Hi friends, the second article for today, yet again concerns another e-currency widely used by the ‘ High risk High return online money making’ industry‘. Payza, formerly AlertPay [If the User agreement update published in the Payza blog is to be interpreted and implemented, correctly] it seems, will not support the High Yield and High Yield strata of the online money making industry that includes the HYIPs, Cyclers, Matrix Programs, Doublers etc.
In the latest update, published in the Payza Blog, the concerned officials have informed of some updates in the User Agreement Section 6.02. If the updates are to be implemented correctly, I personally feel there is a definite sign, that Payza is moving away from HYIPs and all ‘High return’ money making programs.
The Payza Blog Update :
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!
Source : Payza Blog
This update from Payza, understandably has created a huge buzz among the investors and administrators as well. But, being an user of Payza and formerly AlertPay, I believe anyone who has been using this e-currency for some duration, probably feel that this was to happen some day. Almost a year back, i discussed about this possibility.
One of my friend has forwarded me a newsletter from one HYIP, that has supposedly received a letter from Payza, informing that from now on Payza will not be supporting the High Yield industry. Accoriding to this mail – Payza is referring an e-currency called EgoPay for the HYIP industry. [Note - friends , please note this newsletter is unconfirmed]
You can read the excerpt of the forwarded mail :
Thank you for your reply.
Both correspondence were sent by Payza.
Unfortunately, we are no longer able to support your industry.
Please accept our apologies for the confusion.
Kind Regards,Merchant Risk Analyst
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