If you will use AsianPay or not it will be your choice.

I personally have a 7 years history on Internet being scammed from Paypal, StormPay, IntGold and never having scammed anyone , nor I never invested in HYIP ( I don’t believe in them). From all the people who know me, I’m considered an honest Entrepeneur and I always run my Businesses with honesty and integrity.

I live in Thailand from 8 years, I own 3 Companies, not only Asianpay Co. ltd., my name and my telephones and my addresses are published everywhere on Internet as well as our Companies information.

We display on Asianpay Co. ltd. web site all the required licences and authorizations including the one from the Thailand Ministry Of Commerce and are visible to anyone that just take the time to visit our web site with a lttle bit of attention, thing that it seems you did not.

believe it or not we are a real Company, Asianpay Co. ltd. is owned at the majority from our Holding Company Chiangmai Solutions Co. ltd. ( if you want tos ee a picture of our offices main entrance you can see it here: www.chiangmaihosting.com/english/aboutus.htm

Chiangmai Solutions Co. ltd. run Internet businesses in Thailand from years and we are a respectable Hosting and web design Company.

The third company we own is a 7 years old export Company with Customers in USA , Eurpe and many other countries and eberyome knows me as well.

Do you think we are going to BS our customers and to close down our business for some thousands of dollars of the Investors Corner.?

You have mentioned EMO and IntGold. evenetually the investros corner idea is more similar to what StormPay did in the past offering interests in echange of investment in the business.

And to clarify about our offer that you consider too high or not real just look at the example here below.

Let’s say we move in one month ( 4 weeks - 20 to 22 business days) US$ 100,000.

This is just referred to the movement related to egold in and out so deposit by Credit card or wire transfers to buyegold and egold withdrawals
We do not consider the fees we receive on deposits ( US$ 15 on WIRES - 4.95% 0.29 USD on Credit cards). We just consider the fees we apply on egold withdrawals 4%

Now the investors corner has the only aim to raise cash flow to run the egold exchange business ( to grow our cash flow and to get us out of the “exchangers tour” where we have to pay a lot to buy egold value and our profit on egold sales become very low).

WE DO NOT INVEST, WE DO NOT HAVE TECHNIQUES TO GENERATE PROFIT FROM STOCK OR WHATEVER. WE ARE NOT AN HYIP.

It is like if you have any kind of other business and you ask to your friends to loan to you the money needed to improve the business in exchange of part of the profit and with the guarantee to get back the principal at an established time. If you friends and relatives trust you and your bsuiness you will get the money. Then you have to use them for the business only, with honesty and integrity, and not to go around on holiday.

Now back to the example: US$ 100,000 divided by 22 days results in US$ 4,545 daily that make us to profit US$ 182 daily( 4% fees on egold withdrawals). And again we calculate only the egold fees.

If all the investors was going to choose the highest profit plan ( 72 weeks VIP plan at 1.50%) we was going to pay in interest for these US$ 4,545 the amount of US$ 68.175. As you can see less then half of our profit.

So what is missed and should be understood:

1. Our plans have limits. If we reach the amount of money that cover our turnover we do not accept new investors. This to avoid to have money sitting here that do not generate profit while we pay the interests.
This is what make it different. An HYIP needs new investors daily basically to pay the older ones. We need the business to grow and the Company to make profit but there is no way to loose the principal so the worst can happen is that if the business will not grow we will simply close the plans, payback the principals and that’s it.
2. We do not compound interests because our profit are not compounded.
3. There is not risk to loose because when we spend the money you give us in egold we have the money here in cash from the members that deposit and requested the egold withdrawal. This why we say that the money are always here in AsianPay. This does not happen when you invest in a HYIP. If the owner is serious about that business, money goes for real invested in different ventures. If he/her is ascammer you just loose from the beginning.

There are still many things eventually to say, but sorry, the time is limited.

Hopefully you are not like someone else that likes to be against whatever people say.

One last thingh. Yes Asianpay could remind EMO especially in the way some features are managed. This beacause I personally always thought EMO was the best way to manage a payment processor even if with some differences we havre. But the web site design and everything is truly original and the software also, because the software is mine. I’m the one that wrote it starting 3 years ago. it has been an hard work, so please avoid to … bs … me and my business letting people to thinkw e have copied. There is nothing to invent in the payment processor business and if you look at Stormpay, Alertpay, PayPal and others, behind the logos and the design everything is the same. Asianpay is not!.

And the real last thing: we still had until a few days ago 360 USD in IntGold, and not only we lost them and the last transfer to IntGold debit card, bu we was also receiving funny emails advising that opur interest have been paid. That’s something that will never happen to an Asianpay Customer.

Next time, before to write sentences: make a due diligence or call me at 66.53.434651 in working hours. I will be pleased to speak with you and answer to your doubts.

Kind regards

Carlo Sorio
President & CEO
Asianpay Co. ltd.

Hello everyone.

