FinanceFeeds has unveiled a compelling video interview featuring key figures from Payperless during the Fintech Unplugged 2.0: Afterparty, an event that took place at the iFX EXPO International 2024 in Limassol, Cyprus. This significant gathering was supported by industry giants Sumsub, Nexpay, and Finery Markets, drawing together leading professionals from the fintech, trading, crypto, and blockchain sectors.

The event’s coverage by FinanceFeeds included an exclusive interview conducted by Editor-in-Chief Nikolai Isayev, who spoke with Oleg Zyryanov and Nikita Plotnikov, the CEO and CPO of Payperless, respectively. The conversation shed light on Payperless’s innovative approach to simplifying cryptocurrency transactions for both experienced traders and newcomers.

Payperless offers a user-friendly crypto wallet that streamlines the process of buying, selling, and managing cryptocurrencies. Users can effortlessly purchase crypto using their credit cards, finalize transactions in minutes, and monitor their portfolios and expenses with ease. The platform’s website highlights its simplicity: “All you need is a phone number to get started – just sign up and start trading!” It supports various funding methods including credit cards, debit cards, bank transfers, and cryptocurrency exchanges, enabling transactions in Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tron (TRX), and more. Payperless is also versatile enough to facilitate spending cryptocurrency on goods and services globally.

A cornerstone of Payperless’s platform is its emphasis on security, compliance, and user experience. The company has made substantial investments in advanced technology and stringent security measures to safeguard users’ assets. This robust infrastructure ensures the platform can scale efficiently to meet the escalating demand for cryptocurrencies.

In 2024, Payperless has been particularly focused on expanding its offerings to businesses. This includes developing an over-the-counter (OTC) exchange, a crypto payments processing platform, and a comprehensive banking service. Additionally, they are launching an omni-currency payment service provider tailored for regulated high-risk businesses and e-commerce ventures. These initiatives have been soft-launched with trusted partners, with a full-scale launch anticipated by Q4 2024.

Oleg Zyryanov brings over a decade of experience in financial technology and has successfully founded multiple businesses in the crypto payments and infrastructure sectors across the US and Europe. Similarly, Nikita Plotnikov boasts an extensive background in fintech, having held pivotal roles in prominent tech companies such as Dataduck, Dats.team, and Bank of Saint-Petersburg.

The interview delved into the increasing demand for payment processing services fueled by institutional adoption of cryptocurrencies. The executives expressed optimism about this trend, noting its potential to reshape the market landscape significantly. They also welcomed the impending Markets in Crypto-Assets Regulation (MiCA), set to take effect on December 31, 2024, in the European Union. This regulation is expected to reduce legislative barriers and promote broader acceptance of crypto.

Payperless acknowledges the importance of regulatory compliance in maintaining a competitive edge. “MiCA is coming next year, and crypto regulations are here to stay,” they stated. “We believe that those who adapt quickly to these regulations will lead the markets. Our goal is to ensure our payment solutions remain compliant while being accessible and affordable.”

The discussion also explored emerging trends in the payments sector, particularly the role of artificial intelligence (AI) in fraud detection and prevention. Furthermore, they highlighted the integration of crypto wallets with credit cards, providing users with a seamless payment experience akin to using traditional cards but linked to their crypto assets.

Addressing security concerns, Payperless emphasized their non-custodial wallet model which mitigates technological vulnerabilities associated with security breaches. However, they acknowledged the challenges posed by social engineering attacks. “It’s simple,” they advised users. “Never share your OTP or passcode with anyone under any circumstances. We enforce 2FA everywhere to enhance security.”

Mr. Zyryanov and Mr. Plotnikov also discussed the delicate balance between innovation and compliance while maintaining customer trust. “Balancing innovation with compliance and ensuring customer trust is our paramount concern,” Mr. Zyryanov remarked. Mr. Plotnikov reiterated their commitment to regulatory adherence: “We prioritize user privacy and compliance, ensuring that our innovative solutions are secure and trustworthy.”

These insights from Payperless executives offer a comprehensive perspective on the current trends and future directions in crypto payment processing.