A link with a payment system built in

By: Ask Bob, June 15, 2012

Apparently, as the story goes, the idea hit teenager Sahil Lavingia, founder of Startup, Gumroad, one fine day - would it not be great if he could send links to his friends a link with a payment system built in it? That germ of an idea turned out to be the foundation of his Startup.

Based in San Francisco, California, USA, Gumroad is on its way, the team, too, having expanded. So, what does it really do? Gumroad like the graphic below depicts, allows you to create, share & sell Online.

Gumroad has its own payment system built in which is provided to the seller. It allows buyers to pay through almost all the major credit cards & some debit cards, too. They claim it is safe & secure & does not store card information unless you open an account with Gumroad.

Here's how things happen: You create a graphic, you find someone who wants to buy it, you use Gumroad to share the buyer a link, buyer pays through credit/debit card & in turn, gets the graphic file downloaded to his PC.

For providing this service, Gumroad charges a commission - 5% of each transaction. Sellers are free to decide the price tag, it is not Gumroad's business. The service can be used by people in 190 countries, so it is almost universal. Also, you can even sell 'Real World' goods like a T Shirt & so on, using this Startup but not before collecting the shipping details.