VardexPay payment system – what it is, where it works

Features of the platform

The project team strives to create the most convenient and safe application for money transfer. Private data (card numbers for payment and CVV) are transmitted through a secure channel. Users can store fiat, cryptocurrencies and accept any payments.

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The VardexPay platform has the following features:

• Registered in Lithuania. The legal address and license number can be found in the user agreement on the official website.
• The account can be accessed through the website or mobile application (iOS, Android).
• Modern encryption methods are used to protect data.
• The fiat balance can be replenished in rubles, dollars and euros.
• Mass transfers and a terminal for accepting payments are available to entrepreneurs. The service is connected via API.
• If the amount of transactions is up to $5 thousand, it is possible not to pass KYC.
• There is no commission for deposit and withdrawal of funds.
• Real-time statistics are available.
• In the referral program you can get 3.5-10% of the company’s profit for each new user.
• Residents of Europe, America and Asia are provided with cryptocurrency cards for offline and online payments upon request.

VardexPay services

To get started, individuals must specify their full name in their personal account. If the client does not plan to make transactions for large amounts (over $5 thousand), it is not necessary to verify the account. After passing KYC, users will be able to withdraw any amount. For the registration of a legal entity account, the following data will be required:

• Company name or sole proprietorship.
• Website address.
• Description of the business.
• Full name of the manager or authorized representative.
• Country of registration and legal address.
• E-mail and cell phone number of the contact person.

After completing the questionnaire, the company’s representative must undergo KYC and confirm that they are acting in their own interests. Operators will verify the data and open access to the full functionality of the platform. A verified business account can:

• Open accounts in any available currencies.
• Make transfers.
• Convert funds.
• Pay for purchases.
• Accept payments on their website.

Currency exchange

Users can convert assets within the system. Developers strive to make the most convenient resource, so they set a minimum of restrictions. To exchange cryptocurrency or fiat you need to:

1. Open a wallet in two currencies. You can use all assets presented on the site regardless of citizenship.
2. Replenish the deposit in a convenient way. Crypto transfers, bank cards, EPS are available.
3. Enter the personal cabinet and select the item “Exchange”.
4. Mark the assets and enter the amount.
5. Confirm the operation.

The exchange is performed instantly. All possible commissions are taken into account in the exchange rate.

Deposits

Users do not receive income for simply storing funds in wallets. To earn money, you need to choose a tariff plan and block assets. During the term of the transaction, it is impossible to withdraw funds. If the client can not determine when he needs money, he can open several deposits for different terms.

In May 2023, the following programs are available:

• “Stable”. The term – up to 3 years, the minimum amount –1 thousand rubles. The rate depends on the duration of the lock-in, the maximum is 7.5%. In case of early withdrawal of funds, the client will lose the accrued interest.
• “Profitable beginning”. The deposit is opened for a term of up to 181 days. The interest rate depends on the duration, maximum – 7.5%. At any time to apply for early termination. In this case, the client will be paid all income except for the last day.

Services for business

VardexPay payment service offers a wide range of tools for legal entities and individual entrepreneurs. For business development, it is important that clients can use several popular payment options (cards, EPS, cryptocurrencies). Such measures can increase sales and allow you to quickly recoup the cost of connecting a VardexPay terminal.

Large customers can contact the support service to agree on individual terms of cooperation.

The set of options for entrepreneurs includes:

• Replenishment of the account without commission in more than 50 ways.
• Mass payments (e.g., for paychecks). EPS in rubles and dollars, crypto-