It’s time to make some light about the recent news concerning Payza’s projects and new policies. This appeared 5 days ago on their blog :
Since the launch of the Payza platform, the Payza Board of Directors has been evaluating all existing and developing market and regulatory conditions in relation to the company’s performance strategy. Because the mission of Payza is to provide the best customer experience in the global online payment processing industry, the Board has identified important emerging business sectors that will foster new payment routes for all of our customers and has mandated the continued development of Payza’s authorized exchangers list. Additional resources have also been allocated to improving customer satisfaction and the processes necessary to resolving outstanding client issues.
As a result of this evaluation, certain sectors currently experiencing increasingly strict regulatory conditions have been recategorized. In order to provide all Payza members with the most secure and stable platform, an amendment to Section 6.02 of the User Agreement has been effectuated:
Section 6.02 – Activities Not Allowed
Any indication or demonstration of a literal rate of return on a contribution, payment or investment, while not being licensed to sell or solicit.
Selling of Unregistered/Unlicensed Stocks, bonds, securities, options, futures, or investments in any entity or property, including (but not limited to) corporations and partnerships or sole proprietorship, are prohibited:
Solicitation, marketing campaign, direct selling or any other comparative effort will be considered a violation of the User Agreement. If you are registered or licensed to take such action, you may be requested to present documentation demonstrating authority to do so from a Securities Exchange Commission, Commodities Futures Trading Commission or other equal and comparative agency.
Payza is committed to providing all of its members, individuals and businesses alike, with the most secure and convenient platform with which to transact online. The Board of Directors is continually exploring new services and options for the company and its customers, and has as a dedicated mandate the implementation and optimization of the best of these new opportunities. Please stay tuned for the latest in our business offerings!
Basically they don’t want to deal anymore with hyips, causing many problems to them and members, since after the incorporation of Alertpay into Payza many hyips accepted it as payment processors.
And essentially Payza said to their former customers ( hyips ) to switch to EgoPay.
The question is clearly why Payza is acting this way.. What are they trying to achieve and gain from this move ?
Former Alertpay had some legal issues due to suspect of money laundering and illegal activities. And this is surely of of the main reasons that led them to merge into Payza, that had a much more respectable name.
One problem though is that US laws are always a bollocks shake with everything related with hyips ( sorry for my oxfordian language lol..).
That’s why EgoPay has been created, to be able to earn money from hyips without directly involving the honourable name of Payza.
EgoPay will try to be the “hyips arm” of Payza, although Payza will never openly admit to be the Big Brother behind EgoPay.
EgoPay is registered in Belize, so an offshore location far from the annoying Uncle Sam laws. Hopefully..
So EgoPay will be another Liberty Reserve or Perfect Money, but with higher costs involved, absolutely unsustainable for little players ( $ 0.25 for every transaction, is this a joke ? ), and actually, although they just got started, I don’t se that great enthusiasm around about EgoPay..
Maybe that many admins will still offer EgoPay as funding option, since they can then move the funds to Payza and to their bank accounts remaining anonymous. Easy. But I would strongly advice any player NOT to use it. Why on earth shoudl you use a much expensive anonymous rather than a classic Liberty Reserve, given that you cannot open disputes anymore ?
The market will tell soon how this situation will evolve, just wait and stay tuned.