Liqpay.com payment system has been developing as project of Center of Electronic Business of PrivatBank, but at present time we are in the process of separating it into independent company.
Service was created standing on "Titan shoulders" - which is PrivatBank (the largest Ukrainian bank), therefore it has already had quite high start.
Into Liqpay Team are involved specialists with about 10-years card payments, electronic commerce and payments, risk&security background.
Alexander Vityaz, CEO - has more than 15 year of experience and set of inventions and patents.
Liqpay.com is not only payment system, but also an open platform which allows to create global "ecosystem" of different services, based on understanding the Phone # as global open ID (SYNONYM of Card#, Passport, logins etc).
Liqpay.com provides:
- money-send service (for end-users) - allowing money transfers in easiest and the most secure manner, with the help of only mobile phone, Internet and cards all over the world
- Rich set of API (for developers), available for anybody and allowing s to create different applications, widgets and services
One of Liqpay API - "COINs digitalization API" solves very important problem of humanity: COINs.
Coins are the heavy burden which humanity had to bear for 3000 years.
PROBLEM: Change in coins is BAD and IRRATIONAL:
- very often there is absence of coin change for calculations at the cash-desk;
- coin change delivery takes a lot of time;
- low-tech coins re-counting during encashment;
- necessity in constant physical logistic of coins from-to cash desk;
- coins are settling in pockets, purses, car doors and other places of cash “storage”;
- copper production for the coins extremely destroys the environment;
- coins circulation is unprofitable for all participants of the market.
Some global statistic facts about coins:
- · 4 billion coins - The Royal Mint of Great Britain produces annually
- · Over $200 million – Americans lose in coins annually
- · 70 coins – are in the purse of average Ukrainians
- · 7,0 EUR in coins – is in purse of every German
- · 3,8 billion coins – produced in Russia annually
SOLUTION: In order to solve this problem we propose to use our Liqpay.com platform as a platform for coin change accounting and payments, and Mobile Phone № as universal synonym of moneybox account.
Scenario of the digital change delivery at cash-desks:
- Cashier (in bank or shop) enters the MobilePhone № + Change Amount into the POS-terminal or Cash-Desk software.
- Customer gets the receipt with the text “Change in amount of 0.82 EUR has been credited to your Phone №» (i.e. Liqpay account number). And SMS with the same text is sent to his Phone №.
- How to withdraw the accumulated change: to transfer to VISA card of any bank in the world, to get in cash in one of the 10 000 ATMs in Russia&Ukraine, top-up mobile phone, spent in shops or at the Liqpay.com web-site.
Today Liqpay have already implemented this technology in 3000 branches of his partner Bank - PrivatBank in Ukraine, and in his 40 000 POS-terminals in retail stores.
During the pilot period we have received positive feedback about technology from cashiers and customers of our branches of all ages.
Related Video:
- How it works in Bank branches: http://www.youtube.com/watch?v=ELn5LjiqyGI
- How it works in Retail store: http://www.youtube.com/watch?v=UKYJgCZbOUc
- or our Leweb speech: http://eu.techcrunch.com/2009/12/09/leweb-make-coins-digital-with-liqpay/
Additional information about Liqpay.com:
- “Liqpay and Visa Int. announced strategic partnership”: http://tinyurl.com/yaun9z7
- Interview for e-commerce journal: http://www.ecommerce-journal.com/interviews/17980_liqpay_we_dont_see_any_limits_for_our_growth_exclusive_interview/