I'm new to this forum and personally I'm not used to surf or participate in HYIP forums. Definetely, I'm not in HYIP and with AsianPay we do not allow HYIP business to use our system to collect money.

This post is just to clarify my "vision" that at the present time is our Company "Vision", right or wrong I don't know and the future will tell us, as always has been for a new venture, where you do not spare any effort in building your Business with honesty and integrity, but until you know the results, you can not say if your Business Plan or your ideas, or your dreamd will become true.

So I will try in quite simple way to explain here why we are different and why our Investors Corner is not an HYIP.

Starting with an HYIP definition that I hope you all can agree with:

HYIP stands for High Yield Investment Program. HYIPs are investment programs normally offered via the Internet. HYIPs are popular because they typically accept investments of $100 or less while offering high returns. The introduction of e-currencies such as e-gold and StormPay (although almost all HYIPs do not use StormPay as of February 2006, see StormPay article for why) has made it easy for HYIPs to operate across international boundaries, and to accept large numbers of small investments. Many HYIPs have turned out to be scams. Scam HYIPs are Ponzi schemes, in which new investors provide the cash to pay a profit
to existing investors, which they could then withdraw leaving nothing to pay the new investor. This approach allows the scam to continue as long as new investors are found and/or old investors leave their money in the scheme, known as compounding (because even higher profits are promised). The turnover in HYIPs is high. For example, one website that links potential investors to active HYIPs has a "blacklist" of more than 500 HYIPs that have gone out of business. HYIPs are frequently advertised in spam emails, forums or mailing lists, since people are typically given a commission (for example, 9% of invested funds) when they provide a referral of a new customer. HYIPs typically are not based in the United States, Europe, or Japan - countries that have strong laws against unregistered investment programs. HYIPs disclose little or no detail about the principals, management, location, or other aspects of whom is getting the money to be invested, and relatively little information (other than asserting that they do various types of trading on various stock and other exchanges) on how their investment programs actually work.

So what has Asianpay in common with the above definition? Absolutely nothing. And in particular we are completely different fro some very clear points:

1. We ARE NOT AN OFFSHORE COMPANY. We are registered in Thailand, and you can easily do a full Due Diligence from our web site that offer any possible link to all the government agencies and financial agrencies that have verified us. We are not offshore because we have our administartive offices in the country where we are registered, we do our Business in the Country where we are registered, we have our head offices in the Country where we are registered, we have Thai staff, we pay salaries to Thai staff, we pay tax in Thailand, I'm officialy residing in Thailand, with work permit and eprmission of stay, I pay my taxes here, I have the social security here. This onloy should be enough to proof we are not speaking about an HYIP Company but..there is more

2. We do not trade in stock exchanges, we do not trade on the market, we do not offer securities of any kind nor we sell securities not we exchange securities.

3. We do not hide anything about us: all the information about our Company are fully displayed on the web site with full addresses, telephone numbers, faxes and if you surf a little bit you will find also information about our full business that is not only Asianpay, being Asianpay Co. ltd. owned from Chiangmai Solutions Co. ltd. that is our holding Company doing business in thailand from 3 years and that own also InThai Trading Co. ltd. ( my first Company, 7 years old) that is established and well known in the export business of Thailand products and Handicrafts.

I know all the above sound new to you: HYIP people are probably not used to deal with such a clear REAL BUSINESS and this is how the things are: if you honestly display and share all your information you are less trustable that the ones that keep them hidden.

This is why probably in the last 4 days, from when we launched our Investors Corner, so many people are speaking about us as a new HYIP privately managed from our Company and because we are not an HYIP and you can not read our offer, and evaluate our business like an HYIP, I'm not surpised reading comments that consider impossible what we are doing. The first important thing to understand The Investors Corner is

4. The Investors Corner IS NOT AN HYIP.

5. In the last 24 hours I have thought a lot and I'm thinking to change many wording in that web site section and probably the name itself: if it was called "Please Get Us A Loan", probably no one was discussing it already.

6. Yes a Loan. Because practically this is what we are doing. A little bit of histroy to explain. We started Asianpay Payments in June 2005 with the aim to cover some needs for honest merchants and small businesses not only in Asia but worldwide. We had about 3 months testing and we have really opened the full business including Credit card deposits in September 2005. Is well known that many Asian Customers have a good aknowledgment of egold exchange business and related businesses. We was pushed from the members on one side, we was pushed also from some of our shareholders on another side (because Asianpay has 33 shareholders from almost 10 different countries in thre world - real shareholders, that paid the shares and that have vote rights) and we decided to add to the standard Payment processor business the egold exchange business trying to offer egold deposits and withdrawal at the lower fees. In the beginning we was accepting deposits from PayPal, Egold, IntGold, MoneyBookers, Emo and Credit cards. We were a small Company but with an honest effort and the willing to grow. many ptrobably knows what happened between october and march: just a few weeks after we started IntGold was visited by the FBI. We lost in it nearly 1,000 USD but all our members got their money even if we still have to get, and we will never get them back, US$ 650 from IntGold. A few bucks, I know there are business that have lost ten or 100 times us in IntGold. Then MoneyBookers, that was bringing us a good business. Many people were interested in getting their money out from there and deposited to egold. Our MoneyBookers account is still opened ( with US$ 100 in it ) but we can not use it because MoneyBookers does not want other payment processors to use them. They also claimed that 3 transactions we received was fraudolent. In a few words, like happens with PayPal we are considered to be responsible for their lack of security. They allowed someone to be registered with them and to use a fake Credit card to transfer money to us. Instead of prosecuting the criminal act they shut down our account. Nice way to interpretate the law.

