How to send and receive payments using “Paxum Account”?

What is Paxum?

Paxum is a global ewallet payment service based out of Montreal, Canada.

Incorporated in 2007, Paxum is registered as a Money Services Business worldwide enabling Paxum customers to send money anywhere with just an email address.

When you want to send and receive payments INSTANTLY with just an email address to anywhere in the world, Paxum can help!

Paxum is a cost-effective way for Business Owners to send bulk payments to their employees, affiliates, clients and suppliers worldwide. The Paxum Interface is easy-to-use enabling Business Owners to send 100s of payments at the same time saving considerable time in the process.

Secure, private, and anonymous, Paxum ewallet makes sending and receiving payments fast and easy, on a global basis.

Whether you’re sending money to employees, affiliates, publishers, contractors, friends or family, or whether you’re receiving payments so you can access your money instantly; Paxum is a fast, effective and low cost solution.

What facilities are offered by Paxum to its users?

 

Wire Transfers                                  :           Send mass wire transfers worldwide

Virtual USA and EU Accounts        :           Receive local SEPA (Single Euro Payments Area)

and ACH (Automated Clearing House) payments

straight into your account.

Local bank transfers                                    :           Available in 50+ countries in over 20+ Currencies

Fund Any Card                                  :           Send funds to any VISA or MASTERCARD

What benefits paxum is giving to its individual customers?

• Get paid for your work.
• Send Payments to other Paxum users.
• Receive Payments from other Paxum users.
• Dedicated IBAN EUR Account for incoming EUR payments.
• Dedicated USA ACH Account for incoming USD payments.
• Multiple withdrawal methods including Paxum Prepaid Card

In which ways to access your funds through Paxum which are;

• Wire Transfers

Send and Receive wire transfers.

• EFT Transfers

Available in 50+ countries in over 20+ Currencies

• P2P Transfers

Buy and Sell goods and services with instant transfers to other Paxum Clients.

• Fund Any Card

Transfer funds electronically to almost any Visa®, MasterCard®, or China UnionPay® worldwide.

• Paxum Prepaid Card

Withdraw funds from ATMs worldwide and make purchases online or at local stores.

 

Receive Payments

Paxum provides multiple methods to receive payments into your Paxum Payment Account in more than 6 currencies (USD, EUR, GBP, AUD, CAD, RON)

Transfers from other Paxum Clients

Receive instant transfers from other Paxum clients. This is by far the most popular, fastest and cheapest way to get funds into your Paxum Payment Account.

WIRE Transfers

All incoming wires will be credited straight into your Paxum Payment account.

ACH

Receive a virtual USA bank account (USD) with ACH capability. Your beneficiary name will be on the account and you can accept payments via the ACH network. This is great for clients who work with USA companies that can only pay to USA based bank accounts.

SEPA

Receive a virtual SEPA bank account with SEPA capability. Your beneficiary name will be on the account and you can accept payments via the SEPA network. This is great for clients who work with EU companies that can only pay to EU based bank accounts.

 

Transfer and Withdrawal Methods

When you receive funds to your Paxum Checking Account you have multiple withdrawal options; Wire, Check, EFT, to an already existing credit/debit card, and to the Paxum Card.

Many clients also use their Paxum Checking funds to send Instant P2P payments to other Paxum Account Holders for goods and services such as hosting, traffic, domains, etc.

With the Paxum Card you gain instant access to your funds anywhere in the world, and remember since transfers to the Paxum Card are all INSTANT, you don’t have to wait at all to put that cash in your hands!

 

WIRE Transfers

Wire transfers via SWIFT network is one of the most common ways to transfer funds worldwide. Our network of banking partners enables you to transfer funds to over 200 countries in over 14 currencies.

P2P Transfers

Make instant transfers to other Paxum Clients.

Fund Any Visa, Mastercard or Union Pay Card

If you have a bank card (Visa or MasterCard) issued by your local bank, you can withdraw funds directly to your card. Funds usually arrive in less then 24 hours.

