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Author Topic: Payza, Bitcoin, and Unauthorized Exchangers  (Read 1342 times)
Payza
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April 13, 2015, 03:08:04 PM
Last edit: April 15, 2015, 01:27:40 PM by Payza
 #1

Hello, we've noticed that people are using this forum board (edit: this post was moved to Service Discussion from Currency Exchange) to advertise exchanger services, that is buying or selling Bitcoin for Payza funds without authorization from Payza to provide these services. There are a couple things we wanted to point out here.

First of all, using an exchanger that has not been authorized by Payza goes against our User Agreement, that means that Payza can limit or close your account for taking part in these kinds of transactions (note: normally the person soliciting services will have their accounts closed, however the User Agreement specifies that there could be consequences for taking part in either side of the transaction). More importantly, an unauthorized exchangers claims to provide services that we have not had a chance to review, this means that we cannot guarantee these exchangers will provide the promised service.

Second, Payza already offers a way to Buy and Sell Bitcoin directly within your Payza account. You can read about it on our blog.

Buy Bitcoin: https://blog.payza.com/payza-updates/why-use-payza-announcements/buy-bitcoin-with-payza/

Sell Bitcoin: https://blog.payza.com/payza-updates/announcements/bitcoin-deposits-payza/
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April 14, 2015, 12:14:15 AM
 #2

Thank you for the info, didn't know that Payza supported buying and selling of bitcoin.
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April 14, 2015, 01:01:36 AM
 #3

Hello, we've noticed that people are using this forum board to advertise exchanger services, that is buying or selling Bitcoin for Payza funds without authorization from Payza to provide these services. There are a couple things we wanted to point out here.

First of all, using an exchanger that has not been authorized by Payza goes against our User Agreement, that means that Payza can limit or close your account for taking part in these kinds of transactions (note: normally the person soliciting services will have their accounts closed, however the User Agreement specifies that there could be consequences for taking part in either side of the transaction). More importantly, an unauthorized exchangers claims to provide services that we have not had a chance to review, this means that we cannot guarantee these exchangers will provide the promised service.

Second, Payza already offers a way to Buy and Sell Bitcoin directly within your Payza account. You can read about it on our blog.

Buy Bitcoin: https://blog.payza.com/payza-updates/why-use-payza-announcements/buy-bitcoin-with-payza/

Sell Bitcoin: https://blog.payza.com/payza-updates/announcements/bitcoin-deposits-payza/

Nice, Glad that some payment processors are accepting BTC now Smiley

I hope paypal will also do the same in the future.
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April 14, 2015, 01:41:59 AM
 #4

Well, its really sad to hear that we can't trade with users our payza->bitcoin and vice versa; Btw a week has passed and my account is still not verified after supplying all the required documents.
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April 14, 2015, 11:17:00 AM
 #5

very good hope the same with fuckin paypal.
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April 14, 2015, 12:03:39 PM
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It's cool that they actually came to post this here personally.

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April 14, 2015, 01:44:06 PM
 #7

Well, its really sad to hear that we can't trade with users our payza->bitcoin and vice versa; Btw a week has passed and my account is still not verified after supplying all the required documents.

Unfortunately due to the risk involved and the number of complaints we receive regarding unauthorized exchangers these restrictions were something we felt was necessary to help protect our members as much as possible.

Besides being able to use Payza to buy and sell Bitcoin, we also have a number of authorized exchangers (varies by country) that you can use as well to get more out of Payza. The list of authorized exchangers can be found here: https://www.payza.com/exchangers

As for verification, it can take up to 5 business days for our team to review verification documents, but I believe the Easter holidays caused a bit of a backlog that may be delaying verification reviews slightly. You should have a response soon.
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April 14, 2015, 04:42:06 PM
 #8

After reading this thread and all associated links, I noticed that Payza currently does not allow certain countries to buy or sell Bitcoin and cannot offer Bitcoin services everywhere due to differences in the Bitcoin laws between countries they serve.

This is the reason people are still creating "unauthorized" payza/bitcoin transactions. It may be wrong for them to do so but there is nothing in place to facilitate their needs otherwise  unless they accept high fees.
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April 14, 2015, 05:02:33 PM
 #9

After reading this thread and all associated links, I noticed that Payza currently does not allow certain countries to buy or sell Bitcoin and cannot offer Bitcoin services everywhere due to differences in the Bitcoin laws between countries they serve.

This is the reason people are still creating "unauthorized" payza/bitcoin transactions. It may be wrong for them to do so but there is nothing in place to facilitate their needs otherwise  unless they accept high fees.

We understand that, but you must understand as well that we must do our best to ensure that our members are not using our services in a way that goes against the laws of their country. If we cannot provide Bitcoin services to a particular country there is a reason for it. We are monitoring updates to the laws and regulations of all countries in regards to Bitcoin and will be updating our services to stay in line with those laws.

If Payza's Bitcoin services are unaivalable in your country for whatever reason, that does not change Payza's policy on unauthorized exchanges.
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April 14, 2015, 05:14:53 PM
 #10

I have a verified Payza account and it has a 2% fee if I withdraw via bitcoins and plus it is mentioned that it may take 1-3 business days. If I withdraw today and get paid after 3 business days, will I get the bitcoins at today's rate or the rate on that day when I receive the bitcoins?

