Mr. Quang and I started US LLC and international e-commerce business from the end of 2018, starting with FBA on Amazon and then dropshipping via Shopify. After less than 6 months, we started to have a WINNING advertising campaign, scaled around $250k in just 10 days. The feeling of EARNING MONEY within a few short days went away when I was emailed by both PayPal and Stripe with a 25% hold notice. A few weeks later, our Stripe & PayPal accounts were shut down due to our lack of understanding of platform policies and a lack of experience in customer care, leading to a spike in dispute and refund rates in a short time.
This is also the ONLY time we had problems shutting down our accounts. And we still maintain the above LLC US business with the Stripe account set. Despite facing many problems in many stages, we have NEVER had our accounts shut down again.
Mr.Quang and I both have a relatively solid knowledge in international payments, combined with experience in e-commerce business after 4 years of working. In addition to the e-commerce events at the end of 2022 in Vietnam, every Quarter 4 of the year, we can see a very clear loop: Scam, non-ship, payment fraud... occur frequently of the entire global ecommerce industry.
In 2021 and 2022, Mr. Quang and I have the opportunity to network with many local brands that are excel in ecommerce even comparing with other businesses in the world. These businesses all have ambitions to expand into the international market. However, one of the biggest problems these businesses are facing is the lack of background knowledge on international payments. Therefore, I created PlutusPay, to help individuals and businesses remove barriers to international payments.
In 2023, PlutusPay decided to open the course "Payment For Global Ecommerce (P4GE) - Building an International Payment Platform for Cross-Border Enterprises" so that the Vietnamese Ecom community can expand their business opportunities to the international marketplace.