Hi everybody! Hope you all had a good day on Christmas and didn’t overdo things with the turkey and the eggnog! Thanks a lot to all the readers who sent their best wishes for the holidays as well, it’s much appreciated and means a lot to me so many happy returns to you all. It’s back to business for me today however and I’d like to start with a very interesting interview I received with one of the admins from GoldExPay.

So who are they I hear you ask. Well, if you are a regular HYIP player like myself then you are going to be dealing with ”virtual” money a lot. E-currencies in other words. Chances are in that case that you are at some point almost certain to need the services of a digital e-currency exchanger. Somebody to fund your payment processor accounts, to convert that “virtual” money into real hard spendable cash, or to transfer from one account to another depending on what you need to do with it. And that is where GoldExPay comes into the picture. They are one of the best known and most reliable service providers in this area and I’m sure they need no introduction to many of you. Indeed anybody who reads E-commerce Journal will notice that they have been nominated as one of the best exchangers of 2009 in the poll being taken there at the moment for their end of year awards. A poll they are running away with by the way! And deservedly so in my opinion when you take a look at the variety and quality of services provided by them.

This is actually the second interview I have done with an exchange service provider. You may remember some time back I spoke with Andrei from Xchanger which was also quite interesting. If you want to refresh your memories you can have another read of that one by clicking here. Hopefully I’ll be able to carry out more such interviews with people in the industry not directly related to any actual HYI programs in 2010.

Anyway, I think GoldExPay can explain themselves much better than I can, but I do hope you find this an interesting and insightful piece on a side of the industry that too many people seem to be badly informed about.

“1. Please introduce yourself to the readers of Money-News-Online and tell us a bit about your background in the online industry. Do you handle GoldExPay alone or do you have any assistants?

Hello Paul and readers of MNO! First of all we would like to wish you a Merry Christmas and a Happy New Year! We wish you every prosperity and success for 2010! Hope all your dreams will come true!

About your question – My name is John and I represent the GoldExPay service. Our company is made up of several employees. Our team includes programmers, support staff, SEO optimizer etc. GoldExPay also has a strong management team with significant experience in the online industry, information technology, payment processing, e-commerce and customer support. Nowadays to maintain an e-currency exchanger on top of the market you need to have large reserves and experienced staff. Do it alone and it’s almost impossible.

2. Please tell us when your exchanger came online first and when you started your activity. What were the first features available and how has it evolved into what we have now?

The company was incorporated in 2006. The first version of our site was launched in January 2008. The first payment processors that were added on our site were LibertyReserve, E-Bullion and Pecunix. After that we added C-Gold, PerfectMoney, and ePassporte. All the e-currencies were added during 2008. In 2009 due to market research and customers requests we then added Ecumoney, StrictPay, AlertPay, SolidTrustPay, and GlobalDigitalPay. Due to Webmoney rules we had to divide information about exchange of e-currencies for our 2 sites GoldExPay.com and GoldExPay.net. Our project GoldExPay.net is an official exchanger of WebMoney system since 2008. It is also necessary to mention that we also have some other e-currencies in stock (PayPal, MoneyBookers) but that systems do not allow exchanges. So we only sell those e-currencies to our VIP clients if they need them.

After the initial opening campaign of our site it has been modernized and new options and features added. During 2008 for example we also added debit cards as an option to withdraw money for VIP clients.

So now we have two sites with more than 12 different e-currencies in stock, four payment options for buying e-currency and 5 payment options to withdraw it. GoldExPay can also pay digital goods to our customer’s business partners, invoices, bills, goods on e-bay, Amazon and other online marketplaces for customers.

3. What are the e-currencies you’re currently working with? Do you support all exchange directions, i.e both buying and selling, between them?

Currently we work with LibertyReserve, PerfectMoney, C-Gold, AlertPay, StrictPay, SolidTrustPay, Pecunix, WebMoney, ePassporte, PayPal, and MoneyBookers. Of course that list will be extended according to our customer needs.

We respect rules of all e-currency processors and we do not do prohibited exchanges. For example, WebMoney does not allow exchanges between some e-currency systems and we follow them and convert it only with approved e-currencies.

4. What are the current exchange rates for the main exchange transactions? Are they fixed or temporary and what are the market conditions that can affect this?

Current exchange rates can always be found on our fees page. They are fixed but can change according to the market. We try to make our fees lowest on the market so our customers can make all their exchanges within our system with pleasure. GoldExPay always offers special promotions for limited time. For example, at the start of 2009 after receiving X account and becoming an official exchanger of LibertyReserve we sold LibertyReserve for wire transfer at 0% fee for over six months. At the moment we sell StrictPay, C-gold for wire transfers and make some exchanges at 0% fee from our side. To know about last special promotions our customers need to check our blog for fresh news and follow us on twitter.

5. What is the purpose of verification on your site? Is it compulsory? What operations can be made without verification? What documents should one submit to get verified?

Yes, you are right, verification is used at our service. We have only one aim when verifying our customers – the prevention of scams, fraud and money laundering. GoldExPay does not use verification documents for any activities other than verifying the clients identity.

GoldExPay have one of the strongest verification processes before we start working with customers. Our KYC (Know Your Customer) program is working successfully on our site.

Verification is compulsory for customers buying e-currency from us (when he sends us wire transfers, money transfers and receiving e-currency). But when you place a sell order and exchange order verification is not required at the moment (except AlertPay and SolidTrustPay when it’s a requirement of the payment processors themselves).

GoldExPay has many features to identify users but we do not want to open all of them for security reasons, so we will just list the most common options.

When someone wants to buy digital currency using wire bank transfer we ask him for several documents:

– Copy of an identity card (international identity card or government identity card in good resolution and in color);

– Copy of a utility bill (that confirms address).

