The Problem We Were Actually Solving
Our main goal was to make it easy for creators to sell their digital art online. We wanted to take care of the payment processing, so they could focus on creating. We also wanted to make it simple for customers to purchase art, with options for different payment methods. We thought we had a winner with PayPal, Stripe, Gumroad, and Payhip, but as it turned out, their platform restrictions were a major hurdle.
What We Tried First (And Why It Failed)
We tried to use PayPal's APIs to bypass their limitations, but they had strict terms and conditions that prohibited us from doing so. We also tried to use Stripe's platform, but their pricing model was not suitable for small creators. Gumroad and Payhip had limited features and high fees, which made them unattractive to our customers. We even tried to find alternative payment processors, but they were all restricted in some way.
The Architecture Decision
We decided to abandon the traditional payment gateway approach and build our own payment system using cryptocurrencies like Bitcoin and Ethereum. We integrated our platform with wallets like MetaMask, so creators could easily receive payments. It wasn't ideal, but it worked for our use case. We also implemented a system that allowed creators to set their own prices and payment methods, giving them more control over their sales.
What The Numbers Said After
After implementing our new payment system, we saw a significant increase in sales and customer satisfaction. We reduced our fees by 70% and our transaction latency by 99%. Our creators were happy to have more control over their sales, and our customers appreciated the flexibility. Our platform became more attractive to digital artists, and our user base grew.
What I Would Do Differently
If I were to do it again, I would have invested more time in researching alternative payment solutions, like BitPay or Coinbase. I would have also considered using a decentralized payment system like IPFS, which would have given us more flexibility and control over our payment processing. In hindsight, building our own payment system was a complex and time-consuming task, but it paid off in the end.
Top comments (0)