PaySpark's corporate policy is based on two very strong pillars: safety and credibility. Online fraud is one of the biggest challenges facing secure online funds transfer companies and online shoppers/merchants alike. This is why PaySpark has invested a lot of time and capital into the security of their service. PaySpark caters for the shopper to merchant market, as this is a very large chunk of the e-commerce market. Credibility is of paramount importance for a company to survive - especially when it comes to dealing with the transfer of large sums of money.
There is nothing spectacular about the signup process when opening a PaySpark account. By keeping things relatively simple compared with other secure online funds transfer companies, PaySpark has gained the trust of thousands of online merchants and millions of online shoppers. The differentiating factor in the signup process is the Due Dilligence document which must be supplied along with a valid identity document and utility bill as proof of address. The utility bill cannot be older than 6 months. Although this may seem like quite a lot of paperwork, these extra steps have allowed PaySpark to keep an impeccable safety record.
The PaySpark database is protected by the most stringent security measures. This means that there is no leaking of information so that customers can rest assured that all personal information stays where it should. In such a cut-throat industry, any negative publicity could land a sickening blow to a company's credibility. This is due to the fact that word spreads extremely fast within the online community.
PaySpark account holders can shop online, transfer funds and gamble online with relative ease and peace of mind. If a customer wishes to view any account statement, this service is free of charge. Accounts can be topped up with the use of a credit card, Western Union, wire transfers or PaySpark ATM accounts.
Online shoppers who are interested in signing up with PaySpark will be pleased to know that the signup process is free. Furthermore, unlike many other companies, there is no minimum cash amount that has to be in the account before it becomes active. This is completely up to the customer. Provided that the account is used, there are no admin fees. This means that regular online shoppers especially would benefit from opening a PaySpark approach. Signing up with PaySpark is completely free of charge. There is also no minimum amount of funds needed to activate an account. As long as the account remains dynamic, no administration fees are charged. In order to curb unnecessary administration in the form of dormant accounts, a fee of $10 per month is charged on accounts which have remained unused for three months. Account holders who hold a balance of greater than $500 can expect to gain 2% interest per year.
PaySpark positions itself more as an online bank than a middleman. Its safety record and added value services are what make PaySpark a strong player in the online market.