EFT transfers

Local bank transfers are available in over 50 countries in local currencies. See full list here. Unlike bank transfers through the SWIFT network, local bank transfers, also referred to as EFT, are much cheaper. In some cases local bank transfers can take less then 24 hours to be credited to the account.

Important Note:

Recipient bank account must be held in Local currency.

Local bank transfers

Local bank transfers are available in over 50 countries in local currencies:

Paxum Prepaid Card

The most popular funds withdrawal method is PAXUM PREPAID CARD. Available in USD and shipped within a few days. Withdraw funds from ATMS worldwide and make purchases online or at local stores.

 

Why Choose Paxum For Mass Payouts?

Paxum mass payout solution was designed with the discerning Corporate Clients’ needs in mind. Fast, efficient, secure and cost effective.

• Cost Effective
• Low transaction fees, free monthly maintenance!
• Worldwide Coverage: 95% coverage throughout the world’s correspondent banking network.
• EFT Transfers : Local Bank Payments to 50+ Countries in 20+ currencies

 

Multiple Payout Options

We offer wires, local bank transfers, bank card fundings, debit cards, cash payouts.

Payout Methods

Enhance your customer’s experience by offering multiple payout options:

P2P Transfers

Send money instantly to other Paxum account holders with a click of a button. All you need is their email address. Thats it!

WIRE Transfers

Worldwide Coverage. Wire transfers are sent via SWIFT network and are the most common way of sending money in the world. Over 200+ currencies are supported. Transfer time is usually between 24-72 hours.

EFT transfers

Local bank transfers are a cost effective alternative to traditional bank transfers via SWIFT network. Funds are delivered in as little as 15 minutes to your recipients. Supported in 50+ countries in 20+ currencies.

Important Note:

Recipient bank account must be held in Local currency.

Fund Any Visa, Mastercard or Union Pay Card

The ‘Fund Any Card’ solution offered by Paxum allows businesses to transfer funds electronically to almost any Visa®, MasterCard®, or China UnionPay® worldwide. While international wire transfers and cheques may take up to two weeks to clear, ‘Fund Any Card’ transactions normally settle within two business days or less.

 

Personal Account Fees

General Fees

Current Account Monthly Maintenance                                                                                    FREE!

EUR IBAN Account (for incoming SEPA transfer                                                                       FREE!

USD ACH Account (for incoming ACH transfers)                                                                        FREE!

Dormant Account (Inactive for more then 6 Months)                                                              $5.00 per month

Account Funding Fees

Account Funding by Wire from your own account (USD)                                                         $50.00

Account Funding by Wire from your own account (EUR)                                                         $10.00

Account Funding by Wire from 3rd party (USD)                                                                       1%, min. $50.00

Account Funding by Wire from 3rd party (EUR)                                                                        0.5%, min. $10.00

Account Funding by SEPA transfer from your own account                                                    $5.00

Account Funding by SEPA transfer from 3rd party                                                                   0.5%, min. $5.00

Account Funding by ACH transfer from your own account                                                    $5.00

Account Funding by ACH transfer from 3rd party                                                                   1%, min. $5.00

Funds Transfer Fees

Funds Transfer To/From Other Paxum Account Holders                                                        $0.25

Escrow Transfer                                                                                                                              $0.25

Funds Transfer by Wire to your own account (USD)                                                                $50.00

Funds Transfer by Wire to your own account (EUR)                                                                $40.00

Funds Transfer by Wire to 3rd party (USD)                                                                              1%, min. $50.00

Funds Transfer by Wire to 3rd party (EUR)                                                                              0.5%, min. $40.00

Funds Transfer by SEPA to your own account                                                                           $5.00

Funds Transfer by SEPA to 3rd party                                                                                           0.5%, min. $5.00

Funds Transfer by ACH to your own account                                                                             $5.00

Funds Transfer by ACH to 3rd party                                                                                             1%, min. $5.00

Funds Transfer To Credit Card (Other than Paxum Card) owned by you                              $6.00 + 3%

Funds Transfer To Credit Card (Other than Paxum Card) owned by another person           $6.00 + 5%

Factoring Service Fees

Factoring Service Fee per Claim                                                                                                     $0.25 per Claim
Paxum Prepaid Card Fees

Paxum Prepaid Card Issue                                                                                                               FREE!

