Ego-system: EgoPay payment system review

The market of electronic currencies and payment systems is full of offers. Their high popularity is formed by the emerging needs of the market as a whole, as well as its individual members. And this need for is based on the lack of a reliable and convenient tool to perform various transactions in the Web.

History of creation

The creation of this system was kind of a specialized project, and the specialists of the team, which developed the Canadian payment system Payza, formerly AlertPay, were working on it. The system started working in July, 2012 and is registered in Belize.

It is supposed to work as a separate independent payment system that operates in a particular sector. But in fact, it is rather a subsidiary of Payza, which, however, occupies a strong position in the market.

Why was it necessary to create a separate entity with similar orientation?

As can be noted, the system EgoPay specializes in providing a standard set of services, which are typical for almost every payment system:
• Input / output of money;
• Currency exchange;
• Transfer funds to the accounts of other users;
• Payment for purchases (goods, services), etc.

So, regarding that nothing new is offered. But the thing is that the Canadian company Payza has decided to outsource part of its operations to its branch represented by EgoPay. And the main advantage of work with EgoPay lies in this orientation.

The fact is that in mid-2012 Payza, which was quite popular, decided to stop working with high risk investment projects (HYIP) like MLM, various financial pyramid schemes, etc. Thus, the orientation of various projects was transferred to the alternative payment system EgoPay. EgoPay that was registered in Belize, has no problems with the law in regard to many projects that are not welcome in some countries, but are very popular.

Working with accounts and payments in the system

Registration in the system is very simple and does not differ from other similar systems, such as Payza, for example. The user must enter the email address, which then becomes the account number in the EgoPay-system. Thus it makes it easier to work and communicate with other users.

Registration begins immediately after pressing the “Create EgoPay account” button. A distinctive aspect at the moment of registration is the fact that the system immediately offers to choose your account type – “personal” or “business.” Here it is necessary to consider your needs, but in most cases it is better to choose a “personal” account, because it has less fees. Afterwards the user can change the type of account at any time.

There are some standard requirements for the registration: quite long and complex password and PIN code, which consists of 5 characters. After specifying the data and filling out a form, you can finish registration.

Among the positive features of the system it’s necessary to note the following:
• Quick process of any transaction of any type;
• The system of private purses;
• A simple way of depositing and withdrawing funds from the account;
• High security.

Thus, the system is suitable for online shopping, payment for services and money transfers to friends and family, because it is faster and cheaper than to do the same by mail or by bank transactions.

Some clients use EgoPay to optimize their tax operations, as the system sends less data to various government agencies. In addition, through this system it is more favorable to conduct large transactions, so many companies that do business on the Internet, prefer this payment system.

Anyone over 18 years old can open his own account in EgoPay. It does not require proof of identity, but in the future it may be required to send a photo and home address from the passport.

Account deposit and withdrawal

At the moment, there are several options for the account refill. It is possible to do it in the following ways:
• Direct transfer from Payza;
• Credit card;
• Bank transfer;
• Using other payment systems.

To withdraw funds there are similar options, so each user can choose the most appropriate option for him. The EgoPay detailed list of possible methods of payment and reliable exchangers, that you can work with without fear for the safety of your own funds, can be found on the official website of the payment system.

At any time, the user is able to delete the account. But we must remember that it cannot be restored, so, if necessary, you will have to create a new account.
There are 3 types of accounts in EgoPay system:
• Personal;
• Business;
• Exchanger.

It should be mentioned that earlier, immediately after the start of work, the possibilities of the payment system were limited. In particular, this was due to the fact that not many exchange services used to work with the system. You could even say that the main and most popular of them did not use to work with EgoPay. As a result, the commission for withdrawal was quite high. Once the largest e-currencies exchange company WM-Center began working with EgoPay, the situation has changed radically. Users got more convenient conditions for working and making good deals that immediately expand the audience and scope of the payment system.

It should be mentioned that WM-Center knowingly considered to be one of the best exchange companies, and it is manifested not only in favorable conditions, but also in its excellent service. In particular, clients can count on around the clock technical support, which is provided in many languages, including Russian. And transactions are made in different currencies: dollars, euros, rubles. So, EgoPay has benefited from cooperation with this partner, and it beneficially affects the customer as well.

Protecting your account

Modern payment systems have to meet high requirements in the field of protection of funds and personal data, and EgoPay is no exception. The system is registered in Belize and is working on some private servers that have implemented advanced security features. However, users are mostly more interested in the protection of personal information and high quality service.

It should be mentioned that professional team, which previously had had experience in projects such as MoneyBookers, Payza, Liberty Reserve and PayPal worked on the creation of the payment system EgoPay, so they have a rich experience in the field of electronic security, which is combined with a convenient service.

The first level of protection of personal account is password protection and a special PIN that the user creates himself at the time of registration. Each time you need to access your account, you must enter the exact password and PIN code.

The second level of protection is a system that is sensitive to the change of IP-addresses. In fact, each account is tied to a single IP-address. If it is suddenly changed, then a special letter comes to the email, which requires confirming that it is you who is trying to log on to your account.

The system interface

If we talk about the interface of the payment system, it is generally very simple and concise, but it has its own style and features. Developers have tried to make it the way that any user would be able to figure out how to use it. They were surely able to do that, and those who have ever worked with similar systems can determine exactly where to go.

Right on the main page, there is a large highlighted button “Create EgoPay account”. And it is not difficult to guess that it is meant to create an account in the system. More than that there are other basic items there, such as buy, sell, transfer, etc. Among the markers there is the item FAQ, which has answers to the most frequently asked questions.

It should be noted that the system gives some tips and tricks, trying to adjust to the different categories of users, depending on their goals and objectives. As a result, using of EgoPay is easy and safe, and it takes just a few minutes to make out with all the nuances. If necessary, it is possible to contact the support, which is always ready to help in various matters.

Conclusion

For the last year the system was able to gain popularity around the world among various categories of users. Given the fact that an experienced development team worked on its creation, we can be sure of success and high quality of it. Also note that the main goal of the creation of EgoPay system was to shift some operations from the main system Payza to the affiliate, which is another proof of the fact that EgoPay is not a new and risky company.

But at the same time it should be mentioned that the development of the payment system directly depends on the various Internet companies, and in particular those who specialize in MLM, pyramid schemes and other risky investment projects to ensure a significant profit.

However, it has already been done much to improve the quality of service – for example, the support of the exchange company WM-Center has been added. So, we can hope that EgoPay will have a decent future.
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