Top Paxum Alternatives

Of many payment service providers, Paxum is a known Canadian service working since 2007. With time, Paxum has drastically improved and upgraded their UI to include faster and reliable money transfer methods. Many freelancers and contract-based companies use Paxum for their payrolls.

Paxum Account Types and Services

The first step before using Paxum is to create an account on their website and link it to a bank account. Once the verification is done, you can begin using their services. Paxum has two main account types, viz., Personal Account, and Business Accounts. Each account has its own usage and target audience. As for Personal Account, it is designed for personal payrolls, send/receive payments, EURO/USD payments, withdrawals, etc. In the Business Account, there is additional support for mass wire transfer, EFT, reduced payout and has cheaper transaction rates.

The payment and charges structure is different in both accounts and also differ based on countries. Paxum has divided its services into three core parts viz., Transfer Money, Receive Payments, and Mass Payouts. Each service has its own bonuses.

In the Transfer Money services, Paxum adopts wire transfers, EFT transfers, P2P, and also provides backing for various cards like Visa, Mastercard, or Paxum Prepaid Card. This Wire transfer covers over 200 nations and 14 currencies. EFT transfer has much cheaper charges comparatively. However, it is mandatory to use a local bank in a local currency format. Paxum Prepaid Card uses similar features like normal prepaid cards. It is accepted worldwide and offers currency support only for USD. You can even add this card in online transaction services and use it at every ATM where Mastercard is supported.

In Receive Payment Services, a transfer is possible via Paxum Clients, ACH network, wire transfer, and virtual SEPA account. Similarly, in Mass Payouts, P2P transfers, along with the above modes are available. The online portal in Paxum is simple, and they even allow an API for external use. Mass transfers have lesser transaction and service charges.

Overall, Paxum has worked out pretty well so far in online payments. There are some prevalent issues with customer support and reliable knowledge resources on their site. Still, it has cheaper charges than other top payment services.