About payza.com from coingeneration.com

Payza.com is no longer a payment processor of  coingeneration.com so the company had to settle some issues with its members to continue its obligation. The latest message of coingeneration.com about payza matters ;

Payza, Withdrawals and Recent Events

Due to the recent events with Payza, we find extremely important to keep everyone informed on what happened and what is going to happen in the next few days.

We have set a date for today, the 24th of July, for implementation of our own gateway for deposits and withdrawals without using a 3rd party, but due to negotiations with banks, we will have to extend this period until the end of this week.

Note that Digital Generation will have its own processing gateway AND 3rd party gateways, to suit your needs.

Payza refund request and Current Situation


If you bought threads since the 16th of July and you would like to request a refund of your funds, please address Payza through this link.

You can also read more information on how to do it, here.

Note that users who request refunds will be unable to withdraw any earnings until we receive a final answer from Payza.

Your account will be in a “frozen” state, in which you will still earn from the threads you have from previous purchases, but no option to withdraw will be available until the dispute with Payza is closed.

We do not want to cause Payza any problems with the recent events regardless of their actions in which could and would result in several million loss.

Recent Events

As of now, we are funding our accounts, and resuming pending payments requests for EgoPay and make sure every user is paid.

Make sure to check your e-wallet often.

Truly yours,

Digital Generation

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I dont have problems with threads and about payza.com from coingeneration.com

True to its word July 25 was the day that i saw the other payment processors on my back office, though there was no  cashout buttons  but in its place there was a link to transferring your available balance to  current balance,   its really a continues business with coingeneration.com

http://coingeneration.com/auth/new/125733/

With the image a new link button "transfer funds from available balance" was installed , so when you click on this your available balance will be transferred to your current balance.  It is a way now for coingeneration.com to raise funds for the site. Its also a way for members to earn more and buy threads.  For me , its ok  the single thread that i purchased is  still earning and i can purchase more threads or cashout in the near future.  It is more better " earning daily without doing nothing" than doing everything and earning nothing"  what do you want, if you think this is scam , i like this kind of scam. 

                                  Clicking on "Transfer funds from available to current balance : 

PAYMENT PROCESSORS 

latest problem on coingeneration.com

The first time i encounter  a problem about finances with coingeneration.com was  when i consulted my upline and inquire on him why suddenly i could not cashout with the site. It was in June 25/13 my upline told me that coingeneration.com was hacked by a person from Ukraine and stole an amount of about 80k on Payza account but there should be no worry because in a matter of 2 days i can cashout again. So i  was confident then , the matter was forgotten because its business as usual after a  few days. 

Now the latest problem on coingeneration.com again was about finances.  Payza.com is letting go of coingeneration.com. Here's the statement from website coingeneration.com; 

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 "We find it important to explain the situation with Payza and provide further instructions how to proceed with credit card payments. Below is the email we have received from Payza:

"In any relationship, it is important for us to know our clients and have confidence in their activities. Unfortunately, we feel that we cannot achieve the requisite level of comfort with you or the operation of your account. Therefore, after careful consideration we must advise you that we are not in a position to continue our business relationship with you. 

As we are no longer in a position to provide service to your business, we kindly ask that you transition to an alternate provider that may be better suited to meet your business needs.
Please know, our intent is in no way to hinder your business however we advise you to remove all Payza Buttons and Payza related references from your website. At this time, you will no longer be able to receive any more payments through Payza, all funds in your Payza account have been placed on hold, and access to your Payza account has been restricted.

All funds will be held for a probationary period of 180 days in order to cover against any and all reversals, chargebacks, disputes, and fines. You may contact us after this period for a full reassessment of any remaining funds in the Payza account."


At the present time we witness a situation where majority of members have purchased threads however we have not received actual funds from Payza yet. Taking into account the current turnaround we have resolved the following: All users that paid us through Payza will have their earnings blocked except for trial thread earnings. 

Blocked users have the following options available:
* Use another payment method to complete your transaction.
* Wait until we receive your payment from Payza.
* Request refund of funds from Payza.

