LiqPay: "We don't see any limits for our growth..." Exclusive interview

September 8, 2009 - 8:19am | Interviews | Payment systems |

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LiqPay: "We don't see any limits for our growth..." Exclusive interview

Q: Hi, could you please introduce yourself, your position within LiqPay?

LiqPay: Hi, my name is Alexander Vityaz, I am inventor, CEO and co-founder liqpay.com

Q: Could you tell us about your company? How did you manage to get your high position on Russian market and CIS? And how can you characterize e-commerce market of CIS as a whole?

LiqPay: Liqpay has been developing as project of Center of Electronic Business of PrivatBank, but at present time we are in the process of separating it into independent company.

We are creating our service standing on Titan sholders - which is PrivatBank (the largest Ukrainian bank), therefore we have already had quite high start.

Some of the things we have in-house, such as finance licenses, processing, fraud-monitoring, call-center, and that's why we can allow ourselves to concentrate on technology developing, but not on solution of administrative/organisatonal issues.

Our vision and Liqpay.com product is clearly shown on the scheme below:

Liqpay.com vision is in that principle, that if you have a mobile phone, so that you have already owned the account in Liqpay.com, i.e. as all 3 billiards of mobile phone owners in our planet also has.

Q: You specialize mainly in micro payments. Why? Are they more demanded?

LiqPay: I would not say that we are specializing in micropayments - average incoming transaction in system is about 120 US dollars.

But you are absolutely right - liqpay.com is really very effective for conducting micropayments and these payments are the essential part of on-us Liqpay.com volumes.

We are very well competing with SMS-billings in micropayments, since we are working with real money, so we have an order of magnitude lower fees comparing with payments from mobile phone account. Taking into account the dynamics of tranzactions, there is the demand for all kinds payments in Internet, so there is a right time to satisfy it.

Q: LiqPay exists long enough could you tell us about successes of your company?

LiqPay: Liqpay.com in it's present form exists from April 2008, I would say that Liqpay.com is still devilishly young and has very strong immunity, since, in fact, it has been built up at the height of the crisis :-)

Q: Do you plan to expand your coverage and go to other CIS countries like Byelorussia, Kazakhstan and etc? You have brilliant perspectives...

Liqpay.com from the early beginning was forethought as global international platform and today it successfully serves customers from already 30 countries. Penetration to CIS countries goes in natural way - firstly one merchant in country appears, then other repeat his actions, their customers start to pay and the process gone.

Q: According to your site you work only with MasterCard and Visa. What about online payment systems? Why not to introduce some of the processors to your service? So, for example Russian WebMoney is getting more and more popular not only in Russia but all over the world.

Liqpay.com is not only payment system, but and also Open Platform. Using our API's any payment systems and services (from virtual to real) are not only able to integrate but are also actively integrating with Liqpay.

As for WebMoney - hundreds of WM exchangers has been already connected to Liqpay and they perfectly resolving all cash flow issues between the systems.

Today tens of Online Payment Systems (OPS) are connected to liqpay, including gaming currencies.

Our strategy lies in maximum possible openness and flexibility of out platform, which will allow to create huge and various eco-system of services around liqpay.com

We provide basic services: identification on MobilePhone#, payment gateways Visa/MasterCard, P2P payments, Fraud control, platform and API. Everything else must be made by the market and by our skills to fill what the market needs.

Q: You claim that your system is secure. How did you manage to reach it?

Fundamental essence of Liqpay.com is in that we link MobilePhone# with Card/Account#. This ##Phone-Card link,

openness of Phone# and feedback via SMS turns Phone# into unique in its features public SYNONYM of Card\Account.

Using Phone# as synonym of traditional payments instruments in combination with OTP, creates the system with fantastic features - openness, security, globality.

Q: Your client support service works very nice but why not to put a direct contact or a client support form on your site to let your customers be in touch with you round the clock?

Our support is built on 2 ways of communications - online-chat and forum. And all customers' inquiries we are solving in online mode 24/7.

I am firmly convinced, that we have one of the best customer support system. (by the way - online-chat is also one of our projects - siteheart.com)

Q: Today banks launch various payment services? Don't you think that once you may feel lack of clients? How do plan to attract clients, by what means?

Liqpay.com technology allows to reach 3 billiard of customers, and I don't see any limits for our growth, except our energy and breadth of vision :-)

Actually, we consider banks as partners and this August we have launched range of APIs for banks. These APIs allow banks to connect to liqpay their infrastructure - ATMs, POSs, Cash-offices, Cash-terminals, Internet-banking and in this way to radically expand their possibilities.

