AsianPay - “Slow but safest Payment Processor”

AsianPay Co. Ltd was registered in Thailand on August 30th, 2005 and started its official operations on September 1st, 2005 after a 3 months pre-launch testing period. It was founded by Mr. Carlo Sorio – Italian, living in Thailand since 1999, Mr. Raymond Conduit – U.K Citizen living in Thailand and Dr. Corrado Prever – Italian, living in Thailand since 2003. The founders of AsianPay Singapore Pte Ltd are Mr Carlo Sorio and Danny Chua – Singaporean.

Why in Asia?

8 years ago Carlo Sorio moved to Thailand with the idea of creating an Export Business there. It is now a successful business under the name InThai Trading Co. Ltd that he still owns with the partner and co-founder Mr. Aldo Gonzalez Mendoza, at the moment living in Italy. Now InThai Trading Co. Ltd is owned also by Chiangmai Solutions Co. ltd., the second Company, founded by Carlo Sorio in April 2003 with Mr. Raymond Conduit, a highly experienced marketing man, now living in England that is also one of the three founders of AsianPay Co. Ltd The third founder, Dr. Corrado Prever, from Torino, Italy entered the team, buying shares in the holding Company, Chiangmai Solutions Co. ltd., in December 2004 and now he is in AsianPay Co. Ltd working with Carlo Sorio and Mr. Raymond Conduit.

All the websites of the company are done, technically managed and supported in house. AsianPay never lets third parties to access its web sites and data and this is one more important safety. The software and the project including the full code were developed by Carlo Sorio who is also a programmer.

AsianPay Co. Ltd is fully registered in Thailand and has all the incorporation documents in Thai language. The company has a license-registration for e-commerce business from the Thailand Ministry of Commerce. The registration certificate is always available from the website of AsianPay by clicking on the right top logo of the D.B.D. (Department of Business Development) that is the equivalent of the Commercial Registration Office in other countries. The logo links to The Ministry of Commerce web site so it is always updated and true.

The fact that AsianPay was established in Thailand is mainly explained by the circumstance that all the founders are at present time residents of Thailand. However such a situation turned out a good strategic choice. Thailand is a quite developed country with a good Bank System. Besides, the country is open for innovations and there are great possibilities to incorporate with Hong Kong or Singapore markets with much less costs. In addition the labor cost in Thailand is relatively inexpensive.

Interestingly, Thailand is not offering free-tax offshore solutions which may serve as a guarantee of honesty and integrity to gain high confidence in the market.

Chiang Mai was selected as the location of the company as it offers the same services that a business can find in Bangkok but without all the negative situation of the Big Capital. Nonetheless AsianPay has the head office in Bangkok after the business extension with the offices remaining in Chiang Mai.

What makes it different?

“Slow but safest Payment Processor” this is how AsianPay is defined by the CEO of the company Carlo Sorio.
“Well I strongly believe that no-risk money business and speed can not match. If you offer speed you offer risky transactions, if you slow down and verify the transactions you cut the risk. This is what we do and this is what makes AsianPay Payments different,” he says.

The system was intended as a Payment Processor Business capable to handle the problems experienced by Carlo Sorio with other online payment systems like PayPal, StormPay and MoneyBookers which are currently rival firms to AsianPay. Carlo Sorio wanted to introduce a system able to become a worthy alternative to standard gateway providers like WorldPay or 2Checkout.com.

All the members using a Credit card are certified with a very strict system that includes sending copies of documents and sending copy of the Credit card with a legal Authorization form that has to be filled and signed in original. When someone gets paid through an AsianPay button or when you pay someone through an AsianPay button both buyer and seller are really protected. How?

• AsianPay knows already both of them. Sellers can not use the merchant tools and buyers can not pay sellers if not verified.

With AsianPay credit card deposits are not registered as a purchase of goods but as a “Top Up deposit to the buyer account”. This means that by law the transaction is completed at the very moment AsianPay credits the buyer account with the credit card deposit.

Thus the purchase transaction is a transaction that happens later, and the Buyer Credit card statement will report “deposit to…” and not “purchase of”, so there is no possible claim with he Credit card Companies, and if the buyer tries anyway to claim, AsianPay has all the documents to successfully dispute the chargeback request. This provides protection to sellers.

Buyers are protected practically the same way. AsianPay knows its sellers and if any problem arises from the purchase there is a Claim center enabled where buyers can dispute an order. AsianPay will act in this claim center as arbitration if buyer and seller can not find the way to agree. Also an important protection is the consequence of a strict manual control the company operates on any transaction. When a merchant requires a withdrawal AsianPay checks any transaction involved with this member, and then holds the withdrawal request, if needed to protect a buyer for the time necessary to contact the buyer and figure out if the transaction has to be considered valid.

How does it work?

With AsianPay buyers may send money online from almost any country in the world. A customer can register an account for free, add a Credit Card, certify his/her account with AsianPay following one time only, easy and fast certification process and start to shop from the company’s Verified and Approved Merchants with the highest safety.

AsianPay users can shop without sharing their personal or financial information and even without having this information registered in the company’s databases. AsianPay will never charge your Credit Card without your full approval.

Your online purchases are protected and confirmed using VerifiedByVisa® and MasterCard® SecureCode® systems.

Among other things customers may buy Members Secure Card to always protect their account with AsianPay from unauthorized login or unauthorized use of the account and get special discounts from AsianPay’s Merchants plus get enrolled in AsianPay™ Rewards program.

Sellers can register their account fro free, add a bank Account or a Credit Card to follow the Verification process and when ready register their web site with AsianPay and start a safe and fast selling experience.
AsianPay’s merchants sell their products on their web site and take vantage of a full set of "Payments Buttons" and accept payments for single products or from a full catalogue with the built-in Shopping Cart system.

AsianPay Payments can be easily integrated in any Third Party Shopping Cart System. AsianPay also provides "ready to be used" modules for the most known carts system like osCommerce or CubeCart.

Comprehensive company

AsianPay uses a number of sites to offer its services. These are AsianPay.com, AsianPay.biz and ThailandGoldExchange.
AsianPay.com is an Online Payment Processor setup with the aim to build a safe community where honest people doing business on Internet can deal without worrying about the safety of their money or of their sensitive information.
Basically AsianPay.biz project was born from the understanding of a need for a new company capable to offer in Thailand and in the Internet Arena a new and honest opportunity to the many merchant looking for open an online shop and to be ready to offer their products to millions of customers worldwide.

Whereas, the ThailandGoldExchange is a Gold Exchange setup for the convenience of online communities to trade Digital Gold Currencies, that is to buy and sell Digital Gold Currencies, like EGold and E-Bullion.

Besides, AsianPay offers a full range of services including domain registration, domain management, domain parking, web hosting, web design, search engine submissions and E-marketing. Chiangmai Solutions Co Ltd aims and goals are to offer at very competitive rate a state of the art service, every new project and new website is always implemented by the company’s own PHP codes. No third party software.

“At the present time is very difficult to believe that you can find on Internet a Company that has as per the most important rules honesty and integrity. But this is what we are and what we do. We run our business with honesty and integrity.” Carlo Sorio, CEO of AsianPay