Credit Card: When a merchant has your credit card information, they essentially have carte blanche. They can initiate payments and so forth.
Pay by Bank: The merchant has no information about your bank. They can only send payment requests through LeetPay. We then initiate the payment when you authenticate with your bank and accept the merchant’s request. There’s no carte blanche here!
What I’m saying is as a customer, I perceive receiving a great deal of value by having it on a credit account that I pay later and not a debit account that I pay immediately.
Because the customer sees only the benefits of a credit card and the (perceived) increased risk of doing it through their checking account. You will need end customers to want to use their banking info in order to be successful.
That's not the vibe I got — and, even if so, why would they want to use this?
Also, the name of the service sounds like something cryptobros or gamers would use; it does not sound professional whatsoever.
Let me clarify a few things. It may seem counterintuitive, but we don't need your credit card information to process a payment. You'll be redirected to your bank's app to complete the payment, which is more secure than simply inputting your credit card details. This might seem counterintuitive at first because anyone with your card details could make a payment. However, with 'pay by bank,' you'll be asked to authenticate the transaction using FaceID or whatever method you use with your banking app.
From the merchant's perspective, statistically, you're more protected from credit risk because an ACH transfer is more likely to go through than a card payment.
As for market positioning, we ideally want to partner with businesses that operate in a B2B model. We only facilitate payments from end users to merchants - it's a one-way flow. But to be honest, we're still figuring it out!