Paysera terminate Kairos Planet processing, warn customers
Over the past month or so Kairos Technologies has been coming up with excuse after excuse regarding non-payment to affiliates.
In addition to “technical problems”, “hackers” and “malicious users”, Kairos Planet also lost ePayments as a payment processor last month.
ePayments were promptly replaced by Paysera, a small Lithuanian payment processor.
Over the last 24 hours Paysera sent out a warning email to newly created accounts. Citing “independent research”, Paysera claim Kairos Technologies is an “illegal financial scheme (pyramid)”.
On the Paysera website the payment processor claims to be “supervised by the Bank of Lithuania”.
In late July the Bank of Lithuania forwarded their own research to authorities, after investigating Kairos Technologies and finding ‘signs of (the) business acting like (a) financial pyramid‘.
Whether Paysera are working with the Bank of Lithuania or local authorities is at this time unclear. The processor however is actively warning its customers not to participate in the Kairos Technologies MLM opportunity.
Kairos Technologies meets most features of an illegal financial pyramid:
• A large return on investment with low or no risk;
• Few reliable sources are found when searching for information about the company;
• Clients face difficulties when receiving payments;
• The structure is based on the pyramid principle – people on higher levels receive income from people on lower levels;
• A major part of the income depends on the number of newly attracted participants.
The company states that Paysera and Kairos have concluded special agreements, which have never happened in reality.
We encourage our clients to not trust the present company, do not transfer any money and do not reveal any personal data to the company.
Holes in Kairos Planet’s business model are also exposed:
Advertisements and presentations of the company state that it sells Internet safety services and products, while the Paysera research has shown that the company has no real services or products from which it would generate the amounts corresponding to its income.
All services and products are fictitious.
The company has no real clients of these services, while statements that its services are used by well-known companies are limited to information on the website and are not grounded by any confirmations from other parties.
Kairos Planet states that its ability to pay out large amounts of money comes from selling computer resources provided by the participants, but after taking a good look at the prices a person can notice that it would be cheaper for the company to rent computer servers and other information receptacles than paying large amounts of money for clients’ computer resources.
According to the current pricing, a three-month rent of computer resources costs the company as much, as a new computer.
BehindMLM drew similar conclusions in our September 2015 Kairos Technologies review.
Also mentioned is the current state of Kairos Technologies finances;
At the moment, the financial state of Kairos causes suspicions and concerns, as it seems that the company is approaching a collapse and have already suspended numerous payouts.
Bear in mind this is coming from a payment processor with some degree of insider knowledge pertaining to Kairos Technologies’ current financial situation.
The company explains that it cannot perform monthly payouts because of attacks by hackers.
Kairos Technologies has also found a new way to suspend payouts to people for a longer time and play for time so that more people would invest their money.
The company has started to ask for additional personal identification by submitting copies of personal documents. They asks people to make a photo with a personal document or contact them via Skype.
This process and verification of the identification takes from 3 up to 13 weeks.
Such identification time is illogical and shows that the company tries to delay the payouts.
Note however that whilst Paysera appear to have terminated Kairos Technologies’ processing account, they have not (so far) done anything to affiliate accounts.
Please be informed that your Paysera IBAN account is active and any sender can transfer money to you. Crediting of funds to your account is limited neither for transfers from Kairo Planet, nor from other payers.
Should Kairos Technologies sign up with another processor, they would still be able to transfer funds to affiliates with Paysera accounts.
Whether Kairos Technologies are able to sign up with another payment processor remains to be seen.
Update 8th September 2016 – Kairos Technologies have responded to Paysera claiming they are a pyramid scheme via a statement on their website:
Dear Participants of KairosPlanet project!
Unfortunately, the letter and its content that scattered panic amongst Participants, sent by Paysera system, has the same pattern as continuous malicious attacks on KairosPanet System. This is a direct evidence of unfair competition against our project.
Kairos Technologies Ltd. doesn’t have any open accounts, agreements or partnership plans with Paysera. The Paysera system was recommended as a simple and quick way to obtain a personal IBAN code within SEPA-region.
We ask you to avoid Paysera payment system when making a Guarantee fee payment.
From now on our relationship with them is limited to juridical and legal framework with further proceedings regarding defamation of Kairos Technologies Company and KairosPlanet project.
The broken English infers that legal action may be taken against Paysera, however given the nature of Kairos Planet’s business model this is unlikely.
As for “unfair competition”, what Kairos Technologies is referring to is unclear. All Paysera did was accurately describe Kairos Technologies’ business model.
The company to date has not refuted it uses newly invested funds to pay off existing investors.