Punktid Technologies AS comments information disclosed in media
On August 22, 2023, Delfi Ärileht published an article by Richard Mägar about the alleged unfair practices and frauds of Punktid Technologies AS (Punktid) service.
Punktid confirms that the customers’ claims about fraud in the article are not true. Indeed, the delivery time of some products has been delayed and customers have had to wait longer than usual for their products. However, as far as we know, no customer has lost their product or money, because despite the delay, the orders have still been completed or the payment has been returned.
At the beginning of the second quarter, we launched a completely new Punktid platform, which now works entirely on the basis of suppliers who are connected to us through APIs (application programming interface). In the past, we personally ensured the fulfilment of orders, even filling them manually, if necessary. From now on, the whole system is automatic and depends more on the suppliers, their speed and responsiveness. However, getting used to the new system takes time, and it is especially difficult on weekends, when B2B (business-to-business) partners do not work and money does not flow for credit settlement, which is why some orders may be delayed.
"However, the current temporary supply issues do not affect all products. There is still a large selection of products with immediate delivery as well as suppliers who still fulfil the order quickly. For our part, we are currently working to increase cash flows, to ensure smoother cooperation with suppliers. There has also been a setback here as one of our payment service providers had a bug in their system that was exploited by some people to get a huge amount of free products. This mistake was not on our side, but it still affects us strongly", comments Hannes Niid, a member of the board of Punktid.
The article states that there have been three appeals to the Consumer Protection and Technical Regulatory Authority against Gamekeys OÜ, a subsidiary of Punktid Technologies AS, in connection with non-working products. Based on previous experience, in such cases, the problem has mostly been activation of the code on the wrong platform or entering the code incorrectly. In some rare cases it has happened that a wrong code has come from the suppliers. In this case, the code will be replaced or, if necessary, the payment will be returned.
Statistically, 99.4% of the codes we send work correctly, which makes the error rate only 0.6%. If the customer still has a problem with their order, it is important for us to solve the problem as quickly and efficiently as possible. With this in mind, we have created a customer support ticket system where customers can immediately enter all the necessary information, which speeds up the problem solving process. Since no Consumer Protection and Technical Regulatory Authority complaint has yet reached us, we are currently unable to investigate the circumstances of these specific cases in more detail or comment on them.
The company apologizes to customers who have to wait a little longer than usual for their products and thanks for their understanding. "No order remains unfulfilled, and I assure you that our team is constantly working to ensure that smooth order fulfilment is restored as quickly as possible," commented Hannes Niid, a member of the board of Punktid.
Contacts for additional information
Hannes Niid
Management Board Member of Punktid Technologies AS
E-mail: invest@punktid.com
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