Payza launches Bitcoin purchase option via bank transfers

Charlie Shrem, Payza business development consultant, has stated that Payza’s customers are not charged for depositing funds into their accounts. However, there is a 2% charge for customers who buy Bitcoin via the platform. Buyers lock in the price of Bitcoin upon purchase but the withdrawal process can be expected to take up to 3 days.

Customers who want to benefit from the service must create an account by selecting the country in which they reside and then choose to open a personal or business account. Both accounts allow users to collect payments, exchange currencies and make payments via the platform. Then, they provide their first and last name, email address and create a password before validating their email.

To transact, Payza customers need to complete their profile with the service, providing information such as their job title, industry of work and Social Security number. Then, users input their address, phone number and create security questions to ensure the safety of their account.

Via the ‘Withdraw Funds by Bitcoin’ feature, Payza customers can buy Bitcoin by withdrawing funds, verifying the currency and confirming the transaction. To start this process, users click on the ‘Withdraw Funds’ button on the top corner of their account screen. Next they select ‘Bitcoin’ from a list of available options that includes bank transfer, bank wire and credit card.

Finally, Payza customers enter the amount of funds they want to withdraw. They must withdraw a minimum of USD 20 to complete their order.