Is Paxum Having Problems Again?

We got another email today about Paxum having trouble. Here is what the message said.

I’m so done with Paxum. All cards were suspended without warning. People need their money but Paxum has been mum on the matter. This is bullshit.

I did some digging into what he was talking about. It seems that people in Europe who have a Paxim debit card to access the funds in the wallet have been suspended without notice.

We reached out to a rep at Paxum for a comment, but as others have reported, no response has yet been given.

We did speak to another website owner who got an email.

“The use of your Paydek1 General Spend card issued by PayrNet2 has been suspended as of 17/06/2021 at 3PM (BST). This is because the agreement between us, PayrNet Limited, and Dek-Co (trading as Paydek) came to an end on that day.

It is important that you understand that you will not be able to use your card with immediate effect for any transactions. There is no further action required on your part.”

He then got another email directly from Paxum who said the following ….

We regret to inform you that, as a result of a change in risk appetite policy, our Paxum Mastercard issuing bank no longer desires to be connected with the adult sector and has decided to discontinue the card service.

We’re working on integrating a new card solution, but we don’t have a firm date on when it’ll be ready. In the meanwhile, you can use one of our other withdrawal options or your Unionpay card if you have one.
We also want to let you know that the fee for using the EFT withdrawal option has been reduced to $2.5/ transfer

Your Paxum Mastercard will be closed and the funds will be returned to your Paxum account.

They have now tweeted the following.

When Paxum be refunding the massive yearly fee they charge in advance for use of the card in the first place? Again we don’t know. They have yet to respond to us but I somehow doubt it. They didn’t when they cut off all US webmasters.

When brings us to the big question … Is Paxum still a viable payment source? That’s hard to say.

I for one closed my account with them when they started having trouble the first time. In the last few years, there have many far too many reports of issues to make me feel safe keeping my money with them.

But hey it’s your money. If you want to take that risk, it’s up to you.