PayPal is a different matter: Paypal was real like providing an important service. We have many business in Asia, honest businesses, like Thailand companies selling handicrafts online, that have to accept Paypal, just because, sorry nothing personal with anyone here, it seems that on Internet if the business does not look like coming from USA is not trustable and if you do not use Paypal you do not get paid. I asked to me many times: but is not possible that this way of doing should not be of interest to the AntiTrust commission? What we was almost doing with Paypal services was to allow our members to deposit the money in Asianpay and then to get the money withdrawn to their bank Account.

JUST TO MAKE IT CLEAR: we have a very strict verification and certification process, in compliance with Thailand and International Money laundering acts, and only verified or certified members was able to use this service. As per MoneyBooker we got a chargeback on a transaction from a member ( blood-sucking people are always present on Internet) and we gfollowed up on PayPal dispute policy honestly not hiding anything about our Company. Of course Paypal had to freeze our account because they also do not allow other payment processors to use them.

And then EMO: anyone knows what is happaening to them, so we can just not use them anymore because they are not available at the present time.

Just to speak about a due diligence on us and about our honesty, we had thousands of dollars locked in these situations, and we never made one of our member to wait their money. Just ask them.

We have covered any situation on our own, with our own investment and cash flow, like should be for an honest Company that protect its capital: THE CUSTOMERS.

And as per today we are here, opened, with nearly 9,000 active members doing our honest job day by day, and looking for new solutions to grow the business, to offer better services, to offer better fees.

And we are here to continue our egold exchange, trying a solution that allows less fee to us, that means less fees to our members.

The only solution I can see is to became exchangers on our own without having to rely on third parties exchangers that ask to us from the 2% to the 3% to sell to us the egold that we sell to our customers at the 4%

Asianpay is a global business..as soon as the number of merchants accepting Asianpay payments will grow our profit also will grow and this is not depending on egold business that is a separate section of asianpay.

From all the above consideration was born The Investors Corner. As a way to get money from our members to be used in our business in exchange of interests, like a normal loan, with an established length and established interets to be paid.

Now I think I do not have to explain here in full which are our profits right now, I will do with our shareholders in the occasion of the annual meeting, but if you look at our fees and if I tell you, that being a small Company like we still are, we have moved in out in 6 months nearly 1,000,000 USD probably everything about the Investors Corner could sound more logical to you.

The last section of this post would be some kind of FAQ to anticipate your comments so that I will not be charged of lack of answering:

1. Where do you get the money to pay interests?
Simply from our profit. You loan the money to us for an established time we generate profit from that money we share the profit we generate with you. And the end of the period the money are always here and we pay back the principal to you.

2. Why you say the money are always there?
Because we do not trade, we do not sell stocks, we do not buy stocks, we do not sell securities. You give us US$ 10.00 in egold we have someone that give us US$ 10.40 to get in egold the US$ 10.00 you gave us. The 0.40 are the profit and we pay you part of it and we have your US$ 10.00 here. we put them back ine gold because someone deposit to Asianpay from egold 10.00 and request a withdraw, so we have again the US$ 10.00 ine gold and we send to the member the cash. Then someone buy again the same US$ 10.00 in egold.........and so....and so.....

3. Ok but how you can be sure that any day you pay interest all the money you got from investors are used everyday and generate profit everyday to cover the interests?
Well after nearly 10 months online, we can say we know our turn over and you should believe it. If you do not believe this, you do not believe in our Company, in our Business so just do not loan the money to us. We have already explained many time, and this what makes us different also from an HYIP, that any plans has limits. Not only the minimum and maximum but also the full amount of investment we receive in that plan. We do not want to have here money that do not generate profit, because having to pay daily interests, the Company was going to loose money in this way and in the long term to fall down. This is why we reserve the right to stop any plan at any moment. This means that the plan will not be availble for new investment while the ones already ongoing will be completed.
If for any reason the business will not grow as expected, the worst you can expect is that we close the Investors corner, pay back the principals, and go ahead with our Payment Processor Business.
I understand that some plan could sound strange compared to the others or sueless. We have just opened them, we have to fine tuning the offer and on this matter I have to admit that any suggestion will be truly appreciated, but ther is one point that have to stay like it is: in our opinion longer the plan is higher should be the interest but lower the amount is lower should be the interest. This probably can explain the way the plans are.

4. This is a great question: If the reason fro this program is to raise financial power, why do not request it to the offical financial channels?

