All is not well at CheQ
A little birdie tells me that they have burned most of the $10M they raised. No wonder they wanted to charge a processing fee on the bill payments.
They have just done away with the processing fee now. But too late now. I for one will never again trust a fintech with such shady practices. Gave them a chance earlier but they acted too smart for my comfort.
@LayMan What was shady? Charging a fee? Every platform charges for different things.
No, EVERY platform doesn't charge a fee for EVERYTHING.
Shady was the fact that they started off with zero fee, a few weeks later they started charging it, started devaluing their rewards, and have done away with the fee.
All within a few months, mind you.
I heard they're doing very well. They aren't even charging any fees now. Clearly don't need it.
Business 101
- They have run out of money
- Need to raise more money
- Need to show investors high customer growth
- Hence, did away with processing fee
But my point is, if they burnt everything then they can't afford to stop a revenue line
CheQ is dead for me.
What do you use cheq coins for ?? The current rewards or offers don't seem that lucrative to me