“User experience is at the core of our business.”
Lijtenstein is CEO of AstroPay, a pioneer in payment solutions for consumers who want to make online purchases on international sites. Leveraging his engineering background and experience in delivering cross-border payments and connecting global merchants to emerging markets, he combines technical expertise with hands-on experience to drive payments innovation. and solutions.
As always, technology advances faster than laws are passed. This can lead to obstacles such as legal restrictions and transaction limits for certain currencies that prevent the card from being used. Digital wallets are beginning to tackle these issues head-on.
Almost a third (32%) of the world’s population now uses mobile wallets, up from 21% in 2020, according to US financial services firm FIS.
But in an industry where KYC is such an important factor, do providers really have a clear picture of who their customers are and what they want?
For AstroPay CEO Lijtenstein, understanding the needs of users in different jurisdictions has underpinned the success of his digital wallet solution.
“User experience is core to our business,” he says. “You have to make sure what you give to your users is what makes them happy. Having his UX seamless will increase your conversion rate and this is what you will achieve.”
Astropay It started in Brazil in 2009 and has spread to Latin America. Shortly thereafter, the company began global expansion in Asia and Africa, opening operations in Europe, the UK, Spain and Portugal during the pandemic.
Despite this seemingly rapid expansion, the company has expanded across Latin America before expanding into Asia, Africa and now Europe, Lijtenstein says it’s not a one-size-fits-all approach. “You have to analyze how users pay, how they behave, how they access technology, internet penetration, etc. We focus very differently in every market because they are not the same.”
This makes your business as close to a one-stop shop as anything available on the market today. “We currently have over 200 payment methods available,” he says.
Lijtenstein said having a team in each jurisdiction is key to AstroPay’s success because of its connectivity to the local market.
“We process in Brazil, India, Europe and Africa. Having a dedicated team in each market allows us to bring the most successful products to our users.
“We have a dedicated team that analyzes player behavior,” he adds. “We have tools to detect issues and from there he can improve the product through AB testing. We are continuously adapting to give our users the very best. .
“You should see which local methods work and provide them as a source to your users.”
risk and reward
Risks are rising in the payments industry. This is a turbulent situation subject to constant technological change. This means that incumbents must remain agile, especially in a changing regulatory environment.
However, Lijtenstein recognizes that although gambling and gaming are high risk factors in the payments space, they are not obstacles if the industry is properly prepared. AstroPay achieves this through his KYC system which is robust, progressive and flexible.
“There are always risks and changes in the payments industry, so we need to stay ahead of what is to come. ability of the team to do
As a company, Lijtenstein says that lessons learned in Latin America and other emerging markets have prepared AstroPay for complex Western regulations.
Agility and innovation
We are now beginning to tackle more complex regions such as Europe, applying a rigorous approach after proven success in Latin America, Africa and Asia.
These digital currencies are growing in popularity, especially among the younger generation. AstroPay wants to take advantage of this ‘digital first approach’ on the continents covered.
“We launched in Europe a few months ago and knew there was room for new solutions. It’s mostly used by millennials.”
Lijtenstein recognizes that this is where innovation needs to focus. Electronic payments should be free, fast, secure and easy to use. AstroPay must maintain an agile and dynamic game plan to succeed in all regions.
“Our digital wallet is free and very easy to use. We want to conquer all the countries of Europe. We will go step by step to do so.
“We have been in the industry for 13 years. This gives us a lot of trust from our users and gives us the strength of the industry to keep improving our system and what we offer to our users.”