Well have you ever been to Thailand? We are a Thailand registered Company, we abide by Thailand law and we live in Thailand. Do you know the Thailand financial market? There is NOT any way to access to any financial source unless you are a Public Company listed at the stock exchange and with tons of collateral. Thailand Economics has not developed yet any kind of Business Credit System. The only loan operated at the present time in Thailand are House Loans or the small Cunsomer Credit ( buy Stereo, television, computers, cars etc etc by monthly payments). This is not what we are looking for ( I mean we do not need to pay monthly to buy a Computer for our offices) and there is no way to get more.


I want to close making a point: we have thousands of members that can tell you how much we are committed to honesty and integrity: we have probably the best support that a payment processor ever had, answering to any tivcket requests in minutes when we can or any way in a few hours, and there are plenty of boards and forum around the world where this is clearly written from our members.

In 10 months we never had a chargeback from our Credit cards gateway, no complaints, no claim, no refund requests, no disucssion with our clients. I'm pretty happy with these results and I'm proud to say: Asianpay have been born to be different and we are different.

We are trying to offer something new on Internet and there are plenty of good reasons why merchants have to start to use Asianpay and not only from Asia. From the lower fees, to the safety of the system, to the fact that with our policy all our sales are almost chargeback free and much much more....

The above are also the reasons why our members can trust us and decide to GET US A LOAN. because The Investors Corner is just that simple: please, help us..give us a loan and get a share of our profit.

And in conclusion our members answer could be Yes or Not, accordingly to the level of confidence we are able to create with our daily work and results, but please, do not compare us to an HYIP and do not start to discuss if we are a scam and if we are going to run away with your money.

Where you want me to go with 3 Opened and working Companies and no time to look at a movie because of my commitment to the business. Not even the time to buy an airplain ticket to go back to Italy to visit my mother, because I'm from Italy, born in Genova and living in Brescia for 30 years, and moved to Thailand 8 years ago with the export only in mind. everything else was born later, but this is another story.

I apologize for such a long post, i hope have not annoyed all of you, eventually just someone , and I take the opportunity to wish to all of you Happy Easter.

Sincerely,

Carlo Sorio
President & CEO
Asianpay Co. ltd.

First of all we want to underline some numbers that are important to
understand and clarify our policy.

Asianpay payments is still a small business, but we are growing by 70 -
80 new members daily and we are learning day by day how to meet our
Customers demand.

However there are a few rules that can not be changed because are a
very important part of AsianPay project especially in this time when so
many Payment Processors are experiencing problems or closing down daily
and from Internet Business is starting to spread a voice against
\"Payment Processors Businesses\" and in favour of Standard Merchant Accounts.

We have maximum respect of your money like we have for ours money. If
for any reason a problem arise is your money to be in danger because any
losses we can face due to problems from our members will result in a
problem for the full system.

We take particular care of our accounting to ensure that we always have
in our hands, or in our accounts, enough cash to cover the money you
have in your balance.

Our business can not survive without a correct rotation of the assets
and is really depending also on third paries policy.

From our user Agreement:
\"AsianPay Payments shall make reasonable efforts to ensure that
requests for electronic debits and credits involving bank accounts, credit
cards, and check issuances are processed in a timely manner but we make
no representations or warranties regarding the amount of time needed to
complete processing because our Service is largely dependant upon many
factors outside of our control, such as delays in the banking system or
the U.S. or international mail service.\"

What the above means is very simple: we are proud of the services we
are able to offer especially to Asian Members with refernce to the
capability to deposit from our Competitors and then be able to withdraw the
money to their bank account. But we depend on our competitors rules to
clear the money in our accounts before to transfer them to you
accordingly to your withdraw request and we depend on the bank system for the
time a transfer need to be cleared in your bank account.

Asianpay has been born with the aim to be the most transparent Payment
Processor ever. How many others businesses like ours have explained to
you their business processes or why the things are that way ?

We do it and we do it also enforcing our rules, that are pretty
different from our Competitors rules, and do not care of what is considered
the most important Internet benefit: \"The Speed\".

The choice is very simple: you look for high speed transactions, you
pay high fees, you run high risks.

You prefer a safe slower business without risk you come to AsianPay
Payments.

We are opened for business from June 2005, we started Credit Card
services on September 1st. Until now we can proudly say no chargebacks, no
refund, no claims but a good amount of happy members.

This is the result of 3 important rules we have enforced and we will
never change:

1. The very strict verification system
2. The 3 business working days \"Pending Status\" for Credit card
transactions and PayPal deposits
3. The manual control we apply to any withdrawal request before to
apply it.

I want to ensure all our members, for your own safety and for the good
future of our Business, that we will always enforce the rules above as
the most important part of our project. If you were looking for a good
safe and honest Payment Processor you have found it but you must accept
and abide by our rules and have that bit of patience in getting
transactions completed accordingly to our rules.

One more time, these rules are for the safety of the entire Asianpay
community and not like someone could think to help us to make more money.

