Interview APP Founder – Peter Wei
Name Founder: Peter Wei
Name Company: Latipay
Name App: Latipay APP
Category App: Payments/Financial Technology (FinTech)
Free or Paid App: FREE
Is the App created for a certain country/area or worldwide: Worldwide
Latipay is changing the way global business interact through alternative payment methods. Latipay enables merchants to receive cross border transactions fast, cheap and simple. Latipay is available anytime anywhere for global merchants and with a current focus on Chinese consumers paying via Alipay and WeChat Pay. Latipay is secure, fast, reliable and easy-to-use.
Global business (with a current focus on Chinese consumers):
Education, travel, exporters, Chinese tourists, Chinese students, importers, E-commerce, payment providers, daigou food & beverage, transport en tech companies.
Latipay has now offices in Singapore, New Zealand, Australia, USA, Dubai, China, UK and Europe.
Appstore and Google Play App link:
As Founder of this fantastic App, what was your motivation to create such an App?
PW: “Cross Border Payments need to be simplified. There is a demand for this service. Our APP makes this a smoother and more simple process for merchants and for their customers. Our company understands this industry and does it very well.”
Why should App Users download this App?
PW: “If your business already has, or wants more, Chinese/international clients then this App enables you to be able to accept their preferred payment method with ease…. for free!”
What are the advantages compared to other similar App’s?
PW: “We have focused on simplicity with functionality. This has been a core focus of development for our tech team. At Point Of Sale the process is simple. We also offer the option to email or send your invoice (QR Code) directly to your customer via email or WeChat.”
Can you tell something about the process, challenges, hurdles and time spent from the moment you start (The Idea) till the moment you launched the App at the AppStore / GooglePlay?
PW: “Although we spent a lot of time on market research, it wasn’t until we were able to view merchants using our App to get true feedback. As we focused on simplicity and functionality we were able to use our real-world feedback to enhance our product to our clients’/merchants’ needs. We had little to no compliance issues as this App is a part of our larger production range… all of which are fully compliant internationally.”
Once you launched the App in the Appstore / GooglePlay, what did you do to promote this App to your target audience (user group)?
PW: “We used our internal database of current merchants and contacted them via email and phone. For external promotion we promoted via both western and Chinese social media. We attended various events where would could showcase our App and give live demos to target markets.”
Do you think Applepies (as worldwide rating and reviewing Online App Magazine) can have a certain role in this?
PW: “Yes, and we would like to be a part of this process together.”
You as a visionairy person, what is your view on the new technologies of the digital smartphone (App) world. Do you think that within 1 to 5 years App’s will be indispensable?
PW: “There is no doubt in my mind that the functions and availability of Apps will be a larger part of our lives. I expect, and would like to see, a world where access to these technologies is readily available and affordable globally. This is the true way for global growth; not just in our sector, but the technology industry as a whole. Cash will be a thing of the past.”
Are you currently (still) looking for investments or funds to finalise or optimize your App?
PW: “No, we are managing all our development internally.”
Are you familiar with the definition Monetization (how to earn money with your App)? Are you open for ad companies sending advertisements through your App?
What is the business model of the App (how does the App earns money?) Think of advertisements, premium subscriptions in the App etc?
PW: “As we are not selling a product (merely enabling a service) we do not require to have additional forms of revenue from our App.”
Last but not least is there anything you want to recommend other App Founders/Creators?
PW: “ The tech industry is fierce and fast-paced… it is easy to get caught up in the hype and it can, at times, be rather intimidating. My advice is stay simple and focused on what you or your company does best.”