Interview with Igor Koroshev, Chief Marketing Officer at Blackcatcard
Can you provide an overview of your company and its unique offerings within the live cam industry?
Blackcatcard is a fintech brand that provides digital banking solutions for B2C and B2B customers alike. Our ultimate goal is to become the leading provider of embedded finance on the market. This means that we aim to incorporate our payment solution, for instance, into an accommodation booking service so that all transactions between hosts and guests would occur through our IBAN accounts. This would, of course, work not just within the travel industry but also, for example, live cam. However, currently we are testing split payments. In its essence, they will allow content creators to automate commission payments for the studios. When they decide to withdraw money from OF, the agreed upon percent will automatically be deducted from that amount and paid over to their studio. This will resolve any potential misunderstandings between the parties and allow creators to forget about the very necessity of manual payments. I would say this is potentially a trendsetting innovation. As far as we know there are currently no similar options available on the market.
How does your brand support and empower models within the live cam industry, and what resources or tools do you offer to help them succeed?
In light of the recent changes and requirements associated with DAC7 and VAT in Europe, Blackcatcard is fully aware of the challenges faced by agencies and models when facilitating payouts from platforms like OnlyFans.
We are actively working on optimizing the accounting and payout process to make it as simple and user-friendly as possible for both agencies and models. Our approach includes a custom solution that helps everyone understand their tax responsibilities clearly and automates how revenues are shared with VAT in mind, ensuring all parties receive their fair share of earnings and meet tax regulations.
Our brand’s general idea is that everybody, regardless of age, nationality, occupation and other factors, should have access to simple and effective tools to manage their finances. That, of course, means different things to everyone. If we talk about models (and studios that support them) we can agree that managing these regular payments can be time and energy consuming. We aim to provide such a solution that would, on one hand, allow models to focus on content creation or really anything else rather than always bearing in mind that they still have to pay their fee. By saving them these resources we believe that we can introduce something new to the entire industry.
How is it that a digital banking brand has turned to the live cam industry?
Fintech in general is a highly competitive industry and it dictates the need to go an extra mile in order to stay ahead or at least level with all the challenges. Given that Blackcatcard is a relatively young brand we need to go several extra miles and do much more than our already established competitors. And this is exactly why we are entering the live cam industry. We believe that the key to success is hidden in exploring, finding something new, collaborating with partners from various industries – and making mistakes sometimes. From the looks of it, however, we believe that this particular case will not be later seen as a mistake from our perspective.
Can you share any upcoming innovations or developments that your brand is working on to enhance the live cam experience for both models and viewers?
In the world of adult entertainment, studios, agencies and models navigate risks around commissions payment, legal issues, challenges with corporate accounts, and account blocks after platform payments. Being a very dynamic fintech brand, we are trying to deep dive into our customers’ industry and find out what problems they are facing where our products could be the best fit. Or alternatively develop certain innovative products that would compliment and simplify their business activity. When working with content platforms like OnlyFans and being part of some agencies, models would probably want to simplify all this revenue share process, minimize stress and manual work, ideally to forget about it. We are now under the test with Blackcatcard new product created exclusively to streamline collaboration between the models and agencies and automate their revenue stream split.
The process is very simple. When signing up with Blackcatcard, models agree to pay the agent’s commission based on mutually agreed terms. A percentage of funds received by the model from content platforms goes directly to the agency corporate Blackcatcard account. Models can cancel the service through the Blackcatcard app anytime after the specified period in the offer.
In what ways does your brand prioritize user safety and privacy, and how do you ensure a secure and enjoyable experience for all participants in the live cam industry?
Blackcatcard is issued by Papaya Ltd. which is licensed by MFSA. This means that, according to GDPR, all our customers’ data is stored securely and third parties do not have any access to it unless such access was granted to them by the customers themselves. We fully comply with EU’s financial and tax laws and create our products in strict accordance with all these regulations. This ensures 100% security of all transactions and personal data.
We also have built-in security features. For example, each transaction is protected by 3D Secure which requires a PIN or Touch/Face ID as a confirmation and therefore it cannot occur unless authorized by the customer. Also, every time a card is used, the owner receives an instant push notification and can instantly block their card using our 24/7 support team in case a certain transaction looks suspicious.