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Speak Asia Online – Genuine, Ponzi or Scam?

In last couple of weeks, there have been atleast 7-8 people who have called me and specifically asked – “Hey Arun, are you aware of Speak Asia?” or “Do you have a subscription of Speak Asia?”. To be honest, I just got to know about Speak Asia less than a month back, and did not think much of it, till the time my friends started calling me!

With so many calls coming in – I got curious, as it is rare for any service or product to provoke such large interest in such a short period of time. My first impression of Speak Asia Online was some kind of Ponzi scheme. Prima Facie, it is not, but does it have some shades of Ponzi in it? Lets find out ! If you are not aware what a Ponzi Scheme is, here is the wikipedia meaning for it:

A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. [source]

What is Speak Asia Service?

Disclaimer: I have not personally used Speak Asia service, so everything I write here is based on my discussion with friends, what is appearing on their website and my general impressions of this kind of services! I am also not passing any judgement on the service nor is it an effort to malign Speak Asia – This is my attempt at putting the facts in front of readers.

Speak Asia Online | Speak Asia Online – Genuine, Ponzi or Scam?

The premise of Speak Asia is really straightforward – It is a survey Form filling company. That means, they have clients who want online surveys to be filled and in turn they provide with people (the people who take Speak Asia Subscription) who will fill these forms. Speak Asia Subscribers earn money when they fill these surveys sent to them.

Looks all well and Good ?

But here is the twist – You need to pay an upfront fee of about Rs. 11,000/- for joining the Speak Asia clan. Once you are a subscriber, you will be sent 8 surveys to be filled in every month, which takes your monthly earnings to 4,000/-. So, just for filling online survey forms you will be paid close to 50,000/- a year. Speak Asia company gives this guarantee.

Additionally, for every member you bring in, you will get Rs. 75 for every form they fill up and unlike other MLM schemes the downlink stops there – You will not get anything for your 2nd downlink.

Speak Asia’s Rise

Speak Asia Online website traffic rise has to be seen to be believed ! It is phenomenal !

Just to give you an idea about it – Here is the Alexa Rank of Speakasiaonline.com website. They have gone on to become the 68th most visited sites in India from nowhere just 6 months back !

This kind of interest is generated only when there is something very un-realistic going on – This is just too good to be true !

Speak Asia ALexa | Speak Asia Online – Genuine, Ponzi or Scam?

If you want to know the figures as to how many visitors speak Asia website have – Here is the Google Ad Planner screenshot for you.

speakasia Google adplanner | Speak Asia Online – Genuine, Ponzi or Scam?

Imagine this – This simple survey form filling company has about 100 million page views monthly and close to 1 million unique visitors !

My Apprehensions about Speak Asia

Although, this is not an MLM scheme – it surely banks uses the same basic principal with an additional incentive of making money filling online forms. Now, here are my questions to Speak Asia subscribers and owners.

  • First and foremost – If you are a simple survey form filling company why take such a large upfront fee ?
  • Is it possible for any company to pay Rs. 500 for a filling up a single survey form which sometimes takes less than 2 minutes to fill up ? One of my friend who approached me told me that he had filled up a Lokpal Bill survey which took about 5 minutes, and other was some Geyser survey which took 30 seconds. And…. Rs. 500 for that…WoW !
  • It is quite clear that Speak Asia is doing the similar things to what happens in MLM – Picking up money from New subscribers and paying the older ones. The question is – What happens when new subscribers stop coming in?
  • The early adopters will no doubt make money and infact, they are instrumental in creating this sudden jump. But what about the hundreds & thousands (or even millions) of them joining  at later stage. From where will the money come to them ?

Speak Asia Complaints

To my surprise – Speak Asia advertised on TV and that too during IPL matches – It seriously is a mad rush right now for picking Speak Asia subscriptions. But with this sudden rise, there equal number of complaints that have already started showing up on forums and Social Media services.

Just search for “Speak Asia” on consumer complaints website and you will find hundreds of complaints in their name already !

speak asia complaints | Speak Asia Online – Genuine, Ponzi or Scam?

My Conclusion

I have my doubts whether this kind of model will sustain for long – What is your opinion ?

