18 July 2012 ~ 18 Comments

Payza Updates and EgoPay new to Payment Processors

Business as Usual Updates Websites

So it was announced on the 13th of this month (July 2012) that Payza would no longer be supporting some sites, and the emails of panic have been flying in so I’m going to set some things clear here and now.

People without reading the Payza update are making assumptions that they won’t support affiliate marketing, this is not true.  Their update adds to the Activities Not Allowed section of the user agreement in that it will not support investment type sites, or unlicensed stocks / investments, etc.  The websites that fall into this category are, plainly, ILLEGAL.  That’s all there is to it, they are broadening their terms to make sure they are in line with federal regulations.  If you are using a site that used Payza but now won’t.. guess what, it’s not legal!  Most notably JSS which is a long running Ponzi scheme, even the well known fraud owner Fredrick Mann has admitted several times it’s Ponzi structure, and countries like Italy have even arrested affiliates of the site as being brokers of unlicensed investments.  If you run a legitimate program within the laws of your country, you have nothing to be concerned about!

Next is the matter of EgoPay, Mann and many other fraudulent investment site owners have been saying they are going to switch to this bogus payment processor called EgoPay, many are even claiming it is created by Payza, though neither company makes this claim.  I can guarantee you if Payza launched a new company, every member would know about it, but they did not.  EgoPay claims to be registered in Belize, but the domain was registered by a private firm in Arizona, where as with Payza, they claim to be in the UK which is also where their Domain is registered.  EgoPay also does not allow you to transfer to your bank account, they require you to use a non-guaranteed third party service to transfer your money to another payment processor which you can transfer out of.

This whole EgoPay thing smells of the same scent as the Illegal Investement Programs that are supporting it.

As with all marketing and especially when using your money, due diligence is necessary, if the scam investment site you are using does not take your money, the scam payment processor that supports them likely will.

As an Editorial Note, I am very thankful to see Payza’s change into being more in line with federal regulations as far as which companies they support, and making it more difficult for people to use the kind of illegal garbage sites that it no longer supports will with any luck put a slow down to these scamsters and prevent them from stealing more people’s money.

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  • ze

    JSS, now Profitclicking is absolutely legal. Do not talk about things you do not know about.

    • http://insidmaldesign.com insidmal

      It saddens me to see so many people have the blinders put on and fall for the hype the owner displays, JSS is completely illegal in every way, it is an unliscensed unregistered investment company, it is the definition of a Ponzi and defines what is illegal and wrong with MLM scams we see today. Now that it is Profit Clicking it is on the right track, but since clearly more than 50% of retail profits will come from it’s ponzi structure scheme, it remains illegal.

      The fact that Frederick Mann posted that it was purchased by another company, yet the company that owns Profit Clicking is owned by none other than Mann himself. These sort of shady business tactics further enforce the illegitimacy of this site.

      • Retro

        The company is an advertising company! One purchases and repurchases advertisement packs and gets daily rebates! One uses those advertisement packs to
        advertise a website on the company’s traffic exchange platform! You
        didn’t know this, did you? Now I wonder if you will continue to say that
        it’s a scam? If yes, that means that you are unteachable and
        un-coachable! If not, I’m glad that you got educated!

        • http://insidmaldesign.com insidmal

          It is NOW – It wasn’t for the last year there was no product they just recently added a product after watching the SEC shut down their buddies, even still – at least 50% of their companies income would ahve to come from advertising packs alone, and you and I both know people are not using it for the advertising packs, so this 50% will be unreachable, however it is nice that they are taking steps to at least TRY and be complaint with global regulations.

          It’s still the same Ponzi but now wearing a nicer suit.

  • http://profile.yahoo.com/O2A65PSYKLTATNAHWHK4UPRTPI Kathy

    Thank you for this update. I was
    watching GPT/PTC sites for a while and lost a few hundred learning as well. I
    was wondering if Payza update means that all sites like http://www……bux.com
    are illegal? Even when supported by PayPal?

    I live in US I am thinking of
    launching my own PTC site. I see some of them are operating successfully for
    years. Can anyone offer some advice or experience? Thx

    • http://insidmaldesign.com insidmal

      Get Paid To sites are generally fine – how they work is someone buys advertising, for example I may buy 1,000 hits for $5, the site company keeps some and uses the rest to pay the members for viewing the site, they are acting more of a middle man between the site and the viewers allowing the site to purchase page views from the viewers, this is in compliance with most countries laws as far as I’m aware.

