What is Payza
The Payza platform allows for online payments to be processed and funds to be transferred via the internet between users who have registered for the service (Payza members). For personal users, it is a method for transferring money internationally and a platform for the purchase of goods and services online. For merchants, Payza is an online business management tool which they can use to process payments, issue invoices and make payouts.
Payza is a money transmitter agent with offices in London, New York City, Montreal, Mumbai, Dhaka, Moscow, and Stockholm.
Payza's suite of ecommerce payment solutions are available in the form of Saas, or Software as a Service. This enables corporations or entities already licensed in their operational jurisdictions the rights to use Payza.com as their online payment transaction provider, customizable to both customer needs and local requirements.
Payza supports sending and receiving payments in 190+ countries in 20+ currencies. Individual customers can open an account with Payza through registering their email address and personal data on the company's website. Completing an optional identity verification process allows the sending/receiving of higher-value payments, though it is obligatory for all transactions in some parts of the world. Accounts are identified by email address(es) associated with them; payments made from a Payza account are like "sending" money to an email address.
For businesses, Payza provides several business management tools such as checkout buttons, shopping carts, support for invoicing and payouts, and tools for developers to integrate Payza with their websites.
General services
Remittances to/from 190+ countries
Electronic invoicing
Credit card payment processing
Prepaid cards
Currency exchange
Business management tools
APIs and other developer tools
Fees
There are no fees when sending money. Fees are applied when money is received or payments processed, and will vary based on the account type.
Security
All Payza data is encoded with 128-bit SSL encryption. Payza reviews all websites of merchant accounts to ensure that they conform to Payza’s terms and conditions before they are allowed to accept payments.
Payza employs a proprietary monitoring system called the Fraud Matrix, which scans every transaction through Payza and flags any suspicious activity.
In August 2012, Payza partnered with Intelligent ID to enhance their identity verification for users in the United Kingdom.
In October 2012, Payza upgraded their SSL encryption using Trustwave, a Certification Authority and distributor of SSL certificates.
In October 2012, Payza announced the incorporation of the TRUSTe Privacy Seal Program, which confirms the security of their website, with the goal of strengthening customer confidence in their platform.
In December 2013, Payza rolled out a new account design, which included the addition of Advanced Security Setup. This feature reduces the threat of phishing by displaying a customizable avatar and welcome message to the customer during the login process, as well as several question-and-answer pairings designed to ensure that only authorized account holders have access.
Awards
Paybefore Awards, Outstanding Newcomer in Prepaid/Emerging Payments (2013).
Executive Vice-President Firoz Patel was nominated for the Ernst & Young Entrepreneur of the Year Award in 2010 and 2011 for AlertPay. In 2012, he was nominated and advanced to the Finals because of the instrumental role he played in the successful acquisition of AlertPay assets by MH Pillars, which subsequently launched Payza.com.
