So we funded Paxum last week for affiliate payments and it appears that the wire from our bank to fund Paxum was lost due to the financial crisis in Europe (according to our bank). We are trying hard to get this money back…
But this may be the end of Paxum payments for us, we reached out to Paxum and they have not been helpful. I will be contacting our affiliates directly who are paid via Paxum to which to another stable payment form, but let this serve as a warning.
We will be sending check payments to those who are currently set as Paxum going forward (until further notice) for those who are able for the last pay period(s).
Re: Paxum Payment Issue - Careful using this Payment Form
That sounds awful Chuck! I hope you guys can get your money back. Keep us posted.
We’ve also been having huge issues with funding our Paxum Account as they stopped allowing funding from both of my banks, and additionally don’t allow funding by Credit Card at all anymore.
I’m sad to say but with our funding issues, Damian’s Problem last month and now this news, I think Paxum is too high risk for us moving forward. I’m going to speak to my team about making a similar announcement. I tried to hold out as long as possible and come up with a solution before pulling the plug as we have a lot of affiliates on Paxum, but we can’t allow another EPassporte situation to occur.
Re: Paxum Payment Issue - Careful using this Payment Form
[QUOTE=dzinerbear;160938]I just ran to the ATM to play “Beat the Bank” and pull out the last bit of money I had on my Paxum Mastercard and it worked no problem.
I love working in the adult business, it always keeps you on your toes.[/QUOTE]
Yes and no, its not as simple as it might seem. Epoch is making it difficult for others too, not just Paxum. Epoch won’t wire payments to some countries leaving affiliates stranded and unpaid.
This isn’t another epassport but rather Paxum having to find banks they can work with which is probably why funds been lost. Banks do not want to do business with adult companies and I bet this is what is causing problems. In a way paxum is shielding its users from these banking issues and I can only hope they find a solution that remains stable.
It’s also easy to jump to conclusions, a lost wire payment does not mean paxum master cards will stop working or that you can’t transfer money to your own bank account. They use different banks for everything. One bank for incoming wire load payments, another for the MasterCard and yet another for EFT transfers.
Re: Paxum Payment Issue - Careful using this Payment Form
This isn’t another epassport but rather Paxum having to find banks they can work with which is probably why funds been lost.
I agree it isn’t another Epassporte, in that I don’t think the Owner (who I’ve met at the shows and seemed like a nice guy) is deliberately screwing with people’s money like Chris Mallack. However, when you are dealing with a bank in a country like Belize, a Support team that is becoming increasingly difficult to contact and get answers from, and hearing stories of trusted sponsors having their funds ‘frozen,’ I think we can all agree it certainly makes dealing with them extremely high risk at the moment. Some people may be comfortable with that risk. It’s easier for Affiliates that only receive a few couple hundred dollar payments per month in Paxum to take that risk, than a program owner who has to load in thousands (or even tens of thousands) of dollars into it every other week to pay out their affiliates.
It’s also easy to jump to conclusions, a lost wire payment does not mean paxum master cards will stop working or that you can’t transfer money to your own bank account.
The problem for sponsors is for most of us, we are now limited to sending wires with very high fees, and at a very high risk in order to fund our accounts. Would you Wire 20k into an account somewhere in Belize with the hopes that it ‘might’ make it through to that bank and not get frozen? So while I understand from the affiliate side this might sound like ‘jumping to conclusions,’ you have to understand that (in my opinion), and from what we know (and don’t know) right now, it seems crazy to take such a risk if you are a sponsor.
Re: Paxum Payment Issue - Careful using this Payment Form
[QUOTE=dannyz;160951]I agree it isn’t another Epassporte, in that I don’t think the Owner (who I’ve met at the shows and seemed like a nice guy) is deliberately screwing with people’s money like Chris Mallack. However, when you are dealing with a bank in a country like Belize, a Support team that is becoming increasingly difficult to contact and get answers from, and hearing stories of trusted sponsors having their funds ‘frozen,’ I think we can all agree it certainly makes dealing with them extremely high risk at the moment. Some people may be comfortable with that risk. It’s easier for Affiliates that only receive a few couple hundred dollar payments per month in Paxum to take that risk, than a program owner who has to load in thousands (or even tens of thousands) of dollars into it every other week to pay out their affiliates.
The problem for sponsors is for most of us, we are now limited to sending wires with very high fees, and at a very high risk in order to fund our accounts. Would you Wire 20k into an account somewhere in Belize with the hopes that it ‘might’ make it through to that bank and not get frozen? So while I understand from the affiliate side this might sound like ‘jumping to conclusions,’ you have to understand that (in my opinion), and from what we know (and don’t know) right now, it seems crazy to take such a risk if you are a sponsor.[/QUOTE]
No that obviously puts it in another perspective. But I also hold large sums in Paxum so that I can pay people who work for me, to me at least it’s worth the risk. The alternative is taking more wire payments which then increase the risk of banks asking questions and finding out it’s porn related which in turn leads to them closing the bank accounts. Paypal really is the better option as a backup to paxum but a lot of sponsors don’t offer it.
Re: Paxum Payment Issue - Careful using this Payment Form
Try Xoom to pay your guys. I use it to pay my guys in South America. It costs $5 to do a bank-to-bank transfer. The first one always takes a day or two to go through. After that it takes about 15 minutes. They love it. I love it. Fees are low (much cheaper than wires). And it has nothing to do with the adult industry â it’s just a bank-to-bank transfer. (And if you want to try it out, please use the link â I’ll get credit for referring you).
Re: Paxum Payment Issue - Careful using this Payment Form
Hi Chuck - please check your Paxum account. The wire was being held up due to non-completion of Add Funds by Wire (as explained via the ticket system), and it has since been credited to your Paxum account, after Add Funds by Wire was completed.
I’m sorry if you were under the impression your wire was lost. I hope you will reconsider your statement about ending Paxum payments. As long as Add Funds by Wire is completed for every wire you send to us, prior to us receiving it, there shouldn’t be any delays.
If anyone else in this thread (or on this forum) requires assistance or has any concerns, please don’t hesitate to contact me. My email is [email protected], my Skype ID is PaxumRuth
Re: Paxum Payment Issue - Careful using this Payment Form
[QUOTE=dannyz;160965]Hi Ruth,
Thank you for coming on here and posting!
Do you guys have any plans to allow Webmasters to load funds by Epoch, Credit Card or EFT again?[/QUOTE]
We are working on solutions for all options, but at the moment we do not have anything live and available for adding funds by Epoch, CC or ACH.
In the meantime clients can add funds by Wire, Check, or by receiving payments from Segpay (a processor in the adult space) or receiving payments from another Paxum account-holder. Sorry for any inconvenience.
Re: Paxum Payment Issue - Careful using this Payment Form
Thanks Ruth for replying and sorting this out… I was a bit confused by your email however:
“In case you weren’t aware, the reason for the wire delay was due to non-completion of the Add Funds by Wire section of your Paxum account. We require that it be completed prior to sending us a wire so that it is a) entered into the system properly, and b) you have the most up-to-date wire information to send to us.”
But this is how we understand the funding process: Once a request for a wire has been completed, the attached Paxum document generates with the amount, banking info. and reference number. If it was not completed then the request would never generate.
So I don’t think this is the reason for the loss of this wire transfer.
We will pay those affiliates pending with payments since Paxum is now funded, but this still has us uneasy to use Paxum going forward since this was not the first occurrence.
I hope you guys can get your money back. Keep us posted.