Egopay, the resurrection of Alertpay or the way to pay!
Things took place really fast since Friday, 13 July. The outcome? A new e-wallet is born. Egopay, the name of them.
Payza announced changes in their policy
With a short yet convincing blog entry, Payza announced the change of their policy in regards to some disallowed activities which cannot operate through a payza account, and will be in effect as of the 20th of July. Practically, HYIP (High Yield Investment Programs) or any other similar program that promises return on investment are no longer supported by Payza.
Section 6.02 – Activities Not Allowed
- Any indication or demonstration of a literal rate of return on a contribution, payment or investment, while not being licensed to sell or solicit.
- Selling of Unregistered/Unlicensed Stocks, bonds, securities, options, futures, or investments in any entity or property, including (but not limited to) corporations and partnerships or sole proprietorship, are prohibited:
- Solicitation, marketing campaign, direct selling or any other comparative effort will be considered a violation of the User Agreement. If you are registered or licensed to take such action, you may be requested to present documentation demonstrating authority to do so from a Securities Exchange Commission, Commodities Futures Trading Commission or other equal and comparative agency
Makes sense, since Payza is struggling to prove that is a legitimate company and is compliant with any US or Canadian law that prohibits any kind of scheme that fits to the above description.
EgoPay, the way to pay!
Using a similar naming that reminds the old Alertpay, Egopay is a registered company in the country of Beliz and the substitute of Payza for the HYIP sites. There are already sites that have announced the switch from Payza to EgoPay as far as deposits and withdrawals are concerned. It is not 100% verified yet but it seems like EgoPay is created by some Payza executives. Egopay is not like Payza in the terms of processing funds and such. It is similar to Liberty Reserve and Perfect Money, meaning that you are stuck with your funds and need an e-currency exchanger to make them real. An advantage though. You are able to directly move in /out funds from Payza to EgoPay and vice versa. You can verify it by visiting the following page:
It is the list with the verified exchangers and EgoPay is there included all of a sudden.
Technically, Payza is not out of the HYIP industry. They are now legally clear and with more fees coming in to their wallets. Period.