Add Paxum - Multi-currency payment method

[pazza83]

Paxum - Multi-currency

Paxum Website Paxum Fees Paxum e-Wallet Terms of Use Paxum Twitter Paxum blog

Background

Paxum is a Global Payment Service for Businesses and Individuals.

From looking at other websites it appears that Paxum are a popular payment provider to high risk industries such as OnlyFans users and affiliate marketers.

Why

Paxum is a multi currency payment option that might provide suitable services for users where they struggle to get access to financial services for their trading activates. Paxum is used my almost all P2P exchanges, however, they buying / selling crypto is against their terms of service.

Region

50+ Countries

Check out the map by hovering over the regions to see what countries they operate in: https://eu.paxum.com/services/transfer-money.

Currencies

20+ Currencies

Virtual payment accounts (SEPA, ACH and Faster Payment accounts) provided for EUR, USD, and GBP

Chargeback risk

Low the terms states that they only release cleared funds so chargeback / reversal risks are low.

Size of user base

Unknown but they have been around for around 10 years.

Duration

Paxum to Paxum transfers are Instant.

Fees

Paxum to Paxum transfers cost ~$0.25 to both send and receive.

It costs about $5 to deposit and withdraw funds from to Paxum. More, up to $50m if you are not able to use local bank transfers.

Fraud risk

Low

How payments are made

Money can be sent to other users with just an email address.

Payment amounts

I cannot see any mention of specific limits therefore I would suggest it would be ok for 0.25 BTC limits.

[RififiCastorjunior]

It's to expensive to exchange with this one. "Western Union" take less fees. it's a great product outside of that

[pazza83]

Thanks for the feedback. I agree it it an expensive option but it is less expensive than what SWIFT will be and it is more immediate.

[pazza83]

Paxum has been scored for inclusion to Bisq:

Essential	Desirable	Definite No’s
Very low risk of chargeback	No risk of chargeback	< very low risk of chargeback
Way to verify the sender in the received payment	Way to verify the sender in the received payment and ability to enter a reference	No way to verify the sender in the received payment
Trade time less than one week	Instant payment	Trade time more than one week
Singular Fiat currency	Multi-currency	Not a payment method for fiat currency
Significant user base	Large user base	No significant user base
High usability	High usability and great user experience	< high amount usability
No KYC for sending / receiving payments required	Allows users to trade with upmost privacy. Minimal identifying information as possible (no names, email, phone etc required)	Some KYC required for payments (proof of address, ID, selfie)
Low risk of scam attempts	Trades are as safe and secure for as many users as possible	< low risk of scam attempts
Traders can provide evidence of payment / receipt	Traders can provide evidence of payment / receipt and Verification of payment can be made using PageSigner or similar	Traders will be unable to provide evidence of payment / receipt
Minimum limit at least equal to at least account limits protocols	No minimum limits	Minimum limit not able to achieve account limits protocols
Maximum limits equal to at least 0.01 BTC	Large payment limits up to 2 BTC	Maximum limit is less than 0.01 BTC
Likely to increase liquidity	Likely to open markets for different countries and currencies	Likely to decrease liquidity
Low risk of mediation	Very low risk of mediation	< low risk of mediation
Low risk for traders from government agencies	No risk for traders from government agencies	< low risk for traders from government agencies
Fees should not be a barrier to trading	No fees for transactions	Fees will be a barrier to trading
Only minor changes needed to trade protocol	No changes needed to trade protocol	> Minor changes needed to trade protocol

Score: 32/32 Percentage: 68.75%

[pazza83]

Paxum - Proposed National Currency Payment Method

I am proposing that Paxum be added as a national currency payment method.

@refund-agent2, @huey735, @leo816 please let me know if you have any questions as to how Paxum will be mediated / arbitrated. If you have any objection please let me know by 31 May 2021.

---

Date proposal being made: 02.05.21 Date feedback to be provided by: 31.05.21

Name of payment method: Paxum

Required fields (eg)

• Email

Currencies accepted

• [ ] USD

• [ ] CAD

• [ ] EUR

• [ ] DKK

• [ ] CZK

• [ ] AUD

• [ ] ZAR

• [ ] THB

• [ ] CHF

• [ ] SEK

• [ ] RON

• [ ] PLN

• [ ] NZD

• [ ] NOK

• [ ] INR

• [ ] IDR

• [ ] HUF

• [ ] GBP

• Maximum trade duration: 24 hours

Signing required: No

Bisq Limits: eg 0.25 BTC

Trade window: 24 hours

Payment method limits: not aware of any

Any relevant information for users: None

Screenshot of expected GUI: TBC

[pazza83]

Here is the XD for Paxum, this should be straight forward to add:

[ghost]

Typo: EDR not a valid currency => should be IDR.

[pazza83]

Typo: EDR not a valid currency => should be IDR.

Thanks made the edit

[pazza83]

Wiki completed https://bisq.wiki/Paxum