In this article, I will discuss Payeer and its features moving forward. Payeer is a modern e-wallet and a financial entity that stands out because of its ability to support multiple currencies and is present globally.
It includes features such as the mobile application, integration of secure transactions, and the availability of cryptocurrencies.
Payeer is suitable for personal and business purposes, whether for transferring money or trading in currency trading.
About Payeer
Payeer is an online payment system that enables users to process transactions in conventional currencies (euro, dollar, ruble) and virtual currencies (Bitcoin, Ethereum, Litecoin).
Launched in 2012 and holding a legal presence in Lithuania, Payeer transactions are available in 127 nations.
It has a multi-currency wallet allowing you to make transfers, receive money and send any amount of currency anywhere around the world.
Without a doubt, this system has gained popularity thanks to its numerous advantages. Users can make purchases and pay for services, exchange currencies and transfer money to each other at a very low cost.
That is why, nowadays, this system is convenient for private and commercial users who conduct many operations through the Internet.
Payeer Overview
| Feature | Details |
|---|---|
| Founded | 2012 |
| Registered In | Lithuania |
| Supported Countries | 127 |
| Supported Currencies | Fiat: EUR, USD, RUB; Crypto: BTC, ETH, LTC, etc. |
| Account Types | Individual, Business |
| Fees | Opening an account: Free; Monthly maintenance: Free; Internal transfers: 0.5% |
| Deposit Methods | VISA/MasterCard, PerfectMoney, Qiwi, Advcash, Cryptocurrencies |
| Withdrawal Methods | Advcash, PerfectMoney, Qiwi, VISA/MasterCard, Cryptocurrencies |
| Trading Fees | 0.095% |
| Currency Conversion Fees | From 0% |
| Security Features | Two-factor authentication, email and phone notifications |
How Do Open a Payeer Account?
First, new users willing to open a Payeer account must register on the site.
For instance, after pressing the “Create Account” button, they are entitled to enter their email address in a form, which is a requirement.
They can later fill in a verification code mailed to them or continue to create a password and perform other processes required in the setup.
Payeer employs strict policies that vary by jurisdiction to combat money laundering.
In some countries/territories, users must submit a form of government identification for verification.
People can also apply for business accounts, so it is essential to present company documents.
Money can be deposited into the account using a debit or credit card for personal or business purposes, and people can also answer questions about how the platform can improve it.
How To Deposit/Withdraw on Payeer?
How to Deposit on Payeer:
You need to log into your Payeer account in the first place:
It would be best if you input the proper credentials to log in.
Proceed to the ‘Deposit’ Section
In the dashboard, click on the “Deposit” option.
Opt for a Payment Method
Use any available methods, like credit/debit cards, wire transfers, coins, or electronic payment systems.
Type Deposit Amount
Type in how much you wish to deposit.
Confirm and Complete Transaction
Checking of the details will be needed. After doing this, you can follow the steps appropriately according to the selected payment method and make the deposit.
Withdrawal Procedure using Payeer:
Log into Your Payeer Account
Use your credentials to access your account.
Go to the Transfer Tab
Click on the “Transfer” tab to see withdrawal options.
Choose Withdrawal Method
Select your choice of withdrawal (bank wire, debit card, e-currency, etc.).
Enter Withdrawal Details
Provide the sum you want to withdraw and the recipient’s relevant account details.
Confirm the Transaction
Review all aspects of the transaction again and affirm it to proceed with the withdrawal.
Key Features of Payeer
Multi-Currency Support
One of Payeer’s competitive advantages lies in its custom-built multi-currency architecture, which makes it particularly useful for people who do international trade.
E-Wallet Functionality
Payeer is a versatile electronic wallet enabling people to keep and process funds in various currencies. It also allows payment-making, cashing out, and buying cryptocurrencies.
Global Accessibility
Using Payeer enables users to access their accounts from anywhere, courtesy of the internet, thereby eliminating the need for listing and facilitating cross-border transactions without the restraint posed by conventional banking services.
Funds Transfer
Sending money to other Payeer users or external accounts is a very straightforward process that can be done within seconds, which is perfect for remittances and quick money sending.
Cryptocurrency Integration
Users can buy, sell, and trade popular cryptocurrencies, all made possible by Payeer’s complete integration of d.
Instant Transactions
Cross-border remittances instant transaction in the instant transaction processing capability within the system for the benefits of payment or transfer.
API Integration
Payeer does this by providing an API so that developers can offer its features using apps or websites of other businesses.
Payeer Fees
Payeer has standard fees for different services and options offered to all users. Each cryptocurrency has its trading fee.