So it is clear that this is not going to sustain – It cannot, there is no doubt about that. Infact, many of my friends who have subscribed, agree that it may not be a sustainable model – But, most of them are making money right now – Make hay while the sunshines!

There sure is a question –  What  will happen to millions of people who will join this service at a later stage ? From where will they get paid, if the new subscribers don’t come in ?

Over to you readers – What do you think ? Speak Asia is a Genuine service, A Ponzi Scheme or Outright Scam ?

Update on May 17th

This report appeared on Star TV regarding Speak Asia!

make money from survey forms make money online Speak Asia Online Speak ASia Scam Survey online
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About Arun Prabhudesai

Arun Prabhudesai is founder / chief editor at trak.in. He jumped the Entrepreneurship bandwagon in early 2008 after a long 13 year stint in I.T Industry. You can follow him on twitter @trakin and Facebook. Arun’s Google+ Profile

190 comments

  1. sir main speakasia join karna chata hoon but mujhe batao ki yeh company fraud to nahi hain?

  2. any one received Rs. in thair Bank A/c.

  3. Ankit........The real scholar

    one question is yet there , why the are taking 11k initially ??

  4. Hi guys i have also few questions arise about Speak Asia Online . 1. Why they charge for registration from users if they earn from surveys? 2. Does they Registered in INDIA? 3. Does they Tax payee of INDIA? 4. Look like main objective in member chain then survey? Thanks

  5. i want to know that;What is speak asia

  6. Arun, thank you for your analysis. My partner is extremely keen to get into this and I was looking for diverse opinions. An old friend has invested Rs.44,000 and earned Rs.14,000 in the last month. Let us wait and see how this pans out.

  7. Earn Rs.10, 000 minimum per month doing online survey. No money to invest. An international market research company dedicated to providing their clients with the consumer information. Company having registered office at Singapore .Simply register to become a member & log in to your a/c and earns Rs.300 – 400 daily. The data that is collected through these surveys provides the companies with information on buying trends, consumer preferences and opinions regarding to improvements or new innovations of products and services. Only 10 minutes work every day. Its payment system is simple. Each month members can request cash payments made via check or PayPal (usually in local currency) or you can redeem the earnings for products also. Please click below: **** Free Signup . No joining fees **** Earn 500 per day means 500*30=15000 per month **** Easy payment system **** authorized indian company http://in.ipanelonline.com/register.html?inviter_id=661226 (For Indian citizens only)

  8. IT IS GENUINE COMPANY. HINDI ME AK KAHWAT HAI. “JAB LOMADI KO ANGUR KHANE KO NAHI MILL TO, SABSHE BOLI KI ANGUR KHATTE HAI”. AISH HI NEGATIVE COMMENTS WALO KI SOCH HAI.

    • CA Karan Batra

      Only time will tell kisko angur khatte lage aur kisko Speak Asia ne loota :-p

      • :D yup .aur speak asia ki lanka lag gayi almost…. wat a BIG SCAM !! ,if earning money was that easy. I think media reacted a little too late.

  9. Manish Kataria

    Why the company doesn’t accept the cheque, why only black money. It’s a big question and company has no answer of this question. It is a clear that company does not want to show it’s income to govt. By no means govt knows how much the company is getting from it’s customer and how much tax the company should pay. It’s going to be a big fraud. How can say company has 9 million customer base where one customer has bought more than 100 accounts. There is a big number of such customer. Use common sense before investing!!