      The kind of sites this is referring to are those that say Sign up, and earn 2% daily by doing nothing.  Those work by taking the money of the new members and using it to pay the old members, they frame it as an investment though there is no real investment being made, and the investment market is regulated though these sites are not licensing as investment sites and bypassing the regulations, which is illegal and unsafe.  These sort of investment sites fail for the very obvious reason that they simply can not create money out of thin air, their must be an influx of new members greater than the required payment to old members, if the site begins to slow down and payments can no longer be made, the site owner usually will take what has yet to be paid with them and shut down the site, leaving thousands of people out the money they “invested.”  The other cause of demise of these is legal prosecution of the site owner in which the feds take down the site, but the end result is the same for the end user – thousands left having lost their money.  These sites are illegal and immoral for the fact that the majority of people will lose money and will get ripped off in the end, the sad part is that people know this is true and promote it anyway, knowing that their affiliates have a chance of losing everything.

      • http://profile.yahoo.com/O2A65PSYKLTATNAHWHK4UPRTPI Kathy

        Thank you very much for taking time to explain the difference and getting into the detail of it.

  • Guest

    Egopay have put this disclaimer on their site: 
    We are not owned, in partnership or linked in any way with Payza.We are 2 separate entities with our own terms.

    • http://insidmaldesign.com insidmal

      I’m glad they added it, I don’t know who started the rumor that Payza owned EgoPay but it was clear from the get go that it was not true. 

  • http://profile.yahoo.com/4QLF23AEF2VX5BLHAQRU3KBBZE Mr. Wonderful

    Yes, I heard about this.  I disagree with your position on JSS.  Most people don’t understand it at all.   Their restart feature totally eliminates any type of ponzi from developing.  Yes, Mr. Mann has made statement on several of his calls after being baited by several clever callers to phrase things in a certain way, but I have to disagree with the illegal comments.    If they were a real ponzi, they would be falling apart right now.    Last I heard they were growing like crazy and recently hired a legal team to make changes to meet compliance issues in the US and Italy especially.   So I think before you throw a wet blanket on JSS and Fredrick Mann, you might want to do the research on how the plan actually works.   I spent several days breaking down their restart feature and realized what it was.  It converted any excess obligations into a different long term payment structure.    So it’s not a ponzi with that feature.   The only negatives I found with the program were how it was presented and the wording used.     This is why I believe they hired a US based law firm with compliance experience.     From what I can see, Mann’s entire operation is being dismantled and rebuilt from the ground up and fully compliant.    Time will tell.

    • http://insidmaldesign.com insidmal

      It is an unlicensed investment site you are making an “investment”  with a “return” however it is not legally licensed as an investment brokerage.  Paying returns with other members money is the definition of Ponzi, it will continue as long as it is continued to have growth and people “reinvesting”  as long as more money goes into the system than is taken out, all is well, as soon as that slows down however you can rest assured the site will be gone with a puff of smoke, assuming the government doesn’t take it down first, because these types of fraudulent investment sites are illegal in most all countries. 

      • Retro

        The company is an advertising company! One purchases and repurchases advertisement packs and gets daily rebates! One uses those advertisement packs to advertise a website on the company’s traffic exchange platform! You didn’t know this, did you? Now I wonder if you will continue to say that it’s a scam? If yes, that means that you are unteachable and uncoachable! If not, I’m glad that you got educated!

  • Uzzi90

    Thanx for this Update specially about Egopay because I received some emails claiming that EgoPay is owned by Payza..

    • http://insidmaldesign.com insidmal

      Yeah I had tons of emails saying to the effect that PayZa wasn’t going to do affiliate programs anymore but they made a new site called egopay that was and everyone needed to join egopay (under their affiliate id go figure)  …I knew right away that there was something fishy going on so went to do some homework :)

  • Jony

    Thank you so much for writing this.  Your last paragraph says it all.  The reason I myself fell into the HYIP trap (and lost some hard earned money)  is the thinking that there was no chance for illegitimate companies to get approved in Payza.  Apparently, I was wrong.   It doesn’t follow that payza approved companies are scam-proof. It’s such a welcome change for payza…

    • http://insidmaldesign.com insidmal

      Yes and it might also resolve some of the intermittent issues they have with some of the major banks.  Nothing will ever be scam proof, bad stuff still gets through paypal, though payza is a bit more thorough on checking their sites, but it’ll definitely be a step in the right direction, imo.  I’d like to see more agencies take charge and put even more pressure on some of these websites that are outright illegal, they do a huge disservice to not only their members, but an entire industry.

      • Maxizsofi

        How do I delete the Egopayrol? Thanks in advance

        • http://insidmaldesign.com insidmal

          I don’t know, sorry, I never signed up there so not sure how to delete account there. Sorry