There are cases where the deposit fee is from 3.99%, which is determined by the payment system in use.
Regarding other deposit and withdrawal transactions, the company provided a range of costs and mentioned some charges.
Depositing cryptocurrency into the system does not attract any charges. A certain amount must be traded, which can be likened to a minimum fee to be paid.
However, when one wishes to deposit funds into the platform as fiat, a corresponding fee has to be paid.
This variation comes in because the system could accept direct digital deposits, and thus, those deposits had no cost.
There is a 1.99% fee associated with withdrawing cryptocurrency. Other than the said fees, no other fees are disclosed to the users, sometimes called hidden fees or additional fees charged.
The fee may look unreasonable because some local platforms charge less.
Even so, the fee, which Payeer has rationalised, remains reasonable as it provides a more complete package that removes the need to pay small amounts to several platforms. This way, users pay a marginal fee for only one such service.
Affiliate Program
Six levels of referrals, up to 25% off all transactions. Instant payments and a lot of withdrawal methods are available.
Payeer Mobile App
To make the usability of their website and the Adaptability of the PAYEER platform over other devices better, Payeer has developed a mobile app snap for both Android and IOS users.
This feature is optimal for users who would rather not be on their computers, especially when making payments or trading many times within a single day.
The application has other beneficial features, like paying via the phone using its camera to scan codes, which is impossible on desktops.
The mobile application uses two-factor authentication (2FA) to bolster security; furthermore, verification is also done through the phone in the app.
The security notifications are opt-in; therefore, users can decide not to receive them, but they risk the safety of their account.
User reviews of the App Store and Google Play ratings have been mostly positive.
As biometric features such as fingerprint authorization are introduced in smartphones, users do not have to remember passwords like before to access Payeer more conveniently.
Such advantages make the Payeer mobile application a popular solution for many people.
Payeer: Pros and Cons
Pros:
Variety of Currency Use: In transactions, Payeer is not limited to only major currencies, as it also accepts popular virtual assets.
Wide Availability: Covers more than 100 countries, thus making it easy for users to do money transfer solutions across borders.
Suitable anti-fraud measures: There is a two-factor authentication (2FA) and email alerting for account safety.
Mobile Application: An easy-to-use mobile application is available for download for iOS and Android, enabling transactions when the user is not on the computer.
Cons:
Too Many Restrictions in the US: Regulatory limitations prevent consumers in the United States from fully utilizing Payeer’s services.
Fees in some transactions are very high: Many transactions, including wire transfers and currency exchange, may incur high charges.
Verification Requirements: To achieve a higher transactional limit, users undergo a tiring verification process.
Response time for Customer Support: Although customer support is good, some users report hitches in response time for support.
Payeer Supported Currency & Countries
Since its inception, Payeer has developed and become one of the most popular e-wallet and exchange services in more than 100 countries.
It allows conversion into several fiat currencies and enables local payment systems with consideration of the user’s country.
While Payeer is present in most parts of Europe and Asia, it cannot be used fully in the USA because of the policies of some states.
Most U.S. people can only use Payeer by wire transfers, which makes it highly uncommon because of the high billed costs.
The platform supports significant cryptocurrencies such as BTC, ETH, BCH, LTC, and DASH, widening the trading possibilities for the clients.
Payment Security
Payeer originates from the concept of protection enhanced by the borders crossed by clients.
The service integrates two-factor authentication (2FA) to enhance user account numbers and protect private information.
This means that the users are presented with certain limitations about the money they can transact unless they complete the verification process, such as €15,000 worth of EUR transactions, achievable by non-verified users.
In most South Asian countries, Payeer is a very safe wallet. Also, they get email alerts whenever they access the account, helping them keep track of transactions.
Payeer Customer Support
It is not a mystery that the citizens are used to rendering support services efficiently. For help, customers can submit support tickets and expect a reply within one day.
The company can also give potential clients a physical address should they prefer to seek help at the company’s premises, and there are plans to help people or enterprises with special needs.
Conclusion
In conclusion, Payeer emerges as a flexible and highly secure platform serving a worldwide clientele.
It also supports several currencies,, including those used in cryptocurrency,, which companies and individuals use for various purposes.
Paying with cash is still a convenient option in today’s world, where there are benefits to cross-border payment establishments, even in countries actively enforcing laws concerning electronic crime security.
However, the marketplace has cells in places like the U.S., where operation is limited.
Nevertheless, its mobile application, diversity, and influential customer service position it uniquely in the market for financial services.
