July 09, 2013 08:30 ET

Payza Names New Chief Compliance Officer

Payments Industry Expert to Lead Global Risk and Compliance for Company

LONDON and MONTREAL--(Marketwired - Jul 9, 2013) - Payza, a leading global online payment platform, has named Ferhan Patel to Chief Compliance Officer and Director of Global Risk and Compliance. In his new role with the company, Patel will oversee the Risk, Fraud and Compliance Departments, and be responsible for the company's AML/CTF, Compliance, Fraud and Risk Mitigation policies.

Prior to his new position, Patel led the company's product development strategies, marketing operations, strategic alliances and new market opportunities. He was influential in leading Payza to win the 2013 Paybefore Award for Outstanding Newcomer in Prepaid/Emerging Payments category.

"Ferhan already has a thorough knowledge of our product design, which means that as Chief Compliance Officer, he can bring a unique perspective to both our emerging products and our global policies," noted Payza's CEO Alastair Graham. "His active involvement in our overall product lifecycle ensures that compliance is built in from the beginning and not bolted on. In addition, he will also see that the customer experience is still addressed at every stage, and we see that as a significant advantage in the market."

"Finding the right balance between compliance and usability permeates to the very core of our industry," Patel explained. "Our customers want the highest level of protection with the least amount of intrusion. In order to keep the customer experience at the forefront of our offerings, when we request information from our customers, we must keep in mind how this affects our customers. Customer experience necessitates that our behind-the-scenes departments, meaning our AML/CTF, Fraud and Risk units, communicate and cooperate internally, rather than reach out to potentially impose unnecessary or duplicate demands on the customer. Therefore, when we design our products and our policies, we have to include the customer experience, which can only be done by incorporating compliance at every stage of development."

About Payza

Payza is one of the world's leading global online payment platforms specializing in e-commerce processing, corporate disbursements and remittances. Payza's highly secure e-wallet platform provides businesses and consumers with convenient and flexible solutions for sending and receiving payments worldwide. The company offers access to payment services in both traditional and emerging markets, as well as a host of tools and services including: fraud screening, dispute resolution, currency exchange, global payouts and disbursement services. With 10 million members, Payza offers its services around the world in 21 currencies, and is proud to provide its merchants around the globe with a complete solution for accepting payments and managing their businesses. More information is available about Payza on its website,, Facebook, Twitter and on the company's blog.

Contact Information

  • Contact:
    Gary Thompson
    Clarity Communications for Payza
    415-963-4082, ext. 101
    Email Contact