The email I received from one of my sites this morning saying that Payza is already gone had made me bewildered. Although it’s been a while since I used the site to receive payment, I am still greatly affected by the issue. It is because I know that many of our friends here are using this payment processor.
I immediately proceed to the site to check the status and saddened when I discovered that I could no longer access the site.
Alleged Reason for Payza Shut Down
Based on the news posted on US Immigration and Customs Enforcement (ICE) dated March 20, 2018, it was stated that Payza and 2 Canadian Brothers were accused of operating unlicensed money service business and money laundering. Allegedly, Payza has processed more than $250 million of proceeds from Ponzi schemes, child pornography rings, and other criminal enterprises.
The United States Department of Justice likewise released a news regarding this issue. MH Pillars, Ltd., doing business as Payza, has been indicted by a federal grand jury in the District of Columbia. The charges alleging they operated an Internet-based unlicensed money service business that processed more than $250 million in transactions. Read the full text HERE.
What does it imply?
I am aware that many friends from several sites would be affected by this issue. Although we may not be directly affected since we are using PayPal as a payment processor, it would be a great deterrent factor for our brothers and sisters who are from countries which are not allowed for PayPal transactions.
Payza is one of the payment processors that most of my online friends are using. The reason for this was because their country is not covered by PayPal.
What Can We do?
Update: Bitlanders, a US company where I am a member, already suspended sending payment to Payza. All those members with current Payza request have been canceled and the funds were returned to their accounts. The site will be opening new payment method, cryptocurrency in the coming days.
A Temporary Solution?
With an aim to find a solution to this current issue, I continuously searched online and found a new link. I am not sure if this would be a permanent solution but when I tried to log in with my current login details, I was able to log in. although, I am not sure if I can transact on the site.
Here is the new link: https://secure.payza.eu/
I will continuously update this post for new and relevant findings. Thank you for dropping by.
Here is a video explaining the details fo the lawsuit filed against Payza.