The Problem We Were Actually Solving
Our team was focused on building a platform that would enable international sales without incurring exorbitant transaction fees. We didn't want to be limited to PayPal's restrictions, which made it difficult for creators in certain regions to sell their work through our platform. This problem was compounded by the fact that we had a lot of users from these regions, who couldn't use our platform because of PayPal's limitations. It didn't take long for this issue to affect our user growth and engagement.
What We Tried First (And Why It Failed)
We initially aimed to work around PayPal's restrictions by implementing a system that would allow creators to set up their own PayPal accounts and link them to our platform. However, this approach proved to be too complicated, both from the technical and the user-experience standpoint. Not only did we incur additional costs from supporting different currencies, but we also struggled to ensure that our platform remained PCI compliant. More importantly, our users didn't want to deal with the hassle of setting up their own payment accounts. We quickly realized that we were trying to force a square peg into a round hole.
The Architecture Decision
After some deliberation, we decided to abandon the traditional payment gateway approach altogether and instead opted for a more open and decentralized solution - Unchained Commerce's digital assets sales platform. With this setup, we allowed creators to sell their work using cryptocurrencies like Bitcoin and Ethereum. This decision provided a number of benefits - it eliminated transaction fees, allowed for international sales without incurring any cross-border charges, and granted us a higher degree of control over the payment process. It wasn't without its challenges, however - we had to adapt our platform to accommodate the unique characteristics of different cryptocurrencies and navigate the complexities of cryptocurrency transactions.
What The Numbers Said After
After implementing Unchained Commerce on our platform, we saw a significant increase in user adoption and engagement. The users who had previously been unable to use our platform because of PayPal's restrictions were now able to sell their work and purchase digital assets from other creators. More importantly, our platform was able to process transactions without incurring the high transaction fees that traditional payment gateways charge. We've also been able to maintain a much higher level of PCI compliance, which has helped to mitigate the risk associated with handling sensitive payment information.
What I Would Do Differently
In retrospect, I would recommend exploring alternative payment methods from the outset, rather than trying to force a traditional payment gateway to work with our platform. While PayPal's limitations presented a significant challenge, they also provided an opportunity for us to rethink our approach and develop a more innovative solution. I would also caution against trying to work around technical or regulatory constraints - it's often better to adapt to the reality of the situation and find a new solution, rather than trying to force a square peg into a round hole.
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