Paxum Prepaid Card Yearly Fee                                                                                                      $44.95

Funds Transfer from Payment Account to Paxum Prepaid Card                                              $0.25

ATM Withdrawal in USD currency                                                                                                 $2.00

ATM Withdrawal in other currencies                                          $2.00 + Conversion Rate applied by the Bank

POS Transaction in USD currency                                                                                                    FREE!

POS Transaction in other currencies                                                                                               FREE!

Declined Transaction                                                                                                                           $0.50

ATM Balance Inquiry                                                                                                                           $0.50

PIN Code Change                                                                                                                                 $1.00

Replacement Card                                                                                                                              $44.95

Card Delivery to International Address                                                                                Standard Shipping – FREE!

Express Shipping – $95.00

Dispute (Chargeback)                                                                                                                         $40.00

Glossary – Paxum Platform Services Terms of Use

“Account” means an account made available to a User through which User can transmit instructions or receive information in relation to the Platform Services;

“ACH” means Automated Clearing House payment transaction;

“Affiliate” means, in relation to a Person, another Person that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or common control with the Person, or a Person’s principal partners, shareholders, or owners of some other ownership interest.

“API” means application programming interface;

“Applicable Laws” shall mean laws, statutes, codes, ordinances, orders, decrees, rules, regulations, and municipal bylaws, whether domestic, or foreign, all judgments, orders, writs, injunctions, decisions, rulings, decrees, and awards of any government authority having jurisdiction;

“Application” means the paper or online application completed by User when applying for the Platform Services all of which is incorporated herein by reference;

“Data” means data related to User Data Transactions or Paxum Data;

“Effective Date” means the date on which User electronically accepts this Agreement online or executes a written acceptance of the terms hereof.

“Intellectual Property Rights” means all patent rights, copyright rights, mask work rights, moral rights, rights of publicity, trademark, trade dress and service mark rights, goodwill, trade secret rights and other intellectual property rights as may now exist or hereafter come into existence, and all applications therefore and registrations, renewals and extensions thereof, under the laws of any state, country, territory or other jurisdiction.

“Paxum” has the meaning set out in the preamble of this Agreement;

“Paxum Data” means information concerning Paxum System or provided to User by Paxum through the Account or otherwise;

“Paxum Entity” means any one of the Paxum Group;

“Paxum Group” means any one of Paxum, Paxum Inc (Belize) or any of their Affiliates;

“Paxum Payment Services” means any service by which Paxum takes possession or control of User funds as an ewallet, payment processor, factor or other form of service provider;

“Paxum Payment Service Terms” means a Payment Services Provider Agreement between User and a Paxum Entity;

“Paxum System” means a cloud-based system operated by Paxum that allows User to access their Account and initiate User Data Transactions;

“Payment Network” means Visa U.S.A., Inc., Visa International, Inc., MasterCard International, Inc., and any other credit or debit card issuing company;

“Payment Services” means the services of Payment Services Providers pursuant to Payment Services Provider Agreements, which might, at the discretion of User and the Payment Services Provider, include payment processing, emoney issuing, cash advance services or other payment and related services;

“Payment Services Provider” means Paxum or a third party, which, in each case, is also party to a Payment Services Provider Agreement with User and is acting in that capacity;

“Payment Services Provider Agreement” means an agreement between User and a Payment Services Provider concerning the supply of Payment Services. The Paxum Ewallet Terms of Use, Paxum Payment Processing Merchant Terms of Use and Paxum U.S. Payor Prepayment Terms of Use are all, without limitation, Payment Services Provider Agreements;

“Person” is to be broadly interpreted and includes an individual, a corporation, a partnership, a trust, other forms of entity, an unincorporated organization, the government of a country or any political subdivision thereof, or any agency or department of any such government, and the executors, administrators or other legal representatives thereof, acting in such capacity;

“Platform Service Fees” means those amounts for which Users are liable to pay in consideration of the Platform Services as set out on the Site, such as they are from time to time;

“Platform Services” means the service of real-time, secure data transmission and data processing for multiple business-to-business payment methods;

