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Affiliate Payouts & Wallets · Editorial review

Payz review: a Cypriot e-wallet with account tiers

payz.com

Payz is an e-wallet licensed by the Central Bank of Cyprus, in business since 2000, with accounts in 50 currencies and Mastercard cards. Its fees depend on five account tiers.

Licensed institutionMulti-currency accountsMastercardAccount tiers

Our verdict on Payz

Payz suits a webmaster whose partner already pays through Payz and who wants a licensed multi-currency account with a Mastercard. Transfers with Payz merchants are free on every tier.

The entry tier cannot withdraw to a bank or send money, and later withdrawals cost €5.90 to €10 each.

Payz home page, a multi-currency e-wallet
Payz

How much Payz costs

A withdrawal to your bank costs €5.90 to €10, or €2.90 to €7 on VIP. A bank deposit costs a percentage that varies by country, a card deposit 1.69% to 6% plus €0.25, and a deposit to the virtual IBAN €0.50. Sending money to another Payz account costs 1.50% on Silver, €0.50 minimum, and is free from Gold.

FX costs 2.99% on Classic and Silver, 1.49% on Gold and Platinum, 1.25% on VIP. An inactive account pays €5 a month. Registration and transfers with Payz merchants are free.

The five Payz account tiers

Payz sorts accounts into five tiers, Classic to VIP, and the tier decides what you can do. Classic cannot withdraw to a bank or send money, and has a €2,500 lifetime limit. From Silver you get up to 10 accounts in 50 currencies and up to 4 Mastercards.

The balance is capped at €15,000 on Silver, €100,000 on Gold and €120,000 on Platinum, with no cap on VIP. Merchant transfers range from €1,000 a day on Classic to €30,000 on VIP.

Payz for merchants

A merchant can accept Payz in up to 50 currencies, with a dedicated account manager. Payz also runs its own affiliate program, paying a weekly revenue share on referred customers’ payments.

Who runs Payz

Payz is a brand of IPS Solutions Ltd, Cypriot company HE346719 in Nicosia, licensed as an electronic money institution by the Central Bank of Cyprus under license 115.1.3.28. IPS Solutions also issues the Mastercard. Payz says it has offered its services since 2000.

Strengths and limitations of Payz

Strengths

  • Licensed by the Central Bank of Cyprus.
  • Accounts in 50 currencies.
  • Free merchant transfers.
  • Fees published by tier.

Limitations

  • Classic tier with no withdrawals.
  • Paid bank withdrawals.
  • €5 a month inactivity fee.

Payz vs Yoursafe and Paxum

Yoursafe, a licensed Dutch institution, opens a free account with an IBAN and charges €0.75 for outgoing SEPA. Paxum already serves the adult industry and publishes its fees. A European webmaster choosing an account looks at Yoursafe first, Payz being mostly useful when a partner already pays through it.

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