    • I think most of the people who are giving their opinions have no idea of Speak Asia. The company has only 19 lakhs (i.e. 1.9 million) panelist and not 9 millions (i.e 1million = 10 Lakhs). The company accepts payment in Cash and by Cheques payable through their Franchisees Bank only, which is accounted for and only once the payment is credit into their Bank only then they release the Epin to create a panelist account. Speak Asia doesn’t issue cheques to is Panelist every month. Speak Asia ask for your Indian Bank account at the time of signing-up and the money is transferred into Indian Bank A/c after deducted Bank charges of 3%-5%. As per Speak Asia, you can have maximum 3 accounts ONLY, but each account should have different profile i.e. no single person can answer all the three accounts, for example one can have 3 three accounts, so one is in my name, one in my wife’s and one in my son’s name and he should be about 18yrs old. But you can just one Bank Account. In other word the Company doesn’t want any duplication of Survey opinions. NOT A SINGLE PERSON IS ALLOWED TO HAVE MORE THAN 100 accounts. Well, if you want to have more accounts then one can take One Main panel and 9 Sub-panels per account, and each Sub-Panel has different sets of questions. If you need further info on the Subpanel you can contact me to explain you through this form. Nobody can have 100 panels, One can have ONLY THREE ACCOUNTs. And all the money is handled by the Banks. No payments in CASH across the Franchisee’s counter. That is the reason in U.P. two franchisees offices were raided by the authorities because these Franchisee didn’t pay their Service Tax (this has nothing to do with Speak Asia), the Franchisee failed pay service tax from their person account. Its because all money transactions are through Banks the concerned Authorities came to know the Income earned by these Franchisee. Speak Asia pays the their Service Tax separately. At one of the recent Press Conference, Mr. Manoj Kumar CEO of SpeakAsia, declared that they have earned Rs 350 crores, and Paid out to it panelist Rs 250 crores, about Rs 50 crores to 60 crores were spend on ADs, Salary for the Managers, PR, Technology etc. If the company is a fraud then why should he declare the earning in front of TV cameras. So please do not pass comments without going through the fact.

  10. Nicely written Arun ….. It feels bad when my friends fall into such network marketing schemes ….. Such things are mstly popular among college students who join such things blindly ……..

  11. Why invest such huge amount, when you can join free and earn bigger amount of money. Earn Rs.10, 000 minimum per month doing online survey. No money to invest. An international market research company dedicated to providing their clients with the consumer information. Company having registered office at Singapore .Simply register to become a member & log in to your a/c and earns Rs.300 – 400 daily. The data that is collected through these surveys provides the companies with information on buying trends, consumer preferences and opinions regarding to improvements or new innovations of products and services. Only 10 minutes work every day. Its payment system is simple. Each month members can request cash payments made via check or PayPal (usually in local currency) or you can redeem the earnings for products also. Please click below: **** Free Signup . No joining fees **** Earn 500 per day means 500*30=15000 per month **** Easy payment system **** authorized indian company http://in.ipanelonline.com/register.html?inviter_id=661226 (For Indian citizens only)

    • do you think making money is so easy , beware somebody is cheating you WAKE UP NOW BEFORE IT BECOMES 2 LATE

    • Hi, I checked on this company and signed up just to check rather than criticizes by saying its fake. This company is a Chinese based company and the surveys are not relevant to us Indian and please keep a safe distance form this site. You can’t have a Domain name “in.ipanelonline.com” this is a sub-domain of http://www.ipanelonline.com By the way I didn’t pay, I just sign-up the free to check it out.

  12. shivam sharma

    any one wanna join speak asia contact 9807006922

  13. make hay while the sun shines. Nice article arun. Joined in nov and made over 1.40 lakhs. So make hay while the sun shines

    • shailesh Agrawal

      You are good unless you invest the same money again for more speakasia accounts which everyone is doing. I know lots of friends who are making profits are creating multiple accounts with their profits. IT IS A BIG SCAM AND WILL ROCK INDIA SOON.

    • Dear sudhakar its nice that you are earning a lot, but the point which is more important that being a scam does not mean that nobody earns the money. But the way which it gives money. And do you know that you earning because thousands and lakhs of people are joining such scheme. You are getting small portion of their investments.

  14. I am sure this is a Ponzi site, one of my members in the family have suffered from a similar scheme wherein we pay 2 lakhs downpayment and we get 20k every month. As ARUN said this is beneficial for the early takers but is troublesome for the ones who enter late. The only thing which makes sense to me is that The companies floating surveys always wanted opinions from diverse sectors and age groups thus instead of hiring people to fill surveys they are doing it online and paying a huge some of 500 Rs.