Just think to PayPal deposits. We keep them pending 3 days.
Do you know how long it takes for us to clear them and have that money
here in Thailand? 5 working days and you know this is the true, if you
just consider the time to withdraw the money from PayPal to our USA
Bank Account and then transfer the amount from our USA Bank Account to our
Thailand Bank account.

If you think correctly to the business, this is one the things that
makes of AsianPay a safe place to do business. We do everything with
transparence, through official International transactions, paying fees and
taxes just to be able to offer to all our members the right service they
are looking for.

All the many members that already did at least one transaction with us,
they know this is the true.

We are growing, and as much as we grow, we will be able to fine tuning
our system and to find new solutions that will result in better
opportunities for all our members.

One of these will be AisnaPy Members secure card and Asianpay debit
cards that we hope to be able to start to sell from middle April.

This always in respect of Thailand and International laws and
accordingly to our user Agreement that has been written to be followed.

Last, but not least, please allow me, before to thank you all for your
confidence in doing business with us, to remind our deposit and
withdrawal policy that is an important matter for all our members. We will
always act accordingly to this policy, faster when we can, but never in
delay like we never was in delay in anyone of our Members transaction, no
matter the amount, in the last 10 months of operations.

From our User Agreement:
\"Deposits.
By using any allowed deposits method to \"Top UP\" your AsianPay
Payments Account you specifically agree and understand the followings:

Credit Card deposits are available only to certified members and only
from the registered and certified Credit Card.
Credit Card Deposits will stay \"Pending\" 3 (three) business working
days.
PayPal Deposits are available only to verified or certified members.
PayPal Deposits will stay \"Pending\" 3 (three) business working days.

Thailand ATM or Bank Deposit will be Credited to your Available Balance
as soon as the money are cleared in our bank account. These deposit
advices will be deleted after 24 hours if we do not receive from you the
deposit confirmation (Copy of the deposit slip receipt). This is due to
the fact that Thailand members request deposit in US$ ( United States
Dollars) but provide the deposit in Thai Baht. The deposit must be
provided the same day has been requested to match the currency exchange rate
at the time of the request.

International WIRE deposit advice will be Credited to your Available
Balance as soon as the money are cleared in our bank account. These
deposit advices will be deleted after 24 hours if we do not receive from you
the deposit confirmation

Withdrawals
By using any allowed withdraw method you specifically agree and
understand the followings:

Withdraw to Thailand Banks will be completed by Counter deposit on the
second business day after receipt of the request
Withdraw to International Banks by WIRE will be completed on the second
business day after receipt of the request. The time needed for the WIRE
to be cleared in your bank account depends on your own bank rules and
could be from 3 to 7 days.
Withdraw to Egold Accounts will be completed from 24 to 72 hours ( not
including holidays days or not working days) after receipt of the
request and will be processed in the same order they was received.

AsianPay Payment\'s business days are Monday through Friday. Saturday,
Sunday, and Holidays are not considered business days.\"

We all at AsianPay were Internet users before and we all experienced
the troubles and problems of doing business on Internet loosing our money
and getting our account locked or frozen and we are still experiencing
something like this now with our accounts registered with some of our
competitors. We DON\'T WANT this to happen to our members.

I\'m sure to have the cooperation and the understanding of all our
Valued Good Members in keeping these rules always respected and I sincerely
thank you all for your effort in promoting Asianpay bringing so many
new good members everyday and for your confidence in doing Business with
us.

\"Dreams Come True?\" I believe sometime they do!
I\'m here everyday, ready to answers to your questions and to cooperate
with you and our staff to make of AsianPay Payments Project the next
dream to become true for all of you and, please allow me to say, also fo
all of us working here for you so many hours everyday.

To your success!

Carlo Sorio
President & CEO
Asianpay Co. ltd.

This topic is dedicated to compile and share all the posts from Asianpay CEO so that all members can read for themselves the insight or the vision of Asianpay. Hope this can be of some help for members that are new to Asianpay. Enjoy..

Posted on Fri, 24 Mar 2006 22:55:28 +0700
I have to write something otherwise I could not post this message. I have to write at least 20 unformatted character to post a message. This is the new rule from MMG.

Thought we might be doing something different by interviewing a payment processor CEO, instead of the usual program HYI admins. There’s a few speculation on Asian Pay’s new LYIP in discussion forums. I’ll be checking them out when I can spare some time. Meanwhile, an email interview with the man behind Asian Pay, Carlo Sorio.

Before reading, prepare a bucket of popcorn and a diet coke. it’s a LOOONG interview. More insights on how Asian Pay is operating and an investment opportunity from them. My written thoughts will be coming in a few days time.

Hi Carlo, this is Jude from No Bull**** HYI Blog Community (http://hyipblog.nobshyip.net/) and we thank you for accepting our email interview.

