Payza
An e-commerce business allowing payments and money transfers to be made through the Internet. Previously the brand the service was marketed as was AlertPay.
When sending money using Payza a purchase can be funded from an existing Payza balance or using a credit card. When receiving money, all funds received are added to your Payza account balance.
Methods for depositing funds into an Payza account include bank wire, by linking a bank account (e.g., ACH in the U.S.), by money order or certified check and other methods included prepaid card. These options vary based on geographic area.
Methods for withdrawing funds from an Payza account include bank wire, a localized bank transfer method (e.g., ACH transfer to a bank account in the U.s.), check and other methods including prepaid card. These options vary based on geographic area.
Fees
There are no fees when sending money. The fee subtracted when money is received will vary based on the account type.
Risks
Funds received through Payza can potentially be put at risk if the buyer requests a chargeback. Payza's policy is to close the account for any account holders who issue a chargeback.
Payza holds balances that might be at risk. The agreement states:
- If you do hold a balance in your account, Payza will keep your funds separate from its corporate funds and will not use your funds for its operating expenses or any other corporate purposes.[1].
There is no mention if these funds are CDIC (Canadian) insured, FDIC (U.S.) insured, or any other indication of how or where these funds are held.
See Also
External Links
- Payza website
- Transaction Fee Schedule