October 01, 2014 08:00 ET

Payza U.S. Growth Mirrors Economic Turnaround

Company Expects Five Percent New U.S. Accounts to Be Opened by Year's End

MONTREAL, QC and NEW YORK, NY and LONDON, UNITED KINGDOM--(Marketwired - Oct 1, 2014) - Payza, a leader in online payment processing, released Q3 customer data that indicated it is on a trajectory to increase its U.S. memberships by 4.8 percent on an annualized basis. The company has added 30,000 American accounts in Q3 alone, bringing their totals in the U.S. to 2.5 million, representing slightly more than 20% of all Payza accounts worldwide.

In the second quarter the U.S. economy grew at its fastest pace in over two years with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.

The Bureau of Economic Analysis reported that the Real GDP increased at an annual rate of 4.6 percent in the second quarter of 2014 and is expected continue at a steady growth rate of 3 percent in the third and fourth quarters of 2014 according to the National Association for Business Economics

"At Payza, we've always placed a special focus on developing countries, but there's no question as to the importance of developed countries where we also have a significant portion of our business," said Firoz Patel, Executive Vice President, Strategic Partnerships and Corporate Affairs. "The U.S. economy is generally driven by consumer spending so we're not surprised to see an expansion in our U.S. wallets. When we announced expanded services in the U.S., we expected a healthy bump in new sign-ups. The actual numbers were higher than we had expected. Of course, we're pleased to see significant new sign-ups in the U.S."

During the past nine months, Payza has introduced several new products to its list of merchant and consumer offerings for members in the U.S. and worldwide. Recently, Payza made eGift Cards available in the U.S., giving American members access to retailers such as The Home Depot, Foot Locker, Dell and many more. The company implemented an automated instant account verification feature, making it faster and easier for U.S. members to verify their accounts. Payza members are also now able to purchase Bitcoin, the popular virtual currency, directly from Payza using funds in their accounts.

About Payza
Payza is a leading online payments technology platform used by licensed entities around the world.

Payza's highly secure 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 millions of 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 the company's blog.

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