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Yavor started iCard in 2008. They detail the beginnings of their company in their Starter Story interview: 
Q: How did you get started on iCard?
My co-founding team and I had an idea, or a dream, to innovate and redefine card payments and make them more accessible and affordable. The idea for the so-called e-money solutions came to fruition way before the legislative body of the European Union defined guidelines, drafted laws and regulations for our industry.
Together we created the company from scratch and built a new real-time transaction processing system directly integrated with all major card schemes such as VISA, Mastercard, AMEX, JCB, UNION PAY.
Being a pioneer means going places no one has visited before.
We’ve faced numerous challenges from both legal and technical perspective.
For the past 30 years, we’ve been witnessing enormous digital progress. The big US market leads the way to tech adoption with consumers changing their perceptions on a mass scale.
I remember the days when the majority of people were afraid to use their credit and debit cards for online payments. Then the market boomed and we saw the emergence of behemoth online retailers like Amazon and eBay, who were a major driving force for the build-up of trust in tech.
Next was the adoption of mobile devices. I was very optimistic for all of this because these new, tiny computers were packed with digital horsepower - from the start, smartphones were as fast as desktops and laptops. The big difference? They came into our lives and stayed with us 24/7.
The concept of technology taking up more and more of our personal attention was actually the driving force for creating the iCard digital wallet.
The concept behind iCard
We want to make payments easier and more affordable while opposing the long-standing banking model. We are providing an alternative because banks always find reasons to slap you fees for things that do not even incur administrative costs.
Our strategy is different!
We give out most of our services for free and only charge small usage fees for processing transactions we have expenses for.
Besides saving money on fees, we give people something even more valuable - a way to save time by not having to visit bank branches anymore.
Things in Europe are different than in the US … or in China, who is a leader in mobile tech adoption with centrally governed and unified digital services.
As much as we would like to take advantage of the 2-times-bigger-than-the-USA European market, it proves to be a challenge with 24 official languages, different connectivity and technology penetration levels.
Still, the relatively slower technology adoption pace on this side of the Atlantic, along with the market vacuum that the language differences create … was tempting.
Fast forward, I’m happy to keep busy building an awesome product and creating long-lasting relationships.
It’s a pleasure running a team of over 250 highly-qualified professionals in software, finances, customer service, and marketing.
Contributors to this article:
- Pat Walls, Founder @ Starter Story
- Wiki Updater