There is an evident deficit of right online payment systems on the market today, and liqpay.com in our opinion solves the range of fundamental problems with payments in internet. Customers and Merchants understand that and actively vote for liqpay.com by their money :-)

We are planning to attract mass customers at expense of building co-brand systems with Banks and Mobile Operators (Operators of cellular communications). Mobile operators has "Virtual operator" service, and liqpay.com offers for Banks and Mobile Operators the "Virtual Banking".

And of course our API. 90% of traffic is generating via Twitter API, our purpose is similar. Simplicity of subscription to various functions will lead to rash development of liqpay.com eco-system: API attracts Merchants and developers, and they in turn attract end-users.

At the end of September 2009 we start joint marketing campaign with VISA intended for Liqpay and its API popularisation on the territory of CEMEA region.

Here is another example of development. One of liqpay.com function is possibility to create own billing for 3d party organisations. This October we will launch pilot project with network of 2000 Oil Filling Stations - Liqpay.com Billing will be used for accounting of consumers' fuel and discount cards, i.e. even truck drivers will be involved into liqpay.com :-)

Virtual billing on the basis of liqpay platform allows involving into the system the whole sectors of land and virtual economy - airlines, stores, games, social networks etc.
Long time ago everybody has become bored with taking with himself tons of different discount cards and I have already forgotten about airline miles I have earn with mine card :-)
Liqpay.com platform allows to link all these accounts to 1 single synonym - MobilePhone# - and make customers life easier.

Every day I am delighted with WHAT we are building :-)

Q: How has the world crisis affected e-commerce market in your region? What have you done to overcome it?

LiqPay: I think that e-commerce suffered from crisis less then all by completely obvious reasons - in this segment there are minimum expenses and maximum customer coverage.

Liqpay growths for tens of % per month, and we don't see any reasons for inhibition.

Q: What are your plans for future?

LiqPay: Very "modest" - to become the standart of internet and mobile payments.
Technology and vision of Liqpay.com organically continue the VISA/MasterCard business, not killing, but radically improving existing payment instruments, and open new horizons and measures for all participants of the market.

Q: Thank you for such an interesting interview. Hope to hear from you soon. Good luck!

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Comments on LiqPay: "We don't see any limits for our growth..." Exclusive interview

3 billiards?

Submitted by Anonymous on September 8, 2009 - 10:45am.

billiard:
1) game
2) number 10^15

Are you sure there are 3 billiards of mobile phone users (even in whole our galaxy)? ;)

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0 points

Sergio

Submitted by Anonymous on September 10, 2009 - 9:49am.

I'm sure:) 3 billion = 3 000 000 000, our population 6 600 000 000. So every second human in the world uses mobile phone. Sems like tru.

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0 points

3 billions != 3 billiards

Submitted by Anonymous on September 14, 2009 - 6:02am.

in article we see "3 billiards", not "3 billions"
3 billiards is quite big number, it's 1 000 000 times bigger than 3 billions

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0 points

seems like that guy was

Submitted by admin on September 9, 2009 - 3:25am.

seems like that guy was talking about far perspective...

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0 points

Channel for frauds.

Submitted by Anonymous on November 4, 2009 - 12:18am.

Hi, I am Anil Thomas and i made a payment for 55 euro for ukash voucher using liqpay service. I didnt got the credit and lost the money. Liqpay dont have any buyers protection and a boon to frauds. Customer service is really worse. Please find my chat with customer service below. Wait please, you will be answered by operator Operator Tizhnevij Volodimir Mikolajovich has connected to you. Hello, can I help you? You: Hi You: I made a complaint regarding a fraud merchant Tizhnevij Volodimir Mikolajovich: How can I be useful for you? You: Can i get any update regarding that case? Tizhnevij Volodimir Mikolajovich: Fill out the form Form successfully sent Tizhnevij Volodimir Mikolajovich: Thank you, one minute You: Ok Tizhnevij Volodimir Mikolajovich: in this case, we can no longer do anything because we already had a payment, you only need to take information from merchant Tizhnevij Volodimir Mikolajovich: at the site where the pay www.ukashvoucher.net You: But there is no contact information on that website and the person is still cheating others using your service i think You: if you have his details, let me know Tizhnevij Volodimir Mikolajovich: on the payment you must with your Merchant You: what does it mean? why cant you improve your english? Tizhnevij Volodimir Mikolajovich: our part we've done You: If that merchant is cheating a lot of persons using your service, you don't care? Tizhnevij Volodimir Mikolajovich: after we had a payment we can not do anything You: if that is your policy, a lot of peoples can misuse it no? You: Are you there? Tizhnevij Volodimir Mikolajovich: in this case, we can no longer do anything because we already had a payment, you only need to take information from merchant You: Can you block the merchants future payments and ask him to resolve this case as i cannot contact him. ---- No reply after that---------- Start chat:11:52:25 ID chat: 3073505 00:24:11

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11 points

Channel for frauds.