Also, I used to use PZ and never was charged any fee as I had a verified account. Now they charge fee. What verification is required to not be charged any PZ fee?

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April 14, 2015, 05:34:41 PM
 #11

I have a verified Payza account and it has a 2% fee if I withdraw via bitcoins and plus it is mentioned that it may take 1-3 business days. If I withdraw today and get paid after 3 business days, will I get the bitcoins at today's rate or the rate on that day when I receive the bitcoins?

Also, I used to use PZ and never was charged any fee as I had a verified account. Now they charge fee. What verification is required to not be charged any PZ fee?

Your Bitcoin rate is locked in at the time of purchase, you will get the amount indicated at the time of your withdrawal.

I'm not sure how to answer your second question, Payza has always had some fees for certain services, this doesn't really have anything to do with whether or not you are verified.
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April 14, 2015, 06:37:42 PM
 #12

I'm very Happy to see your co-operation with community
may be that would give you Much better Reputation

just a question, possibly its anser would be yes, being a Verified Exchanger will guarantee my funds against reversals and fraud funds ?
if yes, please explain to me how long you take to review each client payment before i complete the exchange to him ?

Dr-Exchanger Shop :
https://bitcointalk.org/index.php?topic=308889.0

My BTC Wallet Address : 13rYGYYY82KLByaKGvUrGuqXWU5QDsc5zh

My LocalBitcoins Profile Link : https://localbitcoins.com/accounts/profile/Dr-Exchanger/

My FaceBook Profile : https://www.facebook.com/Dr.Exchanger
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April 14, 2015, 08:11:48 PM
 #13

I'm very Happy to see your co-operation with community
may be that would give you Much better Reputation

just a question, possibly its anser would be yes, being a Verified Exchanger will guarantee my funds against reversals and fraud funds ?
if yes, please explain to me how long you take to review each client payment before i complete the exchange to him ?


Authorized Exchangers have been reviewed by Payza and while we cannot guarantee that your funds will be protected when you use their services, we have done our due diligence and are satisfied that they are trustworthy. We also continually monitor these exchangers to ensure that they are maintaining the standard of service expected from our Authorized Exchangers.

If you would like more information on how to become an Authorized Exchanger, you can contact our team at bizdev[at]payza[dot]com and a Business Development Manager will be happy to help answer your questions.
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April 15, 2015, 06:41:58 AM
 #14

all thing you said is just that payza is not a payment anymore, it's an echange now. anything what people doing with payza, as a payment tool, must be approved by you.
okay, it's time to leave payza.
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April 15, 2015, 08:40:48 AM
 #15

In my opinion you should let payza users do what they want with their funds since they passed your verification.
Its like i have 1000 USD , i want to buy a car, but you wont let me.
Payza users/exchangers know what's the risk dealing with Bitcoin.
It would be a lot better, if you will say, we cannot refund trades involving bitcoin; thats a total different story.
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April 15, 2015, 08:43:19 AM
 #16

what about prepaid card withdrawal issue, is that problem resolved and we can withdraw our funds through Payza Prepaid Card?
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April 15, 2015, 02:07:15 PM
 #17

all thing you said is just that payza is not a payment anymore, it's an echange now. anything what people doing with payza, as a payment tool, must be approved by you.
okay, it's time to leave payza.

Payza is not an exchange. Payza is an online payment processor and money services business, we allow members to easily send and receive money all over the world, to accept online payments for their businesses, and to shop securely online. The ability to buy and sell Bitcoin is just one of many services that Payza offers.

In my opinion you should let payza users do what they want with their funds since they passed your verification.
Its like i have 1000 USD , i want to buy a car, but you wont let me.
Payza users/exchangers know what's the risk dealing with Bitcoin.
It would be a lot better, if you will say, we cannot refund trades involving bitcoin; thats a total different story.

We do not allow unauthorized exchanges for several reasons, one of which is to comply with international regulatory authorities.

Payza not only directly provides the service you are looking for, we also have several Authorized Exchangers that can also perform these services for you.

what about prepaid card withdrawal issue, is that problem resolved and we can withdraw our funds through Payza Prepaid Card?

We are working with our service provider to get this issue fixed but it has taken longer than expected. Our team is also working on alternate solutions including possibly launching a new prepaid card program.
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April 15, 2015, 02:33:26 PM
 #18


I'm not sure how to answer your second question, Payza has always had some fees for certain services, this doesn't really have anything to do with whether or not you are verified.

Payza used to not charge any receiving fee until mid 2014 when the terms were changed. I had a Starter account which was verified I guess and hence I wasn't charged fee earlier in 2012-13.

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Payza
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April 15, 2015, 02:39:14 PM
 #19

Payza used to not charge any receiving fee until mid 2014 when the terms were changed. I had a Starter account which was verified I guess and hence I wasn't charged fee earlier in 2012-13.

Ok, Payza Starter Accounts did not have fees for receiving funds from other members, but there were still fees for depositing, withdrawing, and exchanging currency. Starter Accounts also had strict limits on how much money could be transferred before you were required to upgrade.

Payza has since discontinued Starter Accounts.
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April 18, 2015, 01:48:56 PM
 #20

Can I ask as to when will Payza support withdrawals to Indian bank accounts? There was an option before which supported Indian ban withdrawal with a fee of INR 250 or less but now the only option is Bank Wire which has a huge fee of $25. Why is this option disabled for Indians?

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