“Product” means any product or service for sale or provided by User;

“Prohibited Activity” means the operation of or the direct or indirect facilitation of any of the following: any act that is illegal in the United States or in the jurisdiction where the person carrying out the activity is resident, domiciled or located; bath salts and herbals; betting, including lottery tickets, casino gaming chips, off-track betting, memberships on gambling-related internet sites and wagers at races; buyers or discount clubs; cigarettes, tobacco or e-cigarettes; credit counseling or repair agencies; credit protection or identity theft protection services; digital currencies; direct marketing; inbound or outbound telemarketing businesses; internet, mail or telephone order pharmacies or pharmacy referral services; items that encourage, promote, facilitate or instruct others to engage in illegal activity; items that may be counterfeit including, but not limited to: designer handbags, clothing and accessories, and consumer electronics; items that may infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction; items that promote hate, violence, racial intolerance, or the financial exploitation of a crime; items that promote, support or glorify acts of violence or harm towards self or others; legal fees including bankruptcy attorneys; live animals; medical equipment; payment aggregators; prepaid phone cards or phone services; purchase, sale or promotion of drugs, alcohol, or drug paraphernalia, or items that may represent these uses; real estate or motor vehicles; rebate based businesses; sales of money-orders or foreign currency; up-sell merchants; using the Platform Services as a means to transfer funds between bank accounts held in the same name; using the Platform Services for any illegal purpose, or in violation of any local, state, national, or international law, including, without limitation, laws governing intellectual property, taxation and other proprietary rights and data collection and privacy; using the Platform Services in a manner that Paxum or any Payment Network reasonably believes to be an abuse of the payment card system or a violation of Rules; using the Platform Services in any manner that could damage, disable, overburden, or impair Paxum including without limitation, using the services in an automated manner; using the Platform Services in violation of the terms of this Agreement, as reasonably determined by Paxum; using the Platform Services that in any way assists User or others in the violation of any law, statute or ordinance; using the Platform Services to collect payments that support pyramid or ponzi schemes, matrix programs, other “business opportunity” schemes or certain multi-level marketing programs; using the Platform Services to control an account that is linked to another account that has engaged in any of the foregoing activities; using the Platform Services to defame, harass, abuse, threaten or defraud others, or collect, or attempt to collect, personal information about users, registered recipients, or third parties without their consent; using the Platform Services to intentionally interfere with another user’s enjoyment of it, by any means, including uploading or otherwise disseminating viruses, adware, spyware, worms or other malicious code; using the Platform Services to make unsolicited offers, advertisements, proposals, or to send junk mail or spam to others; using the Platform Services to provide User or User’s customer with a cash advance from User’s or customer’s own credit card or to help others to do so; using the Platform Services to send or receive what Paxum considers to be funds for something that may have resulted from fraud or other illegal behavior; using the Platform Services while impersonating any person or entity or falsely claiming an affiliation with any person or entity; or weapons including replicas and collectible items; weight loss programs; wire transfer money orders;

“Rules” means the rules and regulations of Payment Networks, such as they may be from time to time;

“Site” means http://www.paxum.com, or such other site as Paxum may use to supply the Platform Services;

“User” means a Person that has accepted this Agreement with Paxum for Platform Services;

“User Data Transaction” means information transmitted or attempted to be transmitted by way of the Platform Services and includes authorization, delayed capture, sale, void, voice authorization, inquiry, verification, reference transaction, non-reference credit, or credit data transmission between User, Paxum and a Payment Services Provider.

“User Deposit Account” means a bank account of the User designated by the User as the account from which Platform Service Fees can be debited, which may be an account with a Payment Services Provider;

“User Site” means the web site(s) used by the User to solicit customers or accepts User Data Transactions;

“Frequently asked questions regarding Paxum”

 

How do I open an account?

Opening an account is very easy. Just click on the link and fill out the application to instantly open an account.

What is the minimum age?

To open an account you must be at least 18 years old.

Why do you require my identity verification documents?

We are a licensed financial institution and have to comply with AML laws. This requires us to identify all clients. The account verification procedure is straight forward and is usually completed within 48 hours. You will not be allowed to send any money before you verify your true identity.

