EcoPayz is a digital payments platform, that was formed in 2000 during the cashless transaction boom. It was originally called EcoCard and it happens to be one of the first digital wallets, but it offered limited features. EcoPayz became a full-fledged digital wallet in 2008, after getting licensed by the FCA (Financial Conduct Authority) in the UK. The license gave the company the power to issue digital currency at fair rates, in return for maintaining strict security and privacy standards.
EcoPayz is managed by PSI-Pay’s Group, which operates from Horsham, UK. It is one of the oldest company with alternative payment solutions. Originally, it was a national player in the UK markets but now it has presence in 160+ countries and it offers transactions in 45 currencies. Apart from online transactions, PSI-Pay Ltd. also provides virtual and physical EcoPayz cards, which can be used to pay corporate or individual credits. EcoPayz cards remain a popular method of remote-payments due to its wide outreach and hassle-free procedure. It is also popular in corporate circles due to its high limits for business account holders.
EcoPayz has seen a steady growth in its user base from 2008 when it was formally launched as a global platform. The first big move for EcoPayz came in 2009 when it teamed up with MasterCard to make payments simpler and easy to process. In 2009, it launched its first e-wallet app for Android as well as iOS users. In the following year, the company would provide 24/7 multilingual customer support in all the countries it operates, making it one of the best in this category. The company also launched EcoPayz Business Account, which became a popular way of remitting money overseas. Finally, in 2013, the brand EcoPayz was created from its earlier avatar, EcoCard. The company upgraded their technological foundations and also developed a seamless mobile version for the payments on the go.
PSI-Pay Ltd, the mother organisation behind EcoPayz, is a principal member of the MasterCard family and is authorized to create and issue credit with MasterCard’s logo. Additionally, the company strictly adheres to all the Payment Card Industry and Data Security Standards guidelines, which are issued by Information Commissioners Office (ICO). The organization is also a full-time member of Electronic Money Association, which is a trade body representing the interests of electronic currency within Europe. EcoPayz also offers the latest safety features in the digital payments world. It hosts a separate department to look after fraudulent transactions, that develops its own Fraud Detection Engine, combining user behavior, multi-level encryption, and analytical auditing. The company was rewarded the Best ‘Anti-Fraud/Security Solution’ in FSTech Awards 2015 and nominated in Payment Awards 2014 in the security category.
Transaction in EcoPayz is easy and cost-effective. Registration is free and there are no account maintenance charges. However, the company charges £/€/$ 5 each month, for account maintenance if your account is inactive for more than 12 months. EcoPayz follows a multi-tiered Account system and has four account types, “Classic”, “Silver”, “Gold”, “Platinum” and “VIP”. Each level attracts different bonus offers and cash back, along with exclusive gifts that place it on par with popular e-wallets like Skrill and Neteller.
EcoPayz charges 4.00% (minimum charge £/€/$ 0.80) for all its cash services, which includes making international payments at travel agents, hotels, e-commerce sites, gambling, and gaming sites. It will also include a 2.00% (minimum charge £/€/$ 0.40) transaction processing charge and a currency conversion fee of 2.99%. A lost EcoPayz card can be replaced for a flat £/€/$ 12.50. All other charges like account statements, an update of customer details, card renewal, card cancellation/redemption are free of charges. The transaction limits in EcoPayz are £/€/$ 4,000 per day, £/€/$ 10,000 per week and £/€/$ 30,000 per month. However, EcoPayz business accounts have higher monthly transaction limits that can reach up to £/€/$ 500,000 a month. Withdrawals to bank accounts will entail a fee of £/€/$ 5-12, per transaction, depending on the country you reside.
Using EcoPayz at Online Casinos
If you have an EcoPayz account and want to make payments through it, you have to make sure that the online casino accepts EcoPayz. If you find EcoPayz as a valid payment point, simply fill in your deposit details and click on the EcoPayz option. The casinos will directly take you to your EcoPayz secured server, where you have to fill in your login details and you will get access to your EcoPayz wallet. EcoPayz uses a username and password, which is backed up with your mobile phone number and your email-id. At this stage, you can directly validate the payment if you have enough balance in your EcoPayz account, or you can deposit fresh funds into your EcoPayz account through bank/wire transfer, card payments, etc.
Your funds will be instantly credited into your online casino and you can start playing immediately. To receive payments from online casinos into your EcoPayz account, simply select the withdrawal gateway as EcoPayz and you will find your funds appear after the request is processed. You can then withdraw the amount from your EcoPayz account to your bank after paying the service charges.
Advantages: + Fast and instant payments + 160+ countries + 45 different currencies + Loyalty program + High transaction limits + ATM convenience