Payza App Update Incorporates Bitcoin Services and More!

Payza App Update

The Payza developers have once again improved the Payza experience for our members – our Payza app just got even better! If you already have the Payza app, make sure you download the latest update to take advantage of the new features.

Take Payza with you wherever you go with the Payza app. You get all of Payza’s features in the palm of your hand and the app lets you stay on top of your Payza account: send money, add or withdraw funds, and review your account’s transaction history.

We have now improved the Payza app with a couple of new features, with a focus on facilitating Bitcoin usage and enhancing the user interface. These new features make what is available on the Payza desktop also available on the app. This in turn makes the user experience of the app easier, faster and more convenient for our Payza members.

The Payza App’s New Features at a Glance

  • You can now Add Funds by Bitcoin into your USD balance directly in the app.
  • From the main menu, you can now go directly to the new “Add/Withdraw Funds” page to see the funding methods to add or withdraw funds available specifically for you.

Add Funds by Bitcoin

The latest Payza App updates gives you an easy way to exchange Bitcoin from outside Bitcoin Wallets into fiat currency in your Payza account. With this update, when you Add Funds by Bitcoin in the app, they will automatically be converted into US Dollars. Future updates will also give you the option to keep those funds in your Payza Bitcoin balance.

Here’s how the new feature works:

  1. In your Payza app, click “Add/Withdraw Funds” in the menu in the upper left-hand corner, then select “Add Funds by Bitcoin”.
  2. For the destination balance only US Dollars is currently available.
  3. Enter the deposit amount (in Bitcoin).
  4. Review the details and confirm your transaction by typing your Transaction PIN.
  5. Payza will provide you with a unique Bitcoin address for you to send your bitcoins and a set of instructions for completing your transaction.

Note that your account must be verified in order to do conversions from Bitcoin.

This gallery shows you exactly how the process works:

 

This slideshow requires JavaScript.

If you want to add Bitcoin to your Bitcoin balance, you will still need to use the Payza desktop site for now. Our developers are hard at work on the next Payza app update and expect to have this new release ready before the end of the year.

User Interface Enhancement

By adding the “Add/Withdraw Funds” options directly in the app menu we have created an easier way for Payza members to find the deposit and withdrawal options they have for their account through an easy access menu.

Simply select “Add/Withdraw Funds” in the menu in the upper left-hand corner of the app. The funding methods available specifically for you will appear. Depending on your account, you will have the option to add funds by Credit Card, Bitcoin and/or the Payza Card, and to withdraw funds to your Payza Card. If you do not have a Payza Card, there is currently no other withdrawal option available through the Payza app, but our developers are working to add other withdrawal options as well.

We are always working on updates for the Payza app, so stay tuned for more exciting features to be available in the future!

The Payza mobile app is free and is available for Apple iOS and for Android. Download it from iTunes or Google Play for use on your iPhone, iPad, or Android devices.

Use Prepaid Cards to Simplify Your Payroll

Prepaid Card for Payroll

Slowly but surely, digital payment technologies have transformed how businesses are run. The digital economy has brought countless innovative improvements to organizations of all sizes, from devices such as Square that turn your smart device into a card processor and make it easier to sell your products, to cloud-based technologies that render your office space obsolete in favor of distributed teams.

Despite this trend, there are areas where companies still typically opt for the old “business-as-usual” way of doing things. One of these areas is Payroll.

While electronic payments in the form of direct deposits are now the norm, the few business owners out there who have taken the time to consider the alternatives have found a better option. Payroll cards are reloadable prepaid cards onto which an employer loads a worker’s earnings at the end of each pay cycle, which can then be used anywhere credit cards are accepted, including ATMs and cash-back transactions.

Both direct deposits and prepaid cards offer some clear advantages when compared to old fashioned paper checks. They are both faster than checks, providing your employees with instant access to their funds and simplifying the bookkeeping on your end by delivering all your payments at the same time. Electronic payments are also more secure than checks, which can be easily lost of tampered with, which can cost your company in the form of canceled check fees and penalties.

But payroll cards offer some additional advantages over direct deposits which can have significant short and long-term effects on the success of your business.

