>Bolt wants to give e-commerce retailers a better shot at competing with Amazon."<p>Can anybody at Bolt talk about that transition? Why is there less focus on digital currencies? Any interesting success/failure stories of eccommerce companies using digital currencies?<p>Always happy to hear about successful pivots.<p>[0] <a href="https://www.crunchbase.com/organization/bolt-5" rel="nofollow">https://www.crunchbase.com/organization/bolt-5</a>
Consumer identity fraud isn't the only type of fraud problem that needs to be solved from the payment processor POV - there's also friendly fraud (when the customer is actually the owner of the credit card but claims fraud anyway), merchant fraud (merchants setting up bad sites and trying to steal funds), and collusion between merchant and customer.<p>It seems like Bolt is focused on solving the consumer identity fraud problem for merchants, but this biz models will 100% make them a huge target for fraudulent merchants to collude with customers to steal funds.<p>I guess I don't see how even an additional low single digit % fee will make up for false negatives. Assuming the company keeps .5% of the standard payment processing fee + takes an additional ~3% in fees on top of that, a $1000 false negative would require $1000/(.035) = ~$28.5k in additional processing volume to breakeven. This doesn't even take into the account the fact Bolt will eat the chargeback fee passed on from the network, so merchants with high volume/low average order value (think digital goods) will be hugely expensive for Bolt to service given they're making pennies per transaction but potentially paying 10x+ that per chargeback.
I have intermittent issues scrolling the fullstack job post (<a href="https://bolt.com/jobs/fullstack-engineer" rel="nofollow">https://bolt.com/jobs/fullstack-engineer</a>) in Chrome for iOS. Requesting the desktop site seemed to fix it. I was also able to get it working by randomly clicking the other postings and coming back. If I wasn't eating lunch I'd try to debug it better but it's easily possible this is only affecting my phone.
Am I reading the "acceptable user policy"[0] correctly in noting that any of the adult entertainment industries and those currently operating in the unknown at Patreon (Stripe), would likely not be welcome at Bolt either?<p>[0] <a href="https://bolt.com/acceptable-use" rel="nofollow">https://bolt.com/acceptable-use</a>
Our team did a pretty significant integration with Bolt last year.<p>Their platform is solid and was straight forward to integrate with. Their development team was also extremely helpful and helped us through the process at every step we needed them. They really did go above and beyond for us.
I'm so excited to see Bolt redefine the payment space! If they can successfully defeat fraud, make it easier for customers to pay, AND integrate other payment methods, etc. - then this will be a BIG win!
I confused this for CardConnect’s Bolt P2PE product [0], which is also in the payments space.<p><a href="https://cardconnect.com/bolt" rel="nofollow">https://cardconnect.com/bolt</a>
Why do companies choose not to be 100% transparent? Any time I have to contact a company to see more or a demo or, even worse, see pricing, I close the page and make a mental note to never work with them in any capacity. I feel this type of boycotting is the only way to change the practice.<p>I mean, you even hide your docs behind a password? How terrible. What are you keeping so secret? Does this translate to your other business practices? Mental note made.