1. Before we start, would you like to tell us more about yourself?

Name: Carlo Sorio
Age: 46
Born in Genoa (Italy) on April 18th, 1960
Classic studies (Liceo Classico) followed by 4 years of Economia E Commercio (Commerce and Economy) at the University Of Parma, while working for one of the most Important Insurance Company in Italy since 19 years old.
Married 10 years in Italy, now divorced, living from 8 years with an honest, funny and beautiful Thai Lady, really committed to the Business like me. She has 2 kids, a girl and a boy, living with us and we are a real family and they love me like their real father. This makes me proud, considering the great difference of culture and attitude between me (an Italian) and Thai people. I speak fluently Thai language, but still I’m not real able to read and write it.
I moved to Thailand 8 years ago to follow the idea of building an Export Business from here. It is now a successful Business still under the name of my first Company here; InThai Trading Co. ltd. that I still own with the first time partner and founder with me Mr. Aldo Gonzalez Mendoza, actually living in Italy. We have good customers, good business and good friends. We have a warehouse not far from our head office. Now InThai trading is part of the team and is owned also from Chiangmai Solutions Co. ltd., my second Company, founded in April 2003 with Mr. Raymond Conduit, an highly experienced marketing man , now living in England, that is also one of three founders with me of AsianPay Co. ltd.. The third founder is Dr. Corrado Prever, from Torino, Italy. He entered our team, buying shares in our holding Company, Chiangmai Solutions Co. ltd., in December 2004 and he is here with me sharing the hard work on the field.
I’m also a programmer and all our web sites, including AsianPay Co. ltd. are done, technically managed and supported in house. We never let third parties to access our web sites and our data and this is one more important safety. I consider myself like the AsianPay father. Everything, the software and the project, do come from me including the full code. I love to do this job and I love to honestly help people in the right way, not only thinking to the money but also building a friendly relationship and helping every time my business allows me to have the time to help. Who knows me is my witness.

2. Why the establishment of AsianPay? Does AsianPay have a vision to accomplish?

If you don’t mind I have included this answer in the answer to the question Number 6.

3. Does AsianPay has any incorporation documents that can be shared among our readers?

AsianPay Co. ltd. is fully registered in Thailand and has all the incorporation documents of course in Thai language. I’ll send to you a zipped file that includes scanned copy of the originals and scanned copy of their English translation. Of course the copies are provided to you for a verification purpose only and if you want to publish them you are kindly required to void them before to publish them. However the most important registration, our E-commerce business registration with The Thailand Ministry of Commerce, is always available from our website 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. I mean: is not a page on our web site that could be untrue or outdated. (To be fair, Carlo has attached a list of documents of the incorporation and share allotment of Asian Pay and its subsidaries)

4. We do understand that AsianPay is incorporated in Thailand, Chiang Mai. Is there any strategic reason why AsianPay is established in Thailand?

It is more the consequence of some logistic situations, including the fact that all the founders are or were living here. But it is also resulting in a good strategic choice. Thailand is a pretty developed country with a good Bank System ( one example is the easy way we have to provide WIRE transfers worldwide in a timely manner. Almost quicker that for example domestic transfers in USA) and always looking to innovation. In a few words Thailand includes all the vantages of Hong Kong or Singapore incorporation with much more less costs, last but not least the labor cost. At the same time Thailand is not offering free-tax offshore solutions, and this, in our vision, is a positive situation to guarantee honesty and integrity to our members and to gain high confidence in the market. We are subjected to laws that are very similar to the USA and European Laws in this Business sector, but with some difference that let us to have some more lawful freedom in managing our business. In particular Chiang Mai is probably the best place to live in Thailand offering all the services that Bangkok can offer without all the negative situation of the Big Capital. However we are planning in the medium time, when the growing of the Business will justify it, to move our head office to Bangkok, but our offices in Chiang Mai will probably move downtown, but will never close.

5. Are members actually allowed to visit your stated business address, and can we personally get to talk to you as well?

Of course is possible. We have offices opened to the public every working day and everyone can come to visit us in working hours. I’m almost a very present CEO, but it is better for anyone looking for a direct meeting with me to advise at least one week in advance and to get an appointment. I’m often traveling around for Business. Our addresses and telephone numbers can be found on our web site going to https://asianpay.com/about.php

6. How long has AsianPay been running and how different is AsianPay from other payment processors in the market at this point? What are the full ranges of services which AsianPay provides?

