| Holy Damage |
12-27-2021 11:52 AM |
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2021
January: Since audits are slow and complicated we inform the regulator we’re ready to trigger the final stages to reopen our doors and we get back in touch with our banking partners to put new agreements in place. Our new CPO joins the team, with a mission to transform the product and build the future. Our governance framework is audited and approved.
February: It’s been a year since restrictions were enforced, during which we’ve worked continuously to defend the company and protect our customers’ interests. We get approval for our refunds plan and we test the infrastructure to make sure we’re ready to carry it out.
March: The first customers receive their refunds and we receive permission to communicate with all customers. We inform all customers about the refunds. The master program that tracks all the work required to return to normal is around 73% completed.
April: The shareholders reinforce their commitment to the business with further investment, and approve the 3-year business plan. More customers receive their refunds.
May and June: Many more accounts are remediated, enabling thousands of individuals to access their funds. We start talking to prospective banking partners in the UK and US and we start the search for a new EU tech center in which to establish a second base as part of the Brexit implementation strategy.
July and August: We go through the very last audits and processes to get FINAL approvals from the regulator to reopen our doors, in a tiered process that will quickly scale up to full services and functionality. As part of a wide regulatory communications plan, we wrote to all our customers to remind them of how we protect their money as an EMI.
September, October and November: We keep collaborating with legal and regulatory entities to receive the written approvals and terms of business. At the same time, we started to enable the banking relationships with all the banking partners while testing all the integrations and components of our banking IT infrastructure, this is an essential process to serving our customers without any issues or surprises.
So, now we’re ready. It’s been a while, and it may take a little bit more time to get up to full speed. But we have so many plans for the months and years ahead - so watch this space for the next product and feature announcements.
We understand that it’s been frustrating not to know when we were going to be ready to turn our business back on. We hope you understand that we’ve needed to make sure we have the full support of all parties, before making this announcement.
In the backstage, we’ve rebuilt the whole business while we’ve been away. We have taken steps far beyond what we believe was expected of us, so that we and you can be completely confident in our products and services from now on.
3. We’ve got your back
Our customers rely on us for products and services they can’t get anywhere else. Many have grown with us from startups to global success stories, and we’re very proud to be able to show up for you once again.
We’re hugely inspired and motivated by the digital and creators economy’s response to the current crisis. In the face of adversity, freelancers, small businesses, and international entrepreneurs are continuing to do what they do best: driving the world forward.
We understand our customers’ businesses thanks to decades of experience in the market, and we’ve invested heavily in our products and technology over the past year. This deep knowledge has enabled us to rebuild the product to be even more aligned with our customers’ goals. We believe that our platform is fast, secure and cost effective, and what people need right now.
The pandemic has compressed five years’ worth of change into less than one, and people no longer live, work and get paid in a single country and currency. The explosion in remote working has created massive and growing demand for cross-border payments.
Consumers now want their retail experience to be replicated in the payments world. That means instant, frictionless services and great experiences.
We see that, and we’re here for you.
4. You’re safe with us. We mean it.
We’re not going to let this happen again. ePayments is still the same company with all the benefits that attracted you in the first place and we still have the same values and mission but now with a much stronger technology and business approach that’s focused on serving while protecting you and us at same time. Our team and shareholders believe passionately that businesses, entrepreneurs and freelancers need a payments platform that they can rely on.
We’ve now worked on every part of the business to make sure we’re ready to serve you again. We’re determined to help you grow and expand without barriers, as you deserve.
Each part of ePayments is connected to everything else, so in the process of revamping our systems and controls, we have rebuilt the product, our company structure, and more. This is one of the reasons why we’re feeling confident about what comes next.
Have you heard the modern day expression that “Lightning doesn’t strike twice.” ... We have gone above and beyond in order to relaunch a product that we believe you can trust and use with confidence.
5. You won’t want to miss what’s next!
We’re delighted to be back and we have big plans for what’s next, from the next few months all the way up to 2025. Our ambitions for our product, technology and international expansion are sky-high.
We’re in conversations with potential new banking partners that feel more constructive and exciting than ever before. We have new products and features in the pipeline that we know you’re going to love.
We plan to supercharge our wallet feature with extra currencies and new functionality such as Apple Pay, Google Pay, virtual cards for safe online shopping and a peer-to-peer service economy all within the ePayments platform.
We're developing new products and solutions that are tailored for growth and expansion, including new currencies, new payment channels, digital asset investment, new products, automatic tax payment and more. You’re not going to want to miss out.
We would be very glad to work with you again, and we’re keen to keep in touch. What does your business need from us? Let us know by email [email protected]: we want to keep building products and services to support your business as you grow.
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