Initially established in 2018 with headquarters in Cyprus, PayPax is an electronic commerce company and online payment processor that facilitates payments between parties for online transfers via a secure electronic network. But what is PayPax and how does it exactly work? In this article, we will cover all these and give you a full review on PayPax.io functions and features plus everything else you need to know about the system before getting started.
The company originally started working as an online payment gateway and has expanded overtime to add several other financing features such as safe and secure means of transferring money globally, trading and exchanging cryptocurrencies and different forms of e-money as well as sale management features for online retailers and vendors all around the world.
PayPax is an online payment system that makes paying for things online and sending and receiving money safe and secure.
In addition to paying for goods and services using PayPax, you can also use the system to securely send money to friends and family as well as receive money from people no matter where they are located.
PayPax offers payment services and solutions for both personal consumers and businesses. The company allows personal consumers to shop, make payments, and transfer money with relative ease. Users can sign up on the system easily, having merely nothing but a valid email account to sign up for an account. There is no credit card, debit card, or bank account needed to complete the setup.
PayPax verifies all users information to make sure the person setting up the account is the rightful owner before the service can be used. This is in fact done for the safety of the users and in order to prevent cybersecurity attacks and money scams or phishing risks.
The second good reason why you should choose PayPax for your online transactions and money transfers is that the services brought to users by PayPax could never be better defined in terms of convenience and ease of use. All you need to do is set up your own PayPax account having memerly nothing but a valid email address. There are also dedicated PayPax apps for iPhone and Android devices - each having their own biometric security for extra protection.
To put into one word, on PayPax your money is secure, privacy is protected, and, since the customer base is so large, transactions are faster than conventional methods.
There are two types of PayPax accounts, business and personal, which we will briefly discuss in here:
A personal PayPax account is the most common and easiest account for individual use. It’s all you’ll need to send and receive money or to use PayPax to make purchases online. This account also lets you access your purchase and transaction histories and latest deposits or create a new ticket to report your possible issues.
PayPax also offers accounts that allow businesses to accept payments online as well as create their own merchant list and track their merchant sale history even if their customers don’t have PayPax accounts. Service-based businesses and professionals can also bring PayPax online payment gateway to their websites and receive online payments securely.
It’s quite simple to make payments via PayPax if the recipient already has an e-wallet. All you have to do is click on “Send Money” and enter the seller’s PayPax ID or email address. Then enter the amount and click “send.” All transactions can be tracked on your account activity page. Everything you send is protected by advanced encryption with 24/7 fraud monitoring.
Just like making payments with the system, receiving payments via PayPax is super easy. You can either give out the email address your account is associated with, or your PayPax account ID and anyone can send you money regardless of where they are located.
Creating a PayPax account is free. PayPax however, charges fees for certain types of transactions which we’ll discuss below:
The global fees depend on whether your account is verified or not. Both business and personal accounts receive a %0.5 fee in case they own a verified account and %2 in case of an unverified one.
Deposit and withdrawal fees is an amount you are charged with when using the online exchange service to transfer to or withdraw funds from your PayPax account. Unlike the global fees, deposit and withdrawal fees do not depend on the type of account you own or whether it’s verified or not but rather on the type of currency you have decided to deposit to your PayPax account. Each cryptocurrency has its own determined fee depending on the blockchain in which it takes place. The same case is true for different types of e-money except that in that case the fees are determined by the service that it’s owned by. Other than these, PayPax won’t charge you with any extra fees in case of crypto deposits.
Need more info? Visit: PayPax fees
There is a PayPax app for iOS and Android, which can be found on the App Store or through Google Play. Through your PayPax app you can sync your account on your mobile phone as well as Track and monitor every transaction, send money to friends and family, trade cryptocurrencies or any other features you had previously used through your web version account. Using your PayPax app you can easily make payments beyond borders.
Here is a review on the features and benefits of PayPax.io:
User experience is perhaps the most valid and reliable source for knowing any product or system. Trustpilot is a review platform that's open to everyone. Read about what other people think of the system and share your experiences of working with PayPax and feel free to leave us a comment and support PayPax on TrustPilot.