PAYMENT PROCESSORS

PerfectMoney Interview

Among other payment processors PerfectMoney can be distinguished as a really safe one. You can make sure of it yourself after creating an account and getting familiar with its features. In addition, there are no internal fees in PerfectMoney which is not really typical of an online payment processor. Today I would like to publish an interview with a representative of PerfectMoney payment processor Andrew Draper. I hope he can tell us about all the features in more detail than I did it in my review published here. Here's the interview.



"1. Please introduce yourself to our readers and tell us what you are doing in PerfectMoney.

Ok. Let me introduce myself. My name is Andrew Draper and I represent PerfectMoney company. I am a co-founder of that company and a financial director of PerfectMoney Finance Corp. I have been working in the industry of investment banking for 15 years and I have also much experience in the IT field.

2. What is the background of PerfectMoney payment processor? When did it come online and why did you open this project?

Everything began with an idea of the ideal payment processor. In my previous projects I had a huge experience working with major international banking and financial institutions. And as for me I totally understood that they are not ideal. Even modern internet payment systems sometimes are too complicated for the user and not secure enough to let them work instantly with user's money in the World Wide Web.

We have been working on PerfectMoney for 1.5 years and we invented the ideal payment solution on the Internet both for p2p and b2b transactions. Our main idea was to make a perfect payment solution for everyone and to substitute the normal banking system which is too slow and inconvenient for the modern tempo of business.

3. Is your company registered properly? Where is PerfectMoney company located? What points of contact do you provide for your clients?

We have registered as a company in 2007. Our lawyers have studied all the offshore jurisdictions and their laws on electronic commerce and online financial operations and we decided that Panama will mostly suit our needs. We also possess the A-Class financial license which allows us to make operations with the 3rd party funds and to buy and to sell precious metals. We can guarantee that every cent in the system is fully backed by real money in our company accounts and gold in the bank storages.

We operate from the financial center of Europe - Zurich, Switzerland. Our office is located in the World Trade Center.

Zurich is a remarkable place for doing business. We have also a call-center and we are not hiding from anyone and provide full phone and fax support for our customers.

4. How many people work for PerfectMoney? How can one use your support service if he or she has any questions or account issues?

We have 21 employees in all our departments. That is fully enough for payment system needs. Everyone can communicate with our support via the internal ticket system and our support service will be happy to answer all your questions.

5. What type of protection do you use to guarantee a 100% uptime for the PerfectMoney website and to avoid DDoS-attacks?

We have a strong cooperation with the Dragonara.net hosting solution. They care about our IT infrastructure as a whole and under our agreement they guarantee 99.99% uptime even in case of a strong DDOS attack. Their reputation and our 100% uptime is proof of their ability to protect any kind of business. As for the technical staff, you would better ask them directly.

6. Please tell us more about the types of accounts one can create in your system. What type of account best suits what member?

During registration you will be asked to specify the type of account you are going to create. We divide users as they do in the banks by personal and business account.

7. Can you tell us if the members can be sure that their funds in PerfectMoney accounts will not be hacked or stolen? What additional security measures do you provide for your clients?

The main problem of the internet payments is that they are not stable and insecure for the user. We have introduced the latest IT technologies and took the best protection system from the current online banks and payment processors. We went even further. It is our user who decides which security measures to use. Nobody but our members choose the level of security and our main goal is to provide such security features as Identity check with scoring system which can identify the identity of the user. Also our members can use SMS-Authorization. It is impossible to hack SMS authorization because the sms for the login is sent to the user's mobile phone. The only possible way to login the member's account is to steal his/her phone. We have a code card for the transactions which can protect the user against phishers and other swindlers.

8. What are the ways of depositing and withdrawing money from PerfectMoney account? What are the usual fees charged?

We enable our members to fund their accounts as easy as ABC. They can fund their accounts by bank wire transfer, and electronic currencies such as e-gold, webmoney and pecunix. We prefer to work only with these currencies as they are reliable and popular. Now we want to stop using e-gold because that currency shows us that they have only scripts working. They don't have real gold to pay for their own currency and it is looking unreliable for us and our members. That's why we charge normal market rate for e-gold now.

