The Foxee payment service will make it easy for customers to pay for products, services, microtransactions and online entertainment. We plan to launch Foxee in 2025 with selected partners. We will also use Foxee on our own e-commerce sites.
We have been working in the gift card industry for over 14 years. As a result, we know how important variety of payment methods, security and speed are to customers when shopping online. When we entered into physical sales in retail chains 5 years ago, we also recognized the power of cash and its underestimation among Czech and Slovak payment methods.
However, every payment method also brings specific risks that we had to learn to work with. That is why we have developed unique security processes to protect our partners and customers, and we continue to improve these mechanisms. And we are now using the know-how we have gained in this way to build the Foxee payment service.
Our payment gateway will primarily provide payment services suitable for the online entertainment segment and the world of microtransactions in general. Some of the payment methods we have been using ourselves for many years and some will be quite unique, so we need to develop them first. And of course there will be no lack of cash and our large network of retail chains that we already work with.
The combination of all this makes for a unique project, which will also be supported by the big well-known companies we are creating the service with.