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Comments
Their website doesn't scream: "Trust us with processing payments" ( https://perfectmoney.com/ )
Located in The Autonomous Island of Anjouan? (Per website footer)
I mean, it may be all good and fine. Just haven't heard of them or had any requests to use them.
They've been around for years. Interesting independent payment system, but not very used for some reason. Could have successfully replaced Paypal
Very old payment processor. They successfully avoided money laundering charges for years. It is good.
Wikipedia article for "Perfect Money" in only in Russia.
That's why you've never heard about it.
https://ru.m.wikipedia.org/wiki/Perfect_Money
Since 2013, it has stopped serving US citizens and companies
Any US provider won't be able to accept it.
We got a few clients paying via PerfectMoney.
Less fees.
I use on daily basis its good payment system never had issue
Then there was a very famous story when the US government shut down one very popular independent payment system and imprisoned the owner. Then many payment systems and banks refused to accept clients from the USA.
True. Liberty Reserve
Then suddenly perfectmoney popped up and got more known
Yes. This system was very popular in many countries back then. Depositors ended up losing thousands of dollars. Accounts were blocked and money was embezzled. After that, similar payment systems were closed to US citizens.
DYK your funds in PayPal / Venmo / CashApp balance aren't protected by FDIC, unless you have received a direct deposit or requested a debit card?
They too can close your account and steal your money at any time.
Perfect Money is like PayPal but a Russian version. Before the existence of cryptocurrencies, they were very popular among users who could not have a PayPal account. There is no problem regarding security and use, if your users need it, you can add it.
Is it like PayPal? I noticed they have crypto as well. How does it work?
The main difference is that they can be deposited through any exchange system in Russia and other countries, which many people have successfully used. Just like Liberty Reserve before.
PayPal can't be funded from outside. Only from your linked card. The system is locked only for itself. Exchanges are prohibited by PayPal policy.