Choosing a payment service provider is one of those decisions that is often made early on in a company’s history. In some cases, the business ends up with a provider that came bundled with their banking services or attached to a first merchant account or payment gateway. We spoke to Artem Tymoshenko and Alexandr Mikhalenko, CEO and COO of Maxpay, to learn more.
In one or two sentences, why choose Maxpay over, say, the HSBC’s international money exchange gateway?
Artem: You mention traditional banking with a wide range of services like loans, insurance, saving accounts etc., Moreover, that requires branch visiting. At the same time, Maxpay is a full-scope Payment Service Provider focused on card processing, chargeback management, incorporation assistance for online businesses. We help entrepreneurs with opening merchant accounts, providing billing logics, helping with PCI DSS certification so that companies could accept payments online. You can receive a variety of these services online, no need for bank branch visiting.
Artem Tymoshenko
Alexandr: Besides, we arrange a dedicated account manager for each client, aside from the support team, available 24 hours. The account manager’s task is to handle Merchant issues, both on Maxpay’s side and on the side of the acquirers having issued a merchant account.
Plus, we are providing excellent chargeback management, which saves revenue for our clients. And here the account manager helps our client resolve the problem before it arrives; for example, he or she could analyze the traffic and warn of potential losses because of chargebacks. Also, we have additional services to enhance our risk management, such as Covery. Furthermore, Maxpay provides over 40 of alternative payment methods such as Skrill, Neteller, Trustly, Alipay, etc.
What unique selling points does Maxpay offer? The intelligent real-time fraud tracking? The on-hand human consultation? Both those? What else?
Artem: Our motto: Merchant’s first. That explains our approach to doing things; we are aware of the most significant business owners’ issues, so we have developed the tuned system for different business verticals: e-commerce, gaming, subscription, travel, etc. It means the billing logic depends on the business vertical. Besides, every business requires risk management due to fraud attacks, scams, chargebacks ratio. We have Covery for this purpose, a unique risk management platform that tracks real-time transactions, fights fraud using screening models, Machine Learning, AI.
Alexandr Mikhalenko
Alexandr: Aside from anti-fraud integration, the team helps to set up payments processing, host-to-host integration for enterprise clients. We have billing logic solutions and hosted payment pages for startups as well. Furthermore, we have plug-and-play integrations with Shopify, WooCommerce, PrestaShop, Magento, and others. With an increase in fraud cases due to Covid-19, the online shops might require an additional layer of chargeback and fraud protection. And they can get it from Maxpay – even if they already use said ecommerce platforms. All they will require is to open a merchant account and install a free plugin we provide and start accepting payments securely.
Artem: We are constantly looking for new tools to help businesses solve payment problems quickly and easily. At this stage, we are working on a mobile SDK, which will be helpful for companies that work with payments in mobile applications. For example, SDK mobile payment options optimized for mobile devices allow users from all over the world to make payments in your application.
If a potential customer hadn’t heard of Maxpay, why would they trust you guys? Can you point us at case studies, that FTSE 1000 listing, a page of company history?
Artem: We have big acquirers and partners in the US, EU and Asia , that proves our reputation and stable growth. Such listings as the Financial Times’ top 1000 fastest-growing companies in Europe are good motivational bonuses to our reputation and help to build sustainable partnerships. We’ve been listed two years in a row in the FT1000. Our revenues have grown 2,5 times compared to 2016.
Our dedicated team’s efforts have been acknowledged not only by our clients. Maxpay was named the most innovative international payments platform by CV Magazine Award, and the Acquisition International magazine considers us the best Malta’s online business payment service provider 2020. Besides, Finance Monthly considered Maxpay as the Payment Solutions Platform of the year in Malta, as part of the Finance Monthly Global Awards 2020.
Boring questions: who are your backers? Private company? VC money? Length of time in business? Gross worth, assets, and liabilities?
Artem: Maxpay is not a public company, and it is a self-invested project. From the beginning, we understood that the business model should be profitable without extra investment attraction, but we are open to investors’ proposals . We see the potential in increasing Maxpay’s forces by merging with major Fintech players on the market. Also, for acquirers that want to attract a new market, we can be of major assistance for them in this segment.
Like any business, we learn and grow, as our team comes up with more features to improve upon customers’ experience. We’ve been on the market for over six years, but are still as passionate about developing the product as we were on day one. That’s why Maxpay’s team will continue to unfold our capacities and keep up the quality of services our clients are used to. We are also open to cooperation with bigger players on the market.
Can people go to a brick & mortar building and talk to one of you? Where can they do that?
Alexandr: We are open to new partnerships and it is easy to contact us on LinkedIn. All integrations and partnerships were reached thanks to personal contact through professional chains.
Our team will also be delighted to hear from you if you send an email to start@maxpay.com – we’ll figure out the best option and features suited for your business.
Can people start with a small trial and build up? Is there a way to do that easily? How would you advise interested parties to proceed?
Alexandr: There are several services potential clients can get a trial for. For example, Covery provides a demo on demand; our sales team could show how the system works, transaction monitoring, screening, etc. Maxpay offers an admin panel demo that helps in a basic understanding of how to tune payment pages, monitor chargebacks, transactions, etc.
