I would consider AsianPay as an investment opportunity. I believe the program CEO is honest in explaining about his company and program. Here is the long explanation on how AsianPay came about with the Investor's Corner Invesment program posted on hyipdiscussion a few days ago, just read it and have your own conclusion:
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.
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