We suggest members that used Payza to contact them directly to revert all made payments and use the direct credit card funding option instead. There are no guarantees we receive your funds from Payza therefore all recent deposits will be rejected.

Trial thread payments will NOT be affected in any way, please use another payment method to request payout of your earnings until we have our custom processing solution in place later this week.

We would like to apologize for this inconvenience and possible delays processing your requests at the moment.

Now the good news:

We didn't have a significant amount on our Payza balance, most important - WE HAVE THE FUNDS TO KEEP UP WITH PAYMENTS REGARDLESS OF NEW MEMBERS JOINING THE PROJECT AND WE'RE READY TO PROVE THIS AGAIN TO ALL. NO FUNDS WILL BE LOST. WE GUARANTEE THAT.

DG largest private PC network continues to expand steadily and our business operation will not be impacted by current situation. We're approaching new performance limit of the most powerful computing system and have taken the necessary measures to ensure proper operation of the company within difficult environments as well. Further details will be provided in our next update, our staff will be in chat room during the weekend to update on latest status of credit card payment facility.

Truly Yours,
The Management

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If i am to consider my status with payza.com i dont have a problem with the payment processor. I also have no problem with  funds being waited  from or to payza.com.  The problem i had now  with coingeneration.com  is that i still have not reach a break even with 1 thread that i had subscibe. And there is no longer any cash withdrawal button on the back office.  But as i have search on the chat room and coingeneration.com / forum  i had known that  the cashbutton would be back on July 24/13 , so we just have to wait for that.  

I also had input on my account profile my usernames for egopay.com and paxum.com , which are recommended by admin of coingeneration.com. 

  https://www.egopay.com/?16463

    https://www.paxum.com/payment/registerAccount.php?affiliateId=6054

IMPORTANT MATTERS ON THE PAYZA MATTER: 

1.  Based on the admin statement it looks they are proceeding on a credit card payments . 

2.   Payza's statement from my point of view is not comfortable working with coingeneration.com in the sense that they are telling DG that they dont know DG and are not comfortable with the sites activities ( i dont know what they meant). They are distancing themselves from DG. 

3.  Instructions were given for those waiting for their payments on or of coingeneration.com 

4.   Their good news was that they are assuring that they have the significant funds to keep up the payment. And also DG largest private PC network continues to expand steadily and our business operation will not be impacted by current situation

        

         

Review of the earnings from coingeneration

The last payment i received from coingeneration.com was last July 18, 2013 , i cash out $ 10.19 from Payza.com  but i only got  $ 9.69 because of the transfer fees from Payza.com.  Reviewing my withdrawals and  estimating what i should have earned since  my registration , i was wondering that there is something missing with the financial datas from the back office.  This is how i try to configure if there are inconsistencies ; 

Registration, download and Start of  thread software generation :     June 12, 2013

Start of  software operations  ( 1 trial thread)                                               :     June 12,  2013
Purchase of 1 new thread  subscription                                                         :     June  18,  2013
End of Trial Thread                                                                                        :     July  12, 2013

No Internet for a few days  (  July 5 - July 7) 

Estimate earnings / per day of  "Thread" subscription                                :     $1.02 

                              An Image of  Statistics and Payments from the system : 

                  Statistics shows earnings  June 13 - July 20  from Thread total = $ 52.678

Examining the statistics you can see start of earnings from thread on free trial, with start of thread subscription ,  no internet , end of thread trial and with referrals . 

It is also clear that $1.02 is not a regular earnings per thread from the start almost a week before it rose up to earn into a dollar. 

There is a big discrepancy with the available cash , account balance and with the total earnings. 

The image below are the cashout  since the start on June 12 to July 20, 2013 

Reviewing of the earnings with coingeneration is more better by cash flow system:

I found out that the balances is not that far with the available balance and the current balance of the backoffice.  My doubt that  balances are not right  was no basis.  Coingeneration.com is really paying and paying right .