Paytah Payment Solutions is a payment service provider with key offices in Malta. Paytah is actually a service owned and operated by Phoenix Payments Ltd., that is a licensed finance company in Malta.
Paytah.com works under the European Payments Services Directive, an authorized framework for safe and innovative payment across the EU.
The Phoenix Payments Ltd. has office spaces in Birkirkara, Malta, and is actually regulated under the Malta Financial Services Authority (MFSA). It’s wholly owned and operated by Fenice Holdings, that is registered in Switzerland.
It offers facilities for various kinds of services:
● peer-to-peer payments,
● credit card processing,
● payment accounts,
● recurring payments,
● Virtual IBANs
● Direct merchant accounts
● Prepaid and also debit cards; and also
● Alternative payments At what time was it founded?
Paytah began operations in November 2018 after obtaining its PSP license.
What technology does it use? How to be sure it is not a Marco Lavanna scam or fraud?
Paytah is actually one of the first transaction service providers that employ blockchain technology. This kind of technology comes with an audit trail during the transaction. This audit, in turn, cannot be modified and also secures the entire account from fraud. The companies and balances are protected from unauthorized adjustments.
The user ‘s registered device, the place that the wallet resides, is utilized to authorize transactions. Access credentials are transferred directly from one unit to the other with no intermediary or third-party intervention. This results in seamless transfers and documentation between wallet client and Paytah, and client pocket book to another wallet. The application of fiat currency and Electronic currency or maybe bitcoin is transparent and seamless.
As per Marco Lavanna, the founder of Paytah and Monetum business,, a blockchain account takes out the demand for the “Trust Factor” as an assurance to a transaction grounded on third party intermediaries. Payment passcodes are typically sent using SMS to people or perhaps other messaging ability to transfer Private Keys. In this way, the third party validation is no longer necessary because the wallet validates the transaction with the utilization of automated processes with the Private Key.
The use of blockchain as well as a Paytah wallet supplies transaction transparency not possible with conventional monetary transactions. There is no requirement for a third party financial institution or perhaps bank to support the trust factor necessary for a remote offer.
How important is actually this technology (blockchain) because of its processing?
Blockchain transaction processing supplies the users encrypted self-validating record keeping. With the use of an electronic wallet, users have a safe method of transacting company, transferring finances, and process payments. All transactions for an account live in a protected as well as encrypted electronic wallet.
Generally, record keeping calls for storing the details of every transaction. The information kept includes the volume of cash involved, the source as well as the recipient. It describes the flow of investment as it goes to purchase products and services, and the outflow as the cash moves out of the account. What differentiates blockchain technological innovation is the usage of the transactions on their own to encode the next operation.
The chain-like encoding secures the credibility and correctness of every transaction. Transactions can’t be modified or edited after these’re encoded in the pocket book. In case a prior transaction is actually revised, or even if a false transaction was put into the chain, the fraud can be easily seen because succeeding transactions do not match. The full wallet fails.
For merchants, blockchain know-how assures that no fake account would be created. Each blockchain transaction is produced at the form (with crypto mining), and each and every transaction depends on previous transaction encoding (or mined). The underlying technology keeps the transactions secure, and every other user safe as well.
For the end-users, there’s an extra layer of security. The wallet encrypts every single transaction it documents. This Private Key system ensures that activities can only be transacted with the usage of the wallet. Authorization is performed exclusively by passing keys to and from the finances.
Who benefits from this service?
Paytah clients include Malta companies with international and internet transactions. Online and international Malta businesses with large volume cash transactions normally don’t have ample support from neighborhood banks. Paytah handles internet processing for prepaid credit cards and alternative payment and debit cards modes.
Payment tastes from eCommerce transactions are varied from nation to united states. Paytah extends transaction processing for alternative payment methods. This allows online advertising businesses to provide services to the clients of theirs with a seamless integration of payment methods. This offers the eCommerce merchant the flexibility to offer payment methods which are actually handy to the customers of theirs and their funds.
What are the benefits of the service?
Paytah is a comprehensive payment service company, which caters to companies and individuals that are not being properly served by mainstream financial companies. There’s a desire for financial services, including virtual IBAN, prepaid card and debit card processing, strong merchant accounts, and others.
The application of blockchain technology leads to safer and faster transactions at a lower price to the user.
Is it a scam?
Paytah is a respectable service and is not a scam. It’s a service owned and operated personal by Phoenix Payments took in Malta. Fenice Holdings in Switzerland wholly own Phoenix. The offices are placed in Birkirkara, Malta.