While registering at our site you need to enter your cell phone number and verify it (our system sends an SMS text message to the customer’s phone with a unique number and then the customer enters that at our site. After that we can contact our customer anytime we need if we have any problems with a transfer.

Usually verification takes one business day. Our customers understand the purpose of verification and we are very grateful to them for that.

6. Tell us more about the Buy e-currency option. What e-currency can one buy from your website? What are the payment methods and how long should one wait before his e-currency account is credited?

Well, you can buy all e-currencies that we work with. You can buy an e-currency using Wire Bank Transfer, Western Union transfer, Moneygram transfer (you can also send a money transfer that is available in your country but you need contact our support before doing so). Also Australian customers can pay for e-currency via post.

Usually wire transfer takes 2-4 business days to arrive in our bank account. It depends on the bank’s location, bank schedule, deposit policy of the bank, currency of transfer etc. Some of our customers have received transfers in as fast as one hour because their account was in the same bank as our one.

Money transfer orders take one business day to be completed after confirmation.

7. Also can you tell us more about the Sell e-currency option. What e-currency can be sold on the GoldExPay website? What are the required conditions for one to receive money from an e-currency? How long does it usually take to turn this virtual money into cash?

We can sell all e-currencies except PayPal, MoneyBookers, and ePassporte due to security reasons. Customers can withdraw e-currency via wire bank transfer, money transfer, debit card, or US cheques (though thats only in test mode).

I have already given you information about wire transfer and money transfer orders. Debit cards that are issueded via our service are instant and exchanges from an e-currency to a card takes only about one business hour. After that customer can go to an ATM and withdraw their funds.

US cheques takes one working week to be delivered.

Customers can choose any option and make a choice based on what way is more convenient for them.

8. Can you tell us what are the most in demand currencies at this moment? Also what currencies are the members of your exchanger selling more than others?

If an e-currency is popular then it is being bought and sold as well. Demand from customers can vary over different periods of time and we can perceive changes in the market. At the moment the most exchanged e-currencies are LibertyReserve, PerfectMoney and StrictPay. WebMoney, SolidTrustPay and GlobalDigitalPay are also very popular nowadays.

9. What is required to get a Debit card from your service? What are the benefits of using Debit Cards?

If you want to receive a GoldExPay debit card you need to be a verified customer and work for some period with our service. Benefits of getting card are obvious. You will be able to withdraw funds instantly and with low fee at any ATM. You will also have the opportunity to pay at actual physical shops, gas stations, stores et cetera, using that card.

10. Is your company legally registered anywhere? How can one trust your company?

Our company was incorporated in Belize. We found that the Belize jurisdiction is beneficial to our line of business. Our main aim is to earn customers confidence in our service by hard work. GoldExPay always provides high quality work and in a timely manner. We help our customers to save funds on exchanging so in the long-term it is also profitable for our users. You can also find an answer to this question below.

11. Do payment processors know of your existence and collaborate with you when you fulfill clients’ orders? Is GoldExPay an approved exchanger for any e-currencies?

Yes of course, payment processors know about us and we work with them closely. We have terms and conditions with payment processors and signed contracts. Otherwise we would not be able to offer such low fees for our customers. GoldExPay is always in touch with managers of payment processors.

At the moment GoldExPay is

– LibertyReserve official exchanger;

– PerfectMoney official exchange partner;

– AlertPay official exchanger;

– StrictPay official exchanger;

– SolidTrustPay official exchanger;

– C-gold verified exchanger;

– WebMoney verified exchanger;

– GlobalDigitalPay certified exchange agent.

12. E-commerce Journal named your site as one of the best exchangers of 2009 and according to the voting results you’re winning with the over 70% of the poll. How can you evaluate clients’ support? How important is the level of clients’ satisfaction for you?

We just get on with our job. GoldExPay always does proper market research and proposes only the best solutions for customers. We listen to our customers suggestions and improve our service accordingly.

13. What are your plans for the 2010? Are you planning to add new processors or launch new features?

We have great plans for 2010. We are planning to add new payment processors, if they will be in demand by our customers and negotiations with systems will be carried out. Also we will make video tutorials for our customers about the GoldExPay system so they will be able to understand the processes of registration, verification etc. easily. We also plan to add different languages on our site so customers will feel more comfortable using their native language. GoldExPay also plans to add new payment options for buying and selling e-currency. And of course there will be more features but let us reveal those secrets in 2010.

14. What are in your opinion the main advantages of using your service over your main competitors? Why should an average investor choose your service? What do you offer what others don’t?

Well, I cannot say that GoldExPay has competitors. I mean that we have good relationship with other exchangers and we cannot call them competitors. We cooperate with a lot of exchange partners and our aim is not to be in competition with others but to give our customers a service that they will be satisfied with.

GoldExPay puts a lot of emphasis on such points as:

– Quantity of services;

– Quality of each service;

– Usability;

– Lowest fees at the market;

– Reliable and helpful support.

We hope our customers will take these features for granted and it helps them to feel themselves safe and confident in the expanding world of Internet based business while getting value for money.”

Thanks a lot to John for the interview and I hope you all found it as interesting and informative as I did. I know it’s not what you usually find on money-news-online but don’t forget that there is no such thing as too much information in the online HYIP industry and this is yet another aspect that you should get yourself familiar with if you want to be a successful player.

That’s it for the moment guys but be sure to check back here again later tonight when I will have an updated review of on of the most reliable and consistent performers of 2009 that has underwent a number of changes since first being featured here. Tune in later to find out which one! I’ll also have all the latest news updates from the programs covered by my monitoring page so be sure to check back here for that.