  15. CA Karan Batra

    If I was the owner of SpeakAsia, I would have never paid Rs. 500 for filing up surveys. Instead, i would have hired 10 employees on Rs. 10000 a month and make them fill the surveys rather than paying Rs. 500 for 5 minutes. And infact every prudent businessman would have done the same. But because SpeakAsia is not doing this, it arouses suspicion that something is seriously wrong.

    • surveys are meant for a large set of people and NOT 10 people. No company would have taken your survey services.

      • Well said A Roy, Surveys are take with larger group to get a real and clear opinion. Its not like hiring 10 employees and doing an outsourcing job. Mr. Batra is ignorant of the Marketing and Survey industry. Any way SpeakAsia has helped people earn a decently.

        • no 1 can actually predict whether speakasia is going to survive or not bt all i knw is tht this company actually helped many ppl to come up and earn some extra cash out of it. AND 1 MORE thing , m nt just saying ths in favor of speakasia bt most of the ppl commenting about speakasia r nt even aware bout the MLM concept, there is huge difference between mlm concept and pyrammid scheme. speakasia is nt just running with any pyramid scheme nor its buisness depend on any money rotation concept instead its a wel planned buisness model which cud actually benefit many ppl in future. i hate these kind of marketing scheme but somehw this speakasia thing has really done wel. …….

  16. Lets suppose there are only a million people filling survey forms (@8 surveys per month) and earning fat money. That means 100 million surveys per year. I wonder if there are 100 million companies deciding to conduct survey and all of them coming to Speakasia for outsourcing. All I can say is who ever is running it have choosen a very tangy name which instantly clicks with ppl. Wish they could have used it for some greater cause.

  17. Join SpeakAsia in Heavy Discounts + Website Support. We will also give you benefit on every joining you make. A very professional way of working. Your name on our website too ! Come feel the difference. Contact : +91-9889726900 (North Region) Or fill the form on our Website. Website : http://www.teamelite.in We Help You Rise !! Our Commitment http://www.facebook.com/pages/Team-Elite/200765456604672

  18. On the light Note: A Joke about SA… I got from somewhere Hey, Let’s Take a small Break here and Think about SPEAKASIA GOD… SA GOD have given us following: 1. Great $ Income. Easy Income. I love it. :) 2. No Hard work: Just click-click 3. Pollution free world: No need to travel for work 4. Social Equality: No Worker, No Manager …. All SpeakAsian. All Making money. 5. Great Products: At Discount. Imagine 70% Discount. 6. Right to Give Opinion: on any thing and every thing. Even If I do not know ABCD of product I can Give HONEST opinion. 7. Right to conduct seminars: Show People Dreams that they CAN earn Money. 8. Freedom form Tag that India is Poor Country. Now India will also be a rich country. I will write a Chalisa For Speakasia. And will sing it every day (Gulsan Kumar is not there otherwise T-series) May have done it already.

  19. ppl r making money no doubts.. even few of my friends have made handsome $$$$ ..

  20. Here one more site containing great insight about this Fraud. http://www.india-forums.com/forum_posts.asp?TID=1671122

  21. Wow…very well written analysis… so do you really know somebody who has made an actual profit and has received the cash too?

    • Arun Prabhudesai

      Pooja, Yes, infact one of my friends supposedly made some 61K rupees in 1 month – Other friend’s friend has made some lakh and half rupees in 3 months…So, yes there are examples where people have made money from it… But thats the point of my post….Early adopters will definitely make money…it is the ones who join the bandwagon later may not be as successful !

  22. Nishant Gupta

    Yes, its end is same as every MLM company has…. Refer to these points to mentioned here in some blog post i read last month http://hotpotblogs.com/speak-asia-%E2%80%93-an-online-scam-that-could-affect-a-million-people-in-india/

  23. chk this detailed article Speak Asia Online : Genuine or Scam (Fraud)? http://bit.ly/ludUMG Sometimes back LABNOL too had published an article about SPEAKASIA titled “Speak Asia Online is a Scam !” which was removed from the site.. http://www.labnol.org/india/speak-asia-online-scam/18845