Advantages of Payroll Cards vs. Direct Deposits

  • Lower Cost

The prepaid card industry has come a long way and now payroll cards are the preferred alternative to direct deposits, beating out paper checks in 2015. Before then, prepaid cards were often associated with high fees, but today the costs of prepaid cards have come down dramatically to compete with traditional bank cards. Payroll cards can now save both employers and employees a great deal of cost.

  • Higher Morale

Not only do payroll cards have lower usage fees and more transparency than traditional bank cards, but they also offer a great deal of usability, earning an A-rating for core features in the 2017 Payroll Industry Scorecard from CFSI. They have the same functionality as credit cards, but they help employees stay out of debt by being preloaded and lacking an overdraft limit. On top of that, they are often linked to superior online and mobile banking platforms. For all these reasons, payroll can help increase employee satisfaction in a cashless and debt-averse world.

  • Larger Potential Workforce

In addition to the advantages payroll cards pose for employees who have a bank account, this form of payment can be a life-changer for the unbanked. Workers without bank accounts are forced to pay fees to get their checks cashed, so offering payroll cards can make you a more attractive employer to a wider segment of the global workforce.

Payroll cards can open the door to hiring remote workers from all around the world. It can be challenging and expensive to navigate direct deposits across national borders and integrate with local banks in multiple countries – payroll cards allow you to skip the hassle and pay anyone, anywhere.

  • Less Payroll Workload

Whether or not you’re employing a distributed international workforce, prepaid cards can save your company a great deal of cost and labor in the payroll department. Since you are issuing the cards to your employees and reloading them at the end of each work cycle, payroll cards eliminate the need to collect personal banking information from each employee, the need to keep that information safely stored and updated, and the need to fix potential problems with delivering payments. Instead, you retain control of the entire payroll process in-house and on a single payment system.

You can begin to improve the outlook of your business immediately by using prepaid cards to consolidate payments, whether to employees, contractors or affiliates, locally or abroad. With the power to simplify the workload for your business, improve morale for your employees, and keep costs down for both parties, payroll cards are the superior (and often-overlooked) alternative for modern businesses.


A Payza Business account makes it easy to complete your payouts with just one click and keep track of your payments with Payza’s detailed Transaction History. Just upload your payroll spreadsheet and send money instantly to anything from a few people up to a few hundred! For more information, be sure to subscribe to our blog.

From Cryptocurrency to Cash: Exchanging Is Easier Than You Think

Crypto to cash payza

Going from cryptocurrencies, especially altcoins, to cash can be difficult. So we’ve compared the best solutions on the market for exchanging Bitcoin and altcoins to make your life a little easier.

Over the past week, Bitcoin and altcoin values have dropped dramatically. A month ago, the price of Bitcoin climbed above $3,000 USD for the first time, but on Sunday it dropped as low as $1,863.22 and remains below June’s lowest value at the time of writing. Ethereum, which reached nearly $400 in June, is now trading at half that value. And just about all other cryptocurrencies experienced a similar decline.

A cursory glance at the news coverage reveals a number of possible causes for this drop – which has seen the total cryptocurrency market capitalization decrease from a mid-June high of $115 billion to as little at $61 billion at its lowest point (so far) – but the most likely culprit is the imminence of SegWit, scheduled for August 1st.

Don’t know what SegWit is? Click here for our take on SegWit and the Future of Bitcoin.

In light of the past week (which some are preemptively calling a crash) we’ve decided to take a look at the best solutions available for cryptocurrency exchanges, and which services you can use to send Bitcoin to your Payza e-wallet or to acquire altcoins that you can later sell to Payza.

Update: Payza now lets you buy and sell Bitcoin and altcoins, right in your Payza account!

Since there are so many to choose from – hundreds of different exchanges which might seem indistinguishable to the casual Bitcoin user – we’ve collected the results from 10 different recent Best-Of lists from leading crypto publications, including Bitcoinist, The Merkle and 99 Bitcoins, to create the ultimate Top 5 list:

  1. Gemini

Unlike most others on this list, Gemini is a fully regulated exchange licensed in the US, meaning that they’re held to a similar set of rules and standards as a bank. Gemini sports a great, minimalist user interface but you can only trade in Bitcoin, Ether and USD and the service is only available in 42 states, Canada, the UK, Hong Kong, Japan, Singapore and South Korea.

