Paxum Revamps Payment Platform

Paxum Revamps Payment Platform
Stephen Yagielowicz

MONTREAL — Paxum has announced sweeping changes to its global e-wallet payment platform.

According to the company, its introduction of EUR IBAN accounts and third-party incoming and outgoing payments means greater payment flexibility for clients of the multifaceted payment platform.

“In our continuing efforts to provide the most versatile and practical e-wallet payment service we are thrilled to implement EUR IBAN and third-party options for our clients,” said Paxum CEO Octav Moise. “We pride ourselves on the ease of use of our platform and with these changes things just got even easier.”

EUR IBAN accounts are enabled by default for existing and new clients with a Paxum EUR currency account with every Paxum account-holder using EUR IBAN given an individual IBAN in their name and the ability to receive EUR currency payments to their Paxum account.

In addition, Paxum clients can apply for permission to receive third-party USD payments and to send third-party USD and EUR payments; however, third-party payments are not yet available to U.S.-based clients. Fees associated with the new third-party operations are percentage-based with listed minimums, and loading funds and transferring funds by wire or ACH/SEPA will be .5 percent for EUR transactions and one percent for USD and other currency transactions.

“Freelancers and affiliates should jump on this,” said Ruth Blair, Paxum’s head of marketing. “It’s a great way to consolidate EUR payments into one location where you can easily access all your earnings.”

Another aspect of Paxum’s latest implementation is a noteworthy reduction in fees for Paxum EUR currency account holders. Loading EUR funds by wire transfer now have a $10 USD fee, reduced from $50 USD. Clients can also add EUR funds by SEPA, with a fee of $5 USD. Withdrawing EUR funds by wire is now $40 USD, reduced from $50 USD, and to withdraw funds by SEPA is now $5 USD instead of the previous EFT withdrawal option at $8.95 USD.

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