Submitted by Anonymous on November 4, 2009 - 12:20am.

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0 points

Michael

Submitted by Anonymous on December 8, 2009 - 9:48am.

Online Payment Systems Directory

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0 points

George Mitchell

Submitted by Anonymous on December 24, 2009 - 12:45pm.

Does anyone here knows anything about discussions of this system at their own ukranian websites? http://privatblog.com.ua/page/359841.html http://vityaz.privatblog.com.ua/400721.html http://privatblog.com.ua/page/356431.html http://dimaua.hiblogger.net/406785.html http://vityaz.privatblog.com.ua/401904.html It seems to be unusable and almoust all posters there hate it... My point is that's not good idea to use this so-called "service"! Best regards.

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LiQPay has NO CUSTOMER SUPPORT!!!

Submitted by Anonymous on January 30, 2010 - 1:29pm.

Their chat and forum support service is worthless. DO NOT USE THIS PAYMENT SYSTEM. Here is an example of my chat support with them: Wait please, you will be answered by operator Operator Belavceva Aleksandra has connected to you. Hello, can I help you? 10:33:20 You: I was logged off the server while you were assisting me 10:34:00 You: My credit card was charged but the payment was never sent to the merchant 10:34:29 You: Hello?? 10:34:35 Belavceva Aleksandra: Please specify your question 10:34:43 You: It is above 10:34:46 Belavceva Aleksandra: you have created a payment? 10:35:31 You: My card statement shows that my credit card has been charged but my merchant says he never recieved the payment from LiqPay 10:35:59 Belavceva Aleksandra: fill out the form, please Form successfully sent 10:36:05 You: I filled out your form during my last chat a few minutes ago before your server disconnected me 10:36:48 Belavceva Aleksandra: fill out the form, please 10:37:12 Belavceva Aleksandra: one minute 10:37:25 Belavceva Aleksandra: payment canceled 10:37:47 You: Not according to my credit card company whom I just called to verify 10:38:07 Belavceva Aleksandra: Your bank does not payment confirm 10:39:02 You: I already paid my visa on my statement.They recieved your request for payment and paid the amount 10:41:17 You: hello? 10:41:46 Belavceva Aleksandra: I do not see a new payment 10:43:36 You: There will not be a new payment. The old payment was paid by my visa card which they confirmed to you already 10:44:00 Belavceva Aleksandra: payment canceled 10:44:05 Belavceva Aleksandra: Your bank does not payment confirm 10:44:14 Belavceva Aleksandra: funds return to the card 10:44:39 You: Jan 01 LIQPAY (USD)-2 DNEPROPETROVS $197.36 10:44:52 You: that is on my credit card statement. 10:45:41 Belavceva Aleksandra: funds return to the card 10:45:44 Belavceva Aleksandra: Your bank does not payment confirm 10:48:53 You: I am on the phone with them and they did indeed send the money to LiqPay 10:49:15 You: You never did send my visa a cancel payment to credit the account 10:52:34 Belavceva Aleksandra: money back within 3 - 6 days 10:55:47 You: OK. So you are telling me that you are "resending" the cancel of payment and informing my visa company that I should not have been charged? 11:00:03 You: Hello?? 11:01:44 Belavceva Aleksandra: Please specify your question 11:01:57 You: OK. So you are telling me that you are "resending" the cancel of payment and informing my visa company that I should not have been charged? 11:02:30 You: Will you be notifying my credit card of the cancel payment to credit my account? 11:03:25 Belavceva Aleksandra: funds return to the card The dialogue is finished! ID chat: xxxxxxx Wait please, you will be answered by operator Operator Belavceva Aleksandra has connected to you. Hello, can I help you? 11:04:52 You: Why did you hang up on me?? 11:05:02 Belavceva Aleksandra: Please specify your question 11:05:07 You: ID chat: xxxxxxx 11:05:37 You: When was funds returned to my card? 11:05:48 You: Do you have a date and a transaction number? 11:05:49 Belavceva Aleksandra: money back within 3 - 6 days 11:06:13 You: From today or the day of the transaction that was back on Jan 1, 2010? 11:06:53 You: From today or the day of the transaction that was back on Jan 1, 2010? 11:07:09 Belavceva Aleksandra: From today 11:07:36 You: OK. Thank you. Is their a reference number or ID of this? 11:07:48 Belavceva Aleksandra: xxxxxxx 11:08:00 You: OK. Thank you for your time.

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0 points

TOTALLY frustrating

Submitted by Anonymous on March 4, 2010 - 12:53pm.

I used Liqpay a few time and getting it setup was not easy, but it was done, Now I have do verification all over again and support is totally useless they do not want to listen to you problem just do it now it is not their problem. Very disappointing look like very nice service but totally useless with out good support.