PROS: Highly secure, user-friendly design, great analytics tools, no deposit or withdrawal fees.

CONS: Limited to USD, BTC and ETH, available in only a handful of locations.

  1. CEX.IO

Founded in London, England in 2013, CEX.IO trades in most major cryptocurrencies and support USD, EUR, GBP and RUB fiat currencies. The platform is intuitive and user-friendly but also powerful enough for professional traders, and has a good reputation for security.

PROS: Accepts credit cards, mobile-friendly, worldwide availability.

CONS: Long verification process, high deposit fees, limited customer support.

  1. Bitstamp

Making it onto over half of our lists, Bitstamp is the oldest exchange standing, having launched back in 2011. Both EUR and USD are accepted and multiple deposit methods (including credit card) are supported. As the third-largest Bitcoin exchange by volume, Bitstamp is a very reliable option.

PROS: Well-known for reliability, accepts credit cards, fee structure makes it a good choice for large transactions.

CONS: Poor user interface not recommended for beginners, can only trade Bitcoin for fiat currencies.

  1. Coinbase

Founded in 2012, Coinbase is a customer-centric exchange, meaning it’s an excellent place for people new to cryptocurrency. It’s one of the most popular solutions around because of its low transaction fees and ease-of-use, but Coinbase only supports a limited amount of features, currencies and countries.

PROS: User friendly, low fees, stored currency is insured, a variety of deposit and withdrawal methods supported.

CONS: Limited availability, only supports Bitcoin, Ether and Litecoin.

  1. Kraken

Almost as old as Bitstamp, Kraken was founded in 2011 as a Bitcoin exchange, and only recently expanded into altcoins. Unlike most on this list which require you to exchange fiat currencies to and from Bitcoin before trading in other altcoins, Kraken allows Ether, Ripple, ZCash, Monero and several others to be traded for fiat currency.

PROS: Reliable, supports a variety of trading pairs between cryptos and EUR or USD, low withdrawal fees.

CONS: High deposit fees, not the most intuitive design (recommended for experienced traders).

There is no shortage of Bitcoin and altcoin exchanges and opinion is very divided on which ones are superior. No exchanges appeared on more than 8 of the 10 “top exchanges” lists we consulted, so some reviewers found reasons to leave exchanges like Kraken and Coinbase off some lists.

Be careful if you decide to choose an exchange not on this list. Many other popular exchanges, such as Poloniex and Bittrex, do not support any fiat currencies and can only be used to exchange between different cryptos, meaning you won’t be able to sell your coins for cash.

Payza Unveils a Better Solution

If you’re frustrated by the lack of solutions on the market to turn Bitcoin and altcoins into cash, Payza has a great new option for you. With a Payza account, it’s easy to go from fiat to cryptocurrency or to sell your cryptocurrencies when it’s time to cash out. Payza supports Bitcoin exchanges and dozens of other altcoins!

PROS: Instant exchanges, dozens of cryptocurrencies and over 190 countries supported.

CONS: Identity verification is required to use Payza’s cryptocurrency services.

The Payza Card: A Complete How-to Guide

Payza Card how to

IMPORTANT UPDATE – JANUARY 11, 2018: We are aware of issues affecting the Payza Card. Please note that if you currently have a Payza Card, some features are no longer fully functional. We have stopped taking new Payza Card orders at this time. Payza Cards that have been recently ordered and have not yet been shipped will be canceled and refunded. We apologize for the inconvenience. More information will follow as it becomes available.

The Payza Card is one of our most popular products. It gives our members in over 190 countries a simple way to access the money in their Payza accounts and use those funds to shop online or in-person. The Payza Card can also be used at most ATMs, putting cash right in your hand.

Our customer support team gets asked more questions about the Payza Card than about any other feature. To help answer these questions we recently put together this handy guide to using your Payza Card. You can also visit the Payza Card section of the Payza Personal Manual for more details on how to order and use the Payza Card.

Ordering Your Payza Card

To order a Payza Card, first make sure your Payza account is verified. Only members with verified accounts will be able to order the card.

