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eDDy, one of our readers who has added me to his IM (my MSN: nobshyip@gmail.com) and told me about Asianpay’s new options.
“Investment programs?” was the first exclaimation that came into my mind. The first time that I came across Asianpay was from Ken’s HYIPDaily blog when Ken gave good thumbs up on the upcoming (then) new payment processor that deals with E-gold exchanges, debit cards and credit card funding. On logging in, you’ll find their site is VERY similar to the dying EMO (at this point)
What’s sparking me is that they have this new Investors Corner on the top which lists out a couple of investment plans.
Giving them credit that they are real business that is incorporated and operating in Thailand doesnt constitute that they are running other kinds of business apart from exchanges. And with the rates they’re offering, I dont exactly agree with what they call “Low Yield Investment Programs”. There’s not much stated in their TOS as well and there’s no writeup on what are they dealing with investors funds.
It kinda reminds you of Intgold going on with a dividend account. It kinda grows on me to be paranoid, but I wouldn’t be using Asianpay for a long time to come.
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5 Responses to “AsianPay - Own Investment Programs?”
- 1 Pingback on May 22nd, 2006 at 1:05 pm
- 2 Pingback on Aug 17th, 2007 at 11:50 am
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: http://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.
Hi Cario, thanks for your reply to my blog entry. This is just personal feelings to how I feel about Asianpay at this point when I see an ecurrency offering a program, hope there’s no hard feelings here. Of course, I would be glad to contact you or even come over to your office for a chat since we’re not far from each other.
I’ll give you a call after thinking of what to ask you alright, cheers!
i want to ivest with credit card, and transfer my profit to egold account.