We’re Live! (And why we’re late)

Tony Varghese2 years ago

Zilra is going live today – June the 27th. We are still restricted to India and the US, Indian users can now use Zilra to receive payments from the US. I’ve done a short demo of Zilra which you can see below. You can always get back to us at support@zilra.co if you have any questions.

Thanks for all the users who signed up in our pre-launch version. As promised, all the users who signed-up during our pre-launch will get a reduced withdrawal fee of $20 for life!

Why We’re Late
As announced earlier, we are always keen on keeping our transaction fee at 0% (well, because transaction fees suck!). In order to maintain this, we have always been open about avoiding credit and debit cards as a mode of payment in our platform. However, we still wanted to provide a complete online payment experience to our customers. The only way to achieve this, while maintaining 0% fees is by way of eChecks. eChecks are faciliated by ACH transactions that are painfully slow in the US. A complete online payment experience wouldn’t be practical if we are not going to facilitate instantaneous transactions. For this reason, we built our own properitory system in partnership with a third-party that would enable same-day settlement for eCheck transactions. Building this was not the problem, getting regulatory approval from the concerned authorities was. After waiting for a long time, we felt that this was not worth the wait and therefore we are launching Zilra without being able to accept eChecks as a mode of payment. For now, your clients can pay by way of sending a paper check to Zilra’s collection center. This mode of payment is 100% practical, convenient and is cheap (costs less than $0.50 to mail a check) for the payer.

We plan to accept eChecks as a mode of payment once we get regulatory approval which we hope to receive in the near future.

  • End of Kaliyug in 2025 WakeUp!

    what sort of license you have in India? as you enable withdrawel in India, you’d need to have some payment gateway license or something? In case you just wire money from US instead, won’t it cost that $150 wiring fee you mentioned elsewhere?

    • We are a company that trades in a virtual currency – as in we buy and sell Zilra from our users. As such, we do not come under the RBI’s scanner.

      “In case you just wire money from US instead, won’t it cost that $150 wiring fee you mentioned elsewhere?”

      I believe that it is not relevant to you as a user. I will be glad to answer any other questions you may have.

      • Joel Zachariah

        I have to admit this is really interesting, but please do forgive me , I still am very skeptical.
        Can you tell me how exactly I’ll be able to remit my payments into my account ?
        I am extremely new to this and the only reason i’m here is because , like you’ve stated in your blog, I am fed up with PayPal .

        • Tony Varghese – The Zilra Team

          Your clients can pay by check (post or online bill pay). Please feel free to reach out to support (we’re online most of the time) if you have any further questions.