Once your account is verified, just follow these steps to order your own Payza Card:

  1. In your Payza account, click “Wallet” in the left side menu, then select “Prepaid Cards”.
  2. Click “Order your Card”.
  3. Select the type of card you would like to order and personalize it with your name if desired, then click “Next”.
  4. If necessary, upload a Photo ID and Proof of Address document then click “Next”. Your documents must be in .JPG or .PDF format and less than 3 MB in size.
  5. Confirm your shipping address, then click “Next”.
  6. Enter your Payza Transaction PIN then click “Order” to confirm your request.

Activating the Payza Card

Once your card arrives in the mail, the first thing you will need to do is to activate it by following these steps:

  1. In your Payza account, open the “Wallet” menu (on the left side) and select “Prepaid Cards”.
  2. Under the “Status” heading, select “Activate”.
  3. Enter the first 12 digits appearing on your card (the last 4 digits will already be entered).
  4. Create a unique Payza Card PIN and click “Confirm”.
  5. Click “Activate Card” to complete the activation process.

Please note: Your Payza Card PIN is not the same as your Payza Transaction PIN. We recommend choosing a different number to ensure maximum security.

Loading Your Payza Card

Now that your card is activated, it can be used just about anywhere you would use a traditional credit card. Of course, your starting balance on the card will be $0, so first you’ll have to load funds onto it. To load funds, simply create a withdrawal transaction in your Payza account and select Payza Prepaid Card as your withdrawal method. Just follow these three steps to load your card:

  1. In your Payza account, open the “Withdraw Funds” top menu, then select “Payza Prepaid Card”.
  2. Select the currency balance you’d like to withdraw from and the amount of funds to load onto your card.
  3. Review the details and click “Withdraw” to confirm your transaction.

Please note: The Payza Card is currently available in US Dollars only. However, you can load your Payza card from a non-USD currency balance and we will exchange the currency into USD within your account. You can also make Payza Card payments in other currencies and the currency exchange will be conducted by Payza.

It is important to remember that you cannot load the Payza Card using funds added to your Payza account by credit card. This constitutes a cash advance which is not permitted by the Payza User Agreement.

Using Your Payza Card

Once your card has been activated and loaded with funds, you can begin using it immediately almost anywhere you can use a standard credit or debit card: online, in stores, and at most ATMs. Here’s how to use the Payza Card in each of these cases.

Online

Making a payment online with your Payza Card is the same process as using a traditional credit card. You will be required to provide basic information such as your name, the card number and the expiration date in order to make a purchase. You may in some cases also be asked for your billing address: in this case, simply enter your address as it appears in your Payza account.

In-Store

In-store purchases using your Payza Card are no different from using a standard debit or credit card. Depending on the merchant’s POS (Point-Of-Sale) terminal, you will simply need to either swipe your card or insert it into the card reader, confirm the purchase amount, and enter your PIN to complete the transaction instantly.

ATMs

Most ATMs that accept MasterCard will allow you to withdraw funds from your Payza Card. To withdraw from the card, just follow these steps:

  1. Insert your card into any ATM that accepts MasterCard.
  2. When prompted, enter your PIN.
  3. When asked for the account type, select “Checking”.
  4. Complete your withdrawal by following the instructions provided by the ATM.

Solving Transactions Issues

If your Payza Card transaction fails, please ensure the following three things before contacting Payza for further assistance:

  • You have sufficient funds loaded onto your card.
  • You are using the correct Payza Card PIN (which may differ from your Payza Transaction PIN).
  • For online purchases, you are entering the name as it appears in your Payza account, even if it is different from your name as printed on your Payza Card.

If you have ruled these causes out and your transaction has still failed, please contact our Customer Support Team directly for further assistance. If you made an in-store or online purchase with your card and would like a refund or return, you should contact the merchant directly. If they are unwilling or unable to refund your purchase, you can contact our Customer Support Team for further assistance.

As we continue to increase our commitment to local payment options, the Payza Card will be made available to more customers all around the world. For more information about the Payza Card and other Payza products and features, please visit the Payza Reference Center and be sure to subscribe to our blog.