Payza (formerly known as AlertPay) was an online payment processor that provided services such as sending and receiving money, online shopping, and currency exchange. It was founded in 2004 by brothers Firoz and Ferhan Patel and was headquartered in London, UK.
However, Payza faced a number of legal issues over the years. In 2018, two of its founders, Firoz and Ferhan Patel, were arrested by authorities in the United States and charged with operating an unlicensed money-transmitting business, money laundering, and other offenses. The US government also seized millions of dollars in assets from the company.
In addition to the criminal charges, Payza faced a number of civil lawsuits from customers who alleged that the company froze their accounts and withheld their funds without proper explanation or justification.
As a result of these legal issues, Payza was forced to shut down its operations and filed for bankruptcy in 2020. Its website and services are no longer available.
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