Post by Mark
The guys from MyFatoorah got in touch with me back in August, they were interested in advertising on the blog and they also wanted me to try out their product so I could review it. Like I tell all my advertisers, I can’t promise you I’ll write about your product, but if I try it and like it then I probably will. After trying their service not only do I like it, but its now become one of the primary ways my clients are paying me. Just to be clear, this isn’t a sponsored post. Not that I need to explain myself but it’s one of the rare occasions I’m writing about a product which is currently being advertised on my blog with a banner, so I just need to point this out for transparency reasons.
MyFatoorah is an online payment solution and I’ve been using them to collect payments from my blog advertisers and from my clients whom I do freelance branding work for. Previously, the methods of payments I had available were bank transfer, cash or cheque but now I also offer knet or credit card payments because of MyFatoorah.
To begin using their service, the first thing I had to do was download the MyFatoorah app, sign up and add my bank information and that was it. No need to wait for approval, no need to send a copy of my civil id or anything of the sort, you can start invoicing people and collecting payments right away. Within the first 3 days I had invoiced and collected payments from 5 different people and the amounts got deposited straight into my bank account in less than 24 hours.
To invoice people its a fairly simple process, you open the app, click on “Quick Invoice” then you enter the name of the person you’re invoicing and the amount. You then click “Send Invoice” and you could either whatsapp or SMS the person the payment link. That’s it. All that person needs to do then is click the link you sent them and settle the invoice either by Knet or a credit card.
The service isn’t free, MyFatoorah make their money by charging a transaction fee. Their standard charges are 2% for Knet payments and 3.5% for credit cards, this means if you bill a client KD100, MyFatoorah will take KD2 if the client pays using Knet. The charges are negotiable though, for example I’m getting a ridiculously good rate cuz wasta, but depending on how much business you’re expecting to perform, you could contact them and try to work out a better rate. The way I also have it set up is, if a client pays me with Knet, I accept the charges, but if the client wants to pay using a credit card, they’ll have to pay the 2.5% charge. I like being able to decide that from within the app.
Now another surprising way I’ve started using MyFatoorah is collecting money from friends or family. So for example I bought some event tickets a few weeks back and sent out knet links to my friends to pay me for their tickets. My brother needed to transfer me some money and instead of setting me up as a new beneficiary on his online banking account, I just sent him an invoice for the amount and I got the money that way. It kind of reminded me of the app Venmo. When I was in the States last summer, everyone was using Venmo to pay each other. If a person bought movie tickets for everyone, then the group would pay that person via Venmo and I’ve been using MyFatoorah like that as well.
One final way I’m going to start using MyFatoorah is with a donate button on the blog. I’ve always kinda wanted to do that ever since I started blogging since it was a fairly common thing in the early days of blogging. But since I lived in Kuwait, there wasn’t a way to do that previously. Now I finally can although I’m like a decade late. Basically MyFatoorah allows me to setup a generic payment link which anybody can click on and pay me whatever amount they’d like. So if you want to donate money for my lattes for life fund, here is the [Link]
There are a couple of features I’d like to see in MyFatoorah that are currently missing. One feature is the ability to copy paste the payment link from within the app to an email. Right now the only two options I have to send an invoice is SMS or Whatsapp. To send a link to a client by email, I need to choose Whatsapp as an option, then when the link opens up in Whatsapp, I copy paste it back into an email. There will supposedly be an option to copy paste the link in the next app update, but as of now this is what I am doing. Another feature I’d like to see is the ability to setup an automated reminder email or message. Right now if someone doesn’t pay me, I need to awkwardly message them and be like “hey, how are you? Hope everything is well. I just wanted to remind you regarding the pending payment…”. I hate doing that so I’d like the app to send an automated reminder on my behalf say once every week to remind the person they have a pending payment. Like an annoying accountant.
So yeah I like the app as you can see. It’s great for freelancers and small businesses like me. The software has other features like the ability to integrate into your ecommerce store like Shopify or Magento, but I’ve personally been using it just to collect money from people. So if you’re interested in signing up, you can do so from their website or just download the app on your iPhone or Android device.