Payza is a payments platform providing e-commerce processing, bitcoin exchange and payment services, wallet services, and funds distribution. And in light of the recent events in Turkey where PayPal suspended their operations there, Payza looks to focus on a new market that is need of help.
Payza provides a service to customers to buy and sell bitcoins online, making it a marketplace for bitcoin users. Payza, which is located in the United Kingdom, allows customers to buy bitcoins in US Dollars (USD) and Euro (EUR) using a variety of payment methods.
In an update from the payment company, they have announced that they have secured a new banking relationship that will now allow them to support transactions made using the Turkish Lira (TRY).
Previously, Payza members in Turkey made the majority of their transactions using the Euro. These members now have an alternative because they can hold, transfer, add and withdraw Turkish Lira using their Payza account. “These new options make online shopping and money transfers in Turkey more practical than ever,” Payza noted.
The move by Payza to add support in Turkey in replacement of PayPal comes on the heels of Coinbase announcing support for bitcoin-to-PayPal withdrawals on their platform, which is an interesting turn of events.