Never be afraid that someone will copy your idea, because no one needs it!

March 05, 2018 Olga Canneberges, Digital PR & IT Projects 0 Comments

Never be afraid that someone will copy your idea, because no one needs it! I’m meeting the CEO of Tap2Pay, Evgeny Palchevsky, at the “Innovation and technology Park Minsk” to find out about his start-up that allows clients to make payments through Facebook messenger.

Olga Canneberges: Could you tell us about your startup?

Evgeny Palchevsky: is a start-up that enables payments in online instant messengers, as well as using QR-codes offline. Why is our product so important for sellers and buyers? Because it speeds up the buying process. It does this by saving the entered credit card number and link it to the account, messenger, or phone number, and then you pay any invoices that you get through Tap2Pay at the touch of a button. We increase the speed of conversion by 20-30% and speed up the payment process by 300%. Why have we created this product right now? According to statistics, more than 60-70% of consumers use mobile devices, and the number of such users is constantly growing. As a result of all this, messengers have become very popular. In Asia, for example, messengers offer a great deal of functionality. In China, you can buy a plane ticket, pay for a taxi or settle the bill in a restaurant using a messenger. Increasingly, there is no need to carry a wallet. Once you enter your card number in the messenger, you then either scan the QR- code or receive the invoice and pay at the click of a button.  In Europe, this process is not fully developed yet, but everything is already in place to implement it soon. We took on this ambitious project in order to create a new payment method that gives both joy to customers and more customers to sellers.

 Olga Canneberges: In short,  is this a cash register of the future?

Evgeny Palchevsky: It is your wallet. There are also such services as Google Pay, Samsung Pay, Android Pay: you can link your card to a mobile phone, attach it to the device and pay. The disadvantage of this method is that the seller must have a device that accepts payment, and it costs a lot at the moment. This is a physical device that you need to order from a bank, wait until it is installed, and then hope it does not break down. To work with our product, you only need a client and his mobile phone. He opens his messenger, takes a photo of the seller's QR code, enters the amount, and sends the money. The seller automatically receives a message on his phone that the amount has been paid. That's all. Why, for example, was PayPal created? PayPal became successful because they solved the problem of payment security on the Internet.   Nevertheless, PayPal’s time has already passed, and it's time for Tap2pay. We are still small. We can behave aggressively. We know we can offer the market a very cool product.

Olga Canneberges: How did you come up with such a product?

Evgeny Palchevsky: I never liked the process of making payments via a mobile phone. To buy a movie ticket, for example, you need to visit the website, select a ticket, find your bank card, and then use the payment system. It’s too complicated and time consuming. Therefore, I really wanted to create a much simpler and more straightforward method of payment. We came up with the idea of merging messengers and payments. We also drew upon the experience of many Asians, who use the popular App WeChat. This is very multifunctional, and companies even do promotions through WeChat.


Olga Canneberges:  What is your main goal?

Evgeny Palchevsky: In short, it is global domination (he smiles). Today, our goal is to extend our solution to as many customers and users as possible, to attract big brands, sellers and services, which sell digital products, movie tickets, coupons, etc. What we are striving for is to focus on spreading our solution in Western markets, as well as in Belarus and Russia.

Olga Canneberges: What is the structure of your company?

Evgeny Palchevsky: This is a typical start-up. We have a CTO and a CMO.  There are also partners in Israel who help us with sales, as well as in Finland, who tell their potential customers about our cutting edge solution. We are a small company that has been operating since 2011, and deals only with its products, solutions and ideas.

Olga Canneberges: Who are your main clients at the moment?

Evgeny Palchevsky: At the moment, a large number of our customers are at the initial stage of connecting to the service;  they are not active users yet. We are negotiating with large companies such as WalMart, as well as some big game developers. We also have clients who sell design services, templates for websites, and discount coupons. It is convenient for them, because you do not need to register customers, which promotes sales growth.

Olga Canneberges: Would you like to share any other thoughts with our readers?

Evgeny Palchevsky: I want to say to startupers, especially from eastern Europe: do not be afraid to talk both about the products you've created and the ideas that have not been implemented yet. Talking about your idea doesn’t cost money. Never be afraid that someone will copy your idea, because no one needs it. There are billions of ideas. The question is whether others can create and implement their vision. The commercial market is always changing, the Internet is actively developing, and people are still using methods of payment developed in the 70's. Just like once wheels were put on a suitcase, now we combine payments and a phone. We believe that we are in the process of creating a small revolution in our region. Now we can combine three messengers: telegram, Facebook and Viber, thereby covering billions of users who can throw away their wallets very soon.


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Olga Canneberges, Digital PR & IT Projects