    • we Speak Asians always receive rewards for our valuable opinions by speak asia regularly. there is no question of fraud Star TV is going to become a business rival of Speak Asia so this channel is using such a cheap methods to destroy the popularity of Speak Asia . because star Tv is also going to start the survey company STar panel. it will pay only Maximum 3us Dollars (150 RS) for doing one survey (depends of Length of survey )you can do 6 surveys in a month. t means it will take crores of Rs for Survey and give us payment in Coins ( Chillar ) for doing the survey. these multinationals are here for looting the indian people. like our leaders the work of leaders is to provide the employment to the people but they are doing nothing just enjoying. speak asia is doing good for society and giving rewards to the people for doing its survey. So I request you to save our company Company is just giving the rewards i shape of money to the people

  24. arun caashyap

    check out comscore stats as well…http://twitpic.com/4vu45t

  25. all buzzy news

    i think its a scam. i dont think anybody will give this much money…

    • Arun Prabhudesai

      Yeah,… but Millions of people dont know that…They subscribe and then come to know that all is not so rosy…and by that time they have already lost hell lot of money!

      • Hi Arun, Its a clear scam but why you are so mild in your tone. Read this http://www.tflindia.in/2011/05/speak-asia-online.html He struck in the head.

      • very well written sir, even most of my friends are making money from it, they know it will not stay for a long, i am not a penalist of it , but question is : recently media(only starnews) cover the story and declared that this can commit future fraud, but the question arises why don’t other broadcasting media is not coming up,?.. where is sebi ? where is cbi ? will they come at that time when this company flew away to singapore. and what latest is starnews also launched similar scheme as speakasia as star panel ) is it right?? whole story is at

        • Fraud is word used when someone dumped after fair commitment. As on date SOAL has been delivering whatever promised. Channel people are trying to fantesize the inside processes. Are they showing why are more popular against DD news & other govt run channels – Good sponsor base, Tall collections from clients who inturn collects from consumer’s pocket. Has any questioned why their reporters paid many times as against govt channels.Regarding registration in India – whether Google is registered in India? Online operation houses cut down the estblishment costs of office maintenance & govt taxes and bribes.SOAL is an revolution in intechnology advantage. Thinks of typewriters vs computers, mail transfer speed by internet, mobile revolution vs landlines telephones. Believe in yourself & domain. We will lay a new pat

        • suppose i am have survey company and people are giving their views same as in speak asia. I have same terms and conditions. I have kept 11000 RS fees for joining the company and I am Giving Rs 4000/ per month for survey to the panelists. I am reducing the unemployment in the country which is the duty of the government. and Speak Asia is not collecting the money forcefully from the peple it is the condition of the company as many companies have? Suppose you have to open a trading account then you have to pay some fees to open it same as speak asia is charging to register and for E bulletin. it means all the companies are fraud according to u who charge fees the not only Speak Asia but all the companies which charge fees should be closed in india

      • we Speak Asians always receive rewards for our valuable opinions by speak asia regularly. there is no question of fraud Star TV is going to become a business rival of Speak Asia so this channel is using such a cheap methods to destroy the popularity of Speak Asia . because star Tv is also going to start the survey company STar panel. it will pay only Maximum 3us Dollars (150 RS) for doing one survey (depends of Length of survey )you can do 6 surveys in a month. t means it will take crores of Rs for Survey and give us payment in Coins ( Chillar ) for doing the survey. these multinationals are here for looting the indian people. like our leaders the work of leaders is to provide the employment to the people but they are doing nothing just enjoying. speak asia is doing good for society and giving rewards to the people for doing its survey. So I request you to save our company Company is just giving the rewards i shape of money to the people Thanking you,

    • PROUD to be a SPEAKASIAN !

    • SPEAK ASIA WILL COMING BACK WITH FLYING COLORS — MEANWHILE U PEOPLES CUD REGISTER FREE AND START EARNING RIGHT NOW , CLICK THE BELOW LINKS AND REGISTER FREE. HI , SENDING A LINK REGISTER FOR FREE. click the below links and register free and start earning. these all are different companies .. 1) http://www.AutoXTen.com/sun1 2) http://www.onlinejobsopen.com/?id=590192 3 http://in.ipanelonline.com/register.html?inviter_id=704928

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