Thank you for this question. This is what we consider the clue in our project. AsianPay started its official operations on September 1st, 2005 after a 3 months pre-launch testing period. The best way to fully understand what we do and how we do it is going to:
https://asianpay.com/howto.php

Yes AsianPay is truly different. I personally like to define AsianPay like the “Slow but safest Payment Processor”. AsianPay project started 3 years ago when I started to write the code for the software that power the web site with a very important goal to achieve:
to build a Payment Processor Business trying to avoid or solve all the problems experienced being for years a user of our Competitors like PayPal, StormPay, MoneyBookers and others, and also providing a good alternative to standard gateway provider like WorldPay or 2Checkout.com or similar. In 8 years of Export and
E-commerce business on Internet through our Partner Company InThai trading Co. ltd. I had the opportunity to experience all the possible difficulties in being a Customer of the above companies, especially related to delay in settlements (WorldPay keep your money 5 weeks in a row, 2checkout.com 15 days, to withdraw money from PayPal or StormPay being in Thailand was almost impossible or very costly when possible.) and in particular related to fraudulent transactions issues and chargebacks issues. This second reason is probably the most important. You can manage your business to be ready to cover the cash-flow needed to provide goods to your buyers waiting for the settlement or to receive the withdraw from the above companies, but you can not deal with chargebacks received when you already delivered the goods or the services. This means for your business to loose twice the amount of the single transaction that has been charged back. This happened many times to us from any of the Company above.

Where is the problem with the Companies above and almost any Payment Processor or gateway provider? Is in the system itself: when you have a merchant account and accept payments through any of the above systems, you have not the safety and the guarantee they claim, for the very simple reason that they can not guarantee anything to you, because they do not know the buyer, nor they can understand if the used Credit Card is a real one or if the buyer is the real cardholder. All transactions processed in real time should be considered at “chargeback risk”. And this is what happens for real. If the transaction is fraudulent or if, like sometime happens, the cardholder is a cheater, after 2 or 3 days, or in the worst situations after 2 or 3 months, you have already delivered the purchased goods/services and you receive a refund notice, a hold placed on transaction notice or a chargeback notice. Goods are gone and with them the money they cost to you, and the Company above get back the money from your account with them and also charge you incredible fees for the chargeback with the excuse that they have been charged from the Bank or from the Credit Card Company.
So this is actually the picture in the Internet E-commerce Business:
it is not your fault, you are using their services because you expect them to protect you as a merchant doing for you the Due Diligence on the buyers that they are expected to do on your behalf and that any Merchant does when accept Credit cards or electronic payments in a physical shop on the street often asking for an Identity card to be collected and kept in files with the slip receipt payment. You are anyway the one that pays for criminal actions done by others. This makes sense in the modern economy, Internet based, where not being the Big Companies able to track cheaters and criminals, the honest people have to pay for these actions because the big boys do not want to loose money running their own business. It is like to have a Company and to say to your customers that because they use your services they have to cover your own Business Risk.

That’s quite funny, and this is what we are against and the reason why there was the need of AsianPay.

I perfectly understand that our vision lead to a “Slow payment processor” like I said above and like some of our members claim. 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.

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. Why? 1. Because we know already both of them. Sellers can not use the merchant tools if not verified and buyers can not pay sellers if not verified. 2. Because of our system, Credit cards 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 we credit the buyer account with the Credit card deposit. This is another important difference. The purchase transaction is a completely different transaction that happens later, and the Buyer Credit card statement will report “deposit to…” and not purchase of, so there is not possible claim with he Credit card Companies, and if the buyer try anyway to claim, we will have in our hands all the documents to successfully dispute the chargeback request.

The above complete the Seller protection. How we protect the buyer? Basically in the same way. We know the seller 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 we operate on any transaction.
When a merchant require a withdraw we check any transaction involved with this member, and we hold the withdrawal request, if needed to protect buyers, for the time necessary to contact the buyer and understand if the transaction has to be considered valid.

In the case a “Non Member Yet” place a purchase from a Button using a Credit card (we allow this process), the transaction is kept pending, the seller is advised, and the buyer has to provide the requested documents in a timely manner or the Transaction will be reversed and the Credit card refunded. This is the part that some of our members discuss, saying (on the Merchant Side), my buyers don’t like to go through such a long process to buy from me. Better PayPal or StormPay that allows you to pay immediately.
Our answer is: do we have to show you the list of payments was reversed later from PayPal and StormPay and others and from which members do these payments come from? Believe to me, statistically 87% of reversed transactions are transactions done from new unverified members using a fake name (Identity theft) and a stolen Credit Card (fraudulent transactions).
moreover, an honest buyer that really want to buy your products or sue your services, will be more then happy to go through our system, because will understand also for itself the importance of our security. As the buyer is verified for you from us, so the seller is verified from us on behalf of the buyer. This results in a safe transaction where both the parties are protected and where finally to do business on internet is a pleasant experience.
When we speak about money business, we believe that small and medium business should be the target. Amazon.com will never need our services, but they also will never cry for a Chargeback. As Big Department Stores calculate already the average amount of products will be stolen in the branch and manage their prices and mark-up accordingly, the same does Amazon with the average percentage of Chargebacks.

Our question is; can a small or medium business or a home business trying to earn a decent living from Internet make this calculation? The logic answer is NO WAY! CAN NOT!

We still have to see AsianPay Payments to start to be fully accepted from merchants worldwide. As soon as we will be able to make people and our members to understand how much easy could be this way, with a little bit of effort in the beginning….well I believe AsianPay will explode!

Last but not least, one more good reason to accept AsianPay Payments on a merchant web site is our transactions fee: we charge only 2.5% + 0.29 USD to receive payments. The lowest on Internet.

