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ePayments

Information on the closure of a former online payment service. Learn about its past features and discover current, reliable alternatives for global payments.

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What is ePayments

Important Notice: ePayments has ceased its operations and is in the process of closing down. Customers have been instructed to withdraw all their funds.

ePayments was an electronic money institution based in London, United Kingdom. It was authorized by the Financial Conduct Authority (FCA) to issue electronic money and provide payment services. The company's main purpose was to offer a global online payment solution for individuals and businesses. Its core functions included providing EU IBAN accounts, facilitating international money transfers, and issuing prepaid Mastercard cards. The platform was designed for freelancers, affiliates, and businesses that needed to send or receive payments from around the world, especially for mass payouts.

ePayments Features

As the service is no longer operational, these features are not available. Previously, ePayments offered:

  • EU IBAN Account: Users received a dedicated European IBAN to receive SEPA and SWIFT transfers like a local bank account.
  • e-Wallet: A multi-currency digital wallet to hold funds in USD, EUR, and other currencies.
  • Prepaid Mastercard: A physical and virtual Mastercard linked to the e-Wallet for online and in-store purchases and ATM withdrawals.
  • Mass Payouts: A service for businesses to send payments to a large number of recipients simultaneously, which was popular in affiliate marketing and freelance industries.
  • Instant Transfers: Users could send and receive money instantly between ePayments accounts for free.
  • Currency Exchange: The platform allowed users to exchange currencies within their accounts at competitive rates.

ePayments Pricing Plans

ePayments has closed its business, so it no longer offers any plans. Previously, its pricing was based on transaction fees rather than monthly subscription tiers. Account opening was generally free for individuals. Fees were applied for services like bank transfers, card withdrawals, and currency exchange. Businesses had custom pricing for services like mass payouts.

ePayments Free Plan

There is no free plan as the service is discontinued. When it was active, ePayments offered a free personal account registration. Users did not pay a monthly fee for holding an account, but most transactions incurred a specific fee.

How to use ePayments

Since ePayments is closing, the only action for existing customers is to withdraw their funds. The company has provided instructions on its website for all customers to access their accounts and transfer their remaining balance to an external bank account as soon as possible. New user registration is not possible.

Pros and Cons of ePayments

Pros (Historical)

  • Provided a convenient way for freelancers and affiliates to receive international payments.
  • The prepaid Mastercard was a useful feature for accessing funds globally.
  • Free and instant transfers between ePayments users were beneficial.
  • Supported mass payouts for businesses.

Cons

  • The service is permanently closed. This is the most significant issue.
  • The company faced regulatory challenges in the past, leading to service freezes.
  • Customer support could be slow to respond during peak times.

ePayments integrations

ePayments no longer supports any integrations as the platform is shutting down. In the past, it offered integrations primarily through its API for businesses to automate payment workflows, but these services are discontinued.

ePayments Alternatives

For users looking for similar services to what ePayments offered, here are some reliable alternatives:

  • Wise (formerly TransferWise): A strong alternative for international money transfers, multi-currency accounts, and a debit card. It is known for its transparent fees and real exchange rates.
  • Payoneer: Very popular among freelancers and international businesses. It provides receiving accounts in multiple currencies, a Mastercard for payments, and tools for invoicing and mass payouts.
  • Revolut: Offers personal and business accounts with features like multi-currency wallets, international transfers, debit cards, and budgeting tools. It is a good all-in-one financial app.
  • Skrill: An e-wallet service that allows for online payments, money transfers, and a prepaid card. It is widely used in the online gaming and trading industries.

ePayments API

ePayments provided a developer API in the past for businesses to integrate payment functionalities into their systems. However, with the closure of the company, the API is no longer available or supported. All developer documentation and access have been terminated.

ePayments Affiliate program

Any affiliate or partnership program that ePayments may have offered is discontinued due to the company's closure. The platform is not accepting new customers, and all marketing and referral activities have ceased. There is no option to join a partner program.

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ePayments: Former EU payment service is now closed. Find alternatives. – SAASprofile