Building Payrails: A Founder's Emotional Rollercoaster

again, back in 2010, it wasn't all about services, it was all about accepting payments.

So whichever the method is.

So I just want to accept payments as a merchant.

So I have clients, I have an offering, it might be a product or service.

So in exchange of delivering that value, I need to accept payments.

That's the whole objective of companies.

And there are multiple services offered by traditional companies to the degree of accepting payments.

So then that evolved, that need evolved around the evolution in e-commerce.

So there were different models introduced to the system.

Marketplaces, right? So marketplaces are different than traditional e-commerce in the marketplace world.

So you needed sub-merchants, you needed sellers, which you need to go through the KYC, KYB flows, onboarding flows.

Yes.

You need to split the revenue, so you need to do payouts, which wasn't the case for the e-commerce businesses.

Then subscription businesses.

You need

to store the credentials.

You need to put a schedule and capture the payments according to that schedule, agree with the end user.

So then...

Different models evolved.

So while the business models were evolving, so the localization was also bringing another layer of the complexity to the picture.

So here we are in UAE.

So the user behavior and expectations are completely different than Turkey.

It's different than Germany.

So in Germany, you cannot imagine e-commerce without offering PayPal.

It's impossible.