Such genre as "interview" has not been very widely represented on the pages of HYIPNews.com recently. HYIP admins do not really want to talk to the press and no one even asks them serious questions anymore. Therefore, after solving the problem of one of our readers with the payment processor Global Digital Pay, we got the opportunity to talk to them and decided to use it. So, see below in order to know what we found out.
I have to clarify something. Our questions were answered by Andy Heron, Managing Director of Digital Trade Network Ltd, the company that owns Global Digital Pay. In addition, Mr. Heron is the founder of London Gold Exchange (!), but the questions in this interview are mainly about GDP. We are confident that this was not our last conversation and in the future we will be able to communicate with Mr. Andy Heron not as with the representative of the payment processor but as with an experienced and well-informed participant in online finance field.
"I wanted to provide a better e-currency for everyone," - Andy Heron.
HYIPNews.com (HN): Hello, we would like to start our interview with the basic, of course.. What is GDP? Answer this question in one sentence, if it is possible.
Global Digital Pay (GDP): Global Digital Pay is a private, offshore Digital Currency
(HN): Online investors, people who participate in the world of HYIP investments know your project as a site, as an icon among payment processors of different programs. Even all your clients don't know what stands behind this all. Who are these people, where do they work, what do they do? In other words, how does your organization look like? What's on the other side of GDP's monitors?
(GDP): We have 10 staff spread out in different parts of the world.
In Hong Kong we have our Admin office, with our accountant, auditor and admin assistants. In Kuala Lumpur, Malaysia we have our dedicated Technical Support team and in Australia we have our Customer Support Center.
In Beijing, China we have our new Debit Card Processing Center. I spend time at all the centres', so find myself travelling a lot.
(HN): It is said about the beginning of the history of GDP on ï¿½about usï¿½ page: Its owners have been involved in the digital currency exchange industry since 2002. There are no other dates. And no names either. Tell me please, who were (or are) this owners and when exactly did GDP appear?
(GDP): It's no secret that GDP is founded by the same person (me!) that operated London Gold Exchange. In the last few years LGE was operated with 2 Franchises so I could step back from LGE to concentrate on GDP. GDP was officially opened in June 2009.
(HN): Despite the fact that the history of formation and development of GDP is rather short, you have already achieved quite impressive results. The SEO of Solid Trust Pay Stella admitted that you are their competitor in an interview published in May this year. How did you manage to succeed?
(GDP): Success was all down to word of mouth and TRUST. People knew of LGE and its flawless history. So it was easy to gain the trust early on when I first announced GDP to the world. It of course is a very tough industry to get a foot in the door, but our network of Exchange Agents and Merchants, many who I have known for years helped spread the word.
(HN): And another question arising from the foregoing, the question about competitors themselves. Which of the payment processors you would consider similar to yours. Which of them have the same format, focus and share the market with you?
(GDP): We are always improving and evolving and we consider the bigger players to be our main competitors. Liberty Reserve and Perfect Money are similar business models to ours and are the size and popularity that we aim to achieve, so these are the ones we are chasing.
(HN): What is your primary difference? Or, roughly speaking: Why are you better?
(GDP): Once again, proven TRUST. Our business integrity and up front honesty helps too. We think our web site offers so much more, with better security, ease of use and with our continuous investment and improvements, we offer long term stability.
(HN): What is the level of your current development? I mean what is the transaction, the number of accounts and income?
(GDP): What can serve as a criterion of your reputation and significance? How many merchants do you officially have?
We have over 15000 active accounts with many thousands of transactions per week. It's a private business so I can't indicate the level of income or our inventory. We have 36 CERTIFIED Exchange Agents and over 100 Merchants using us at the moment.
(HN): HYIP industry (or as many people persistently call it investment gambling industry) is a shadow zone of the Internet. However, there are clear principles that allow one to predict processes and to make profit. Tell me, what is your policy regarding HYIP and other fields of high-yield moneymaking online?
(GDP): We are free trade advocates operating in an offshore environment with a private e-commerce system, simply perfect for all types of HYIP. Our policy allows this type of business.
(HN): What exactly should administartor do (and how) in order to have an additional payment processor called Global Digital Pay on his site? Could you describe it please? If you can, including the technical part of the question but without details. How complicated this process is? How much does it cost?
(GDP): GDP is free to implement into ANY web site. We have a fully functional API with a shopping cart interface, automatic payments, and many additional features making it an excellent addition for all businesses that require a payment solution. Merchants can add a simple payment button or create a fully integrated sales process with their web application and database using our special merchant tools.
Also, most HYIP scripts already have GDP as a built in payment option, and if they don't we will assist to make sure that owners of the scripts can add GDP.
(HN): Why your system is not commonly used by the participants of HYIP industry? Would you like to take a share in this field?
(GDP): We are still a young company and HYIP admins are very 'died in the wool' with respect to the e-currencies they accept. We have a fair few HYIPs that are using us, but not as many as we'd like. But in time, our popularity will grow and you will see our payment buttons appear more and more.
(HN): How often do you have to disallow someone to accept Global Digital Pay? What are the reasons of doing so? Could you tell us about any cases related to the industry of high-yield online investment?
(GDP): We rarely disallow a Merchant account unless it is proven beyond doubt that a fraud has taken place.
(HN): You have an affiliate program. It is common to call it a "referral" program in our field. According to it, anyone can register on your site and earn 10% of the fee (charged on transactions of people who have registered ï¿½under himï¿½) by using a special link. Are there any promo materials or banners for this?
(GDP): Yes we have a section in the Account part of the web site dedicated to this. We have loads of banners and buttons for everyone to use.
(HN): The issue of chargeback and refunds is very important to our readers. What are the principles of GDP over these things which ensure the safety of working with payments in risky areas?
(HN): What is required from a person, let's say online investor or simply someone who wants to use GDP? What are the limitations? This information is presented in detail on your site, but we would like to know the main aspects.
(GDP): You can use our service without the need for ANY Verification. As long as you keep your OUTBOUND Payments to less than $30k in a 30 day period. Most people will be under this limit. If you are going to be sending more than $30k then you will need very basic verification done (ID and Utility bill).
For ultimate security we do require that you have a valid phone number (even a prepaid cell phone is fine) so you can receive a security code if you need to change your profile details or Security PIN.
(HN): What are your development plans, what should online investors and ordinary Internet users expect from GDP in the future?
(GDP): We are very excited to announce the GDP Debit Card will be launched on 1st October 2010. Users will be able to simply withdraw their funds straight to their card! We are going to totally re-design and upgrade the web site in 2011 and add multiple language versions along with many new exciting features.
My aim is to build GDP into a solid, well run and competitive alternative to the other options available. Over the next year we will gain more exposure and become a very serious player in this industry.
(HN): Is there anything you want to wish or recommend to all readers of HYIPNews.com, online investors and participants in the Internet economy or ecommerce?
(GDP): I'd like to thank our account holders for supporting us and hope that readers of HYIPNews.com will at least open an GDP account and take look at what we have to offer. This is a volatile industry and it needs stability, GDP was created to set a precedent and generate a new era of trust.
The best of luck to everyone in their investing.