And of course we are favourable to our exchange partners. We want to build our business together with exchange partners and they can offer you a wide range of funding options and make the funding of your PM account as easy as possible.

You can also withdraw your funds as follows. Only one serious difference as withdrawals by wire transfer are not limited. You can withdraw even $50.

You can check all our fees here.

The only thing I can say about this is that we charge much less than anyone else. We are not willing to make a fast profit on commissions. We have been building our business for years gambling on a Swiss approach and we want to satisfy every member.

9. Why did you make a decision not to charge any fees for internal transactions during the year of 2008?

The same idea. The majority of payment systems make money on internal transfers. Some of them make lots of profit on that kind of operation but we have decided that in our system all internal transfers should be free like in any bank. We have other operations and we will charge fees only on them.

10. What reputable exchangers can you recommend to use for the members that will decide to go with PerfectMoney?

All our exchangers entered our partner list are reliable and fast. Before adding the exchanger to our partner list we first of all check the reputation of it. Ecashworldcard.com provides a great variety of exchange operations but I think that in two months all the reputable exchangers will be intending to become our exchange partners as PerfectMoney becomes more and more popular among payment processors.

11. Do you have a referral program in PerfectMoney? How does it work?

We don't put much stress on our partnership program in PerfectMoney but we can give you a nice chance to earn. Anyone can refer clients to PerfectMoney and get 1% from the minimum monthly balance of your referrals. You just add a banner to your site or add API payment merchant interface of PerfectMoney for the goods or services on the site and start earning with us. We have some top affiliates now who earn about $150 to$200 per day by our partnership program. But this is just a start!

12. What is your policy regarding HYIPs and autosurfs willing to use PerfectMoney as their additional payment processor?

We welcome everyone in our system if his or her business complies with the current laws. We will freeze accounts only after receiving a document from the courthouse in Panama.

13. What do you think about your main competitors: LibertyReserve and AlterGold payment processors? What differentiates PerfectMoney from any other e-currencies and makes it unique?

I haven't heard about AlterGold but I checked it and found out that it is not a competitor for us at all. To build a modern, fast and reliable payment system in the internet is not as easy as just to rent 2 coders and to ask them to code in your garage while the parents are away.

Nowadays you need to build a big structure of IT, hardware, financial, support and accounting departments.

LibertyReserve is good and trustworthy but it has only one advantage over us - a couple of years of a good business reputation.

14. What are your plans for the near future? What other features and options do you plan to introduce to make PerfectMoney even more competitive and attractive for the online investors?

First of all we want to add the Swiss Franc to our payment system. This currency is stable instead of the dollar and euro. We want our customers to create their own portfolio of currencies, gold and other precious metals in order to save and make profits from their capitals. We will add some new features to the client zone but you'd better see them for yourself.

15. What advantages will the members receive if they start using your payment processor? What else would you say to the readers of my blog who read this interview now and who are somehow involved in online investment programs?

Our main advantage is that we have created a reliable and fast payment mechanism for any kind of business and individual on the Internet and all the businesses should add our payment system because our client base will be also open to make purchases in your store.

16. What is your honest opinion about my blog?

Your blog is nice and you should post more interviews with payment processor owners. For us it will be interesting to read about each of them."

I would like to thank Andrew for his detailed and honest answers to my interview. I'm sure that PerfectMoney will become the popular and successful payment processor and it's just a matter of time before it happens. There are more and more investment programs online that started to accept PerfectMoney already and the list is growing day by day.

The aim of this interview was also to attract the attention of programs' admins to the PerfectMoney payment processor. Don't you want to save on fees and use a safe and reliable payment processor with a wide variety of depositing and withdrawing options? Then sign-up and start using PerfectMoney. I'm sure you will thank me afterwards that I led you to this payment processor.

Related articles:

PerfectMoney Interview-2

PerfectMoney Overview