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.
I would just add that at the beginning they used PayPal as a payment processor. This “cooperation” ended very quickly ;-). We only can guess why.
Kairos’ affiliates use(d) to pretend that payment processor is company’s business partner.
I’ve been a part of this shit show since the start of this year. I got paid every month until now (August). Bought platinum package for $2777 and received almost $4100 over these almost 8 months.
I contacted their facebook page on monday through messages, this is the result – i.imgur.com/4l2osal.png
I bet when this person said to me “Surprising words from a loyal Participant.” he/she must have been laughing at me even trying to contact them.
Just wanted to share my experience since that’s the only thing I can do at this point.
Kairos Technologies Limited’s answer to Paysera’s warning:
kairosplanet.com/paysera-system
LOL:
so Paysera == hackers OR “malicious users” (kairosplanet.com/access-to-kairosplanet-system-04-09-2016)?
kairosplanet.com/paysera-system
Paysera made its “analysis” from sources like this page, without even contacting the staff of Kairos Technologies.
What kind of professional institution does that? The one who is paid by someone else in Lithuania… Really dirty way to fight with competition in mlm…
I’ve been a part of this for 6 months now, but I have succesfully withdrawn money, even now, this month from PaySera.
I have no problems. But if the hacking thingy is true, I can understand why they may not reply all of emails due to majoroty of people wriiting to support.
They are probably having to much emails comming in all day. It may sound strange to some, but I had no problems howsoever.
@GG paysera
Why does Paysera need to contact Kairos Technologies to verify their business model? They can weigh the compensation plan with the money laundering going on through Kairos’ processor account.
And do you really think Paysera didn’t contact their client?
Kairos Technologies wouldn’t have been able to deny their business model, which prompted cancellation of their Paysera account.
But please don’t let the facts get in the way of your conspiracy theories…
Article updated with response from Kairos Technologies.
I have been a part of Kairos Tech. since August. So far everything works really well. I bought Platinum plan (2777$) and since have generated my income and received every payment.
I know that the company have made harder to verify accounts, however people are also smart – they use the 14day return possibility to get bonus and then terminate the account, repeating the pattern.
Most of what I read about the company is rumours of rumours and no one has really made any ANALYSIS whatsoever. Paysera quoted some unknown russian blogs and delfi (which is all propoganda anyways) and so on. I am really sceptical that others did contact real people in Kairos tech.
Time will tell.
Kairos Technologies pay a ROI with the only verifiable source of income entering the scheme being affiliate funds.
It’s a Ponzi scheme through and through.