In the course of our FinTech Review series, we looked at the Lithauische Caspero. The company belongs to the FinTech Group of the Israelis Eyal Nachum and Tamir Zoltovski. On the website of Caspero, it is stated that the company acts as an authorized agent of International Fintech UAB licensed by the Bank of Lithuania. Also on the website, one is invited to join the millions who allegedly already use Caspero.
On his LinkedIn profile, Eyal Nachum presents himself as Executive Director of his Lithuanian Fintech Caspero UAB. Hence, he seems to be in charge of Caspero since its inception in 2016. Nachum is said to be a FinTech expert and just recently published an article on this subject in Global Banking and Finance. So, we expected Caspero to be an attractive FinTech startup.
According to the description on its website, Casparo evidently seed itself as a challenger to PayPal. Caspero clients should be able to move money easily, securely and quickly via email addresses, for example. Unfortunately, we can talk here unfortunately only in the subjunctive because during the more than two weeks in those we and our friends have tried many times to register with Caspero the system has not worked. The only answer was always the message “Server error”. The system just doesn’t work and nobody seems to notice that at Caspero. Strange, isn’t it?
Based in Lithuania, Caspero is a payment processing platform, providing digital payment solutions to businesses worldwide. Caspero works together with various Internet-based merchants and furnish end-consumers. Our main focus is on the highest level of security … This guarantees merchants and consumers safety and trust amongst one another regarding payments to companies for services and goods rendered.Caspero on LinkedIn
A quick look at Caspero‘s website statistics provided by SimilarWeb shows that the site actually has almost no visitors. In the global SimilarWeb statistics, the Caspero website is somewhere in the 28 millionth place. This means that Caspero does not actually acquire customers online, neither individuals nor merchants. The announced millions of users are either a downright marketing lie or one refers to the millions of users who already successfully use other payment systems like PayPal. Or, maybe, Caspero found a secret way to acquire online clients without using its own website.
Caspero website doesn’t work and the company doesn’t care. Otherwise it cannot be explained that server problems last for weeks and are not solved. This is usually the death for online companies and especially for online payment companies.
Maybe Caspero doesn’t actually want any new customers at all, because they earn enough money in other ways. In this case, Caspero would be a Potemkin village. We have a certain hunch, but we can’t confirm it definitively at the moment.