7. Are audits done on a regular basis to prevent discrepancies? And if there is, who is in charge of the audits?

We run Internal audits on a monthly basis. These audits are done from our Board of Directors in cooperation with our Accounting Department. Then, as per The Thailand law, every year, before to present to The Revenue Department the yearly balance and to present it for approval to the Annual meeting of The Shareholders, an external Government Authorized Auditor complete a full audits on the Company documents and verify balances, assets and company equities. The Company in charge is PRC Audit and Advisory in the person of Mr. Patcharin Samarath, Thailand Authorized Auditor.
Accordingly to The Thailand Law, being AsianPay Co. ltd. formed and registered on August 30th, 2005, we are required to present the first Balance for the period that goes from August 30th, 2005 to December 31st, 2006. As per the Law in many other Countries in the world, we will have to complete this process within May 30th, 2007.

8. How many team members are currently in Asian Pay and what are their specific job scopes? Is there a helpdesk number we can call to if we face any problems with your services?

AsianPay has a 3 members Board of Directors that physically manage the Company. Two directors are here in Chiang Mai while the third one is in USA. Meeting of the Board are called regularly accordingly to the Company by law and are done by Conference call to allow the USA director to participate. AsianPay has more then 30 shareholders around the world, people that entered our partner program launched in early October 2005, and that are actively cooperating with the Company in promoting the business. Our head office, located in Chiang Mai count at the present time 10 full time employee (covering technical, administrative and customer service issues) plus 10 to 15 part time employees hired for the support and verification department. Address and telephone numbers are published on our web site at https://asianpay.com/about.php . We are waiting for the assignment from the TOT (Thailand Telephone Company) of a domestic Toll Free Number for our Thailand Customers Base Support and we are planning already to have an International Toll Free Number also very soon. In the meanwhile, during these first 10 months of operations, we had all and only positive feedbacks about our support. We have a highly improved Support center and our members can tell how fast we answer to any enquiry. The ticket support system is considered from our Company as the most important resource to get new members and to keep the existing ones happy and satisfied with our services. We also offered an Online Live Support in the past. Technical matters and securities issues have suggested to us to suspend it but we are planning to restart it safely at the beginning of May.

9. We understand that AsianPay has a LYIP (Low Yield Investment Program) that is currently running for your members. What kind of returns is it promising and how is it generating the return on investments (ROI) specifically in details?

This program is a strictly private program offered only to AsianPay members. I prefer to not completely disclose here all the information also because it would take a lot of space. Basically the important things to know are: 1. we are not an HYIP neither we act as an HYIP. We are not offshore, we do not invest in stock exchange, stock market, we do not buy stack on Companies and we do not sell or trade in securities. The daily returns vary from a 0.35% to a 1.50% accordingly to the plan the member will choose and is strictly based on our daily return based on the fees we receive from Transactions done in the system, Our financial plan is based only on our Egold exchanges services, but of course we profit from any type of transactions so even if the Egold business (I don’t think it possible) will slow down we can anyway cover the profit we offer. Basically just take a look to our fees, compare them with the profit we offer and everything should appear very clear. Basically The Investors Corner is a loan project. We receive loans from our members, we pay an interest and payback the principal when the loan established period closes.
10. Would that be in any case, members’ funds are guaranteed since it’s a LYIP that you are running?

Unless we go bankruptcy (and this possibility is not part of our project), yes they are guaranteed, almost because they represent for us a cash flow on our business turn over so wherever the money are, in Egold, or in our Bank Accounts they are always available. But there are not Institutional Guarantor in Thailand, so what matter is the confidence that members can reach in our Company after testing us and after doing a complete due diligence on us.

11. Will there be any upcoming changes in AsianPay that members will be expecting prior to this interview?

Not at the present time. However our main goal now is to look to establish a new Payment Gateway relationship with a different provider to offer better and lower fees on Credit Cards deposits.

12. Lastly, is there anything you would want to say to our readers?

Yes! 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. We already went through MoneyBookers closing account, PayPal freezing our account, a couple of members trying to cheat, one hacker playing games with one of our Egold accounts. I will not mention here how much money we lost or we have locked in frozen accounts. I will just mention that at the time I’m writing we never delayed a withdrawal, we never delayed and Egold operation, we have covered any situation timely and without giving any problem to our members even when our Bank, for example, was wrong providing a transfer to a Customer. We closed already high valued transactions (other 10,000 USD for a single transaction value) without delay and we have managed in this first period of operations nearly 600,000 USD in-out without delay, problems or receiving a single claim from our members. When some problems out of our control happened, like the Credit Card Gateway Clearing Bank charging a card twice, it happened 2 times in 8 months, we promptly take action and the member got refunded in hours from his Support Request. Maybe I should provide tens’ of emails and feedback from our members but someone will say that are fake. This is Internet, believe it or not…it is!

Thank you for your time Carlo J

Thank you for your interest Jude.