On August 1, 2017 ePayService payment system carried out legal organizational changes and split into ePayService processing center and two independent licensed financial providers: MTACC INC, Money Transmitting License holder and Check Cashing Permit in the USA; and MTACC LTD, the holder of the Electronic Money Institution License and the Payment Institution License in the European Union. Independent providers will operate in their jurisdictions and provide their users with financial services under the existing licenses. This change opens the possibility for ePayService to be further expanded by connecting third-party independent licensed financial providers of other jurisdictions, which in turn will have a positive impact on the volume and quality of the services provided.
Since August 26, the ePayService payment system is moving to a new version of the software. The update includes important changes in the operation of the service.
Binding wallets to jurisdictions
All wallets created within the account are attached to certain jurisdictions, which in turn allows you to optimize financial flows. The execution of all payment operations of users is performed by independent licensed financial providers.
Ability to create additional wallets
The new version of the software allows, if necessary, to create additional wallets in different currencies. At the moment, it is possible for all users to create up to 15 purses in USD and EUR, if necessary, this limit can be increased. The update opens the possibility for us to add new currencies, including for commercial exchange, previously unavailable for settlements in ePayService.
A separate group of wallets for digital currencies
After the upgrade, the wallets for digital currencies will be allocated to a separate group. At the moment, WMZ is the currency of the WebMoney Transfer system. In the near future, other popular digital currencies will be added to this group.
Changes in the merchant’s work
This update does not change the scheme of the merchants’ work inside the ePayService, but the option of additional wallets allows you to connect additional merchants and separate the funds coming from ePayService users.
Changes in the API for Payment Automation
This update entails minor changes in the operation of the ePayService API and affects mainly the work of internal translations in ePayService.
Improved design of the payment system interfaces
As a part of the update, there were changes made in our user interface in order to optimize the user experience of the ePayService payment system.
As of August 27, the transition to new software is in the final stage, at the time of receiving this mailing, access to accounts will be open, but withdrawal transactions from the system will be fully operational, starting August 28, 2017.
ePayService prepares for you even more interesting updates – stay with us!