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 email@example.com 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.