In what currencies can I open the account?

We offer Payment Accounts in USD, EUR, AUD, CAD, GBP, CHF, DKK, HKD, JPY, NOK, NZD, SEK, SGD, ZAR.

How safe is it to use Paxum?

Your information is transmitted to our servers using a secure connection. All your personal data is encrypted and access is only available by relevant Paxum Inc. personnel. All your payment transactions must be digitally signed by a secure code which is sent to your phone number.

How can I receive money to my account?

There are multiple ways to receive funds into your Paxum Payment account. You can receive money by bank transfer (WIRE, ACH, SEPA), or from other Paxum account holders via instant P2P payment transfer.

Can I receive funds from 3rd parties?

Yes you can.

I want to be paid from a company that doesn’t have an account with Paxum. How can I do it?

You will need to issue an invoice to the company you want to be paid from. They will have an option to pay your invoice via a bank transfer. The money paid will be deposited straight into your Payment account.

What is a dedicated US ACH account?

No matter where you are located, you will be assigned a dedicated US Virtual account at a major US bank with your name on the beneficiary field. If you work with US based companies, this option will make your job a lot easier to be paid by them for your hard work.

What is a dedicated IBAN EUR account?

Receive your own IBAN account for EUR payments at a major bank in Europe with your own name on the beneficiary field. Now you can easily receive SEPA transfers to your account which is great if you do a lot of business with other European based companies.

How can I transfer money from my Paxum account?

We make it very simple for you to get access to your funds. See below which methods are available:

To another Paxum account holder

Wire Transfer

EFT (Local Bank Transfer)

To any Visa/MasterCard/UnionPay card with another financial institution.

Can I transfer funds to 3rd parties?

Yes you can.

How can I do mass payouts from a Paxum account?

All Business Account holders, have the option to streamline their global payouts with our Mass Payout solution. Just upload a CSV or XML file or automate the process via API.

Below transfer methods can be used for mass payouts:

Instant Transfers to other Paxum account holder

Wire Transfer

EFT (Local Bank Transfer)

To any Visa/MasterCard/UnionPay card with another financial institution

How can I request the card?

You can request the card after you provide us all required identify documents that allow us to verify your true identity.

How long does it take to receive it?

Usually your card will be ready to be shipped within 20 business days. Postal mail delivery takes anywhere from 5-20 days. If you need your card delivered faster, you can choose an express delivery option for an additional fee.

I just received my card. Now what?

You need to activate it inside your account before you can start using. Activation is real time and you will be able to start using your card right away.

How do I add funds to my Paxum Card?

Instantly transfer funds from your Payment Account to your Card Account in the Transfer Funds section of your Paxum Account.

In what currencies cards are issued?

Paxum Prepaid Card is available in USD currency.

Where can I use the card?

Paxum Prepaid Card is accepted worldwide. You can make transactions online or go to a store and make signature based purchases just like you would do with any other regular credit card. You can also use your Paxum Prepaid Card to withdraw money from most ATMs around the world.

I found unauthorized charges on my Paxum card. What should I do?

Log in to your account and initiate a dispute or contact us by phone 1-866-347-4781.

What do I do if I lost my card?

Contact us immediately by phone 1-866-347-4781 to report your card lost or stolen. Your card will be immediately canceled and a new one reissued and shipped to your location.

How do I verify Paxum Card in Paypal?

Once you add your Paxum Card to Paypal, within 2 business days you will see a transaction from paypal in your Paxum Card Statement in your Paxum Account.

The transaction will look like PP*xxxxCODE, where XXXX is the code that you need to enter on Paypal’s website for verification.

What is Factoring?

Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) for a fee.

When is Factoring done?

All payments originating from US payers, will be factored by Paxum, meaning we will purchase your invoies to the US payer and pay you ourselves. We will present this payment to the US Payer ourselves, and all payments for the purchased invoices are now due to Paxum.

How much does a factoring service cost?

Paxum will charge Business Users $1.00 and Personal Users $0.25 for each invoice to a US payer purchased from you.