23 june 2020 1 comments

Paxum is processing with caution

A couple of days ago people in digital marketing chats started raising questions as to what is going on with Payoneer and Paxum.

Support teams advised affiliates to transfer and withdraw funds from these payment systems with caution, while the services themselves claimed that the money stored on Payoneer and Paxum accounts and cards were safe and secure.

Then, Exoclick informed its partners that Paxum had been temporarily disabled as a payment method due to circumstances outside of the network’s control.

So, what has gone wrong with Paxum?

It all started on June 19 when payment processor Wirecard (Paxum’s partner) was charged with money laundering. To put a long story short, the accounting scandal centers on a missing sum of $2.1 billion that never entered the Philippine financial system. It still remains unknown where the money is now. The company’s stock fell considerably as financial authorities launched an investigation against Wirecard.

Considering that this is the second payment system after ePayments that has been accused of not playing fair, the concerns of Paxum and Payoneer (Payoneer’s card were issued by Wirecard not so long ago, while Paxum is Wirecard’s processing partner) are more than justified. However, Paxum also claims that it will continue to operate as usual and is looking forward to resuming its cooperation with Wirecard once all issues are resolved.


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Comments
eca
05 august, 05:52
I wish to circulate as much as possible this which is a warning against the firm PAXUM which claims to be a card and a payment facility and is only an incredible scam!
So this PAXUM firm indicates an address in Quebec which is in fact only a post office box on the facade of UPS! first lure!
Their phone leads to another place where they don't want to give you the coordinates!
A friend of mine living in northern European countries opens an account and receives money there. BUT to have access to it he must certify his postal address. AND despite sending bank documents (including with the official seal of the bank establishing his residence address!), A copy of the rental lease, his passport and identity card, bank statements and bank card statements : nothing helps it is never enough or the necessary document! and meanwhile PAXUM has the money in its books!
It's a gangster scandal!
How does Canada tolerate this type of situation from its territory?
I won't let go until this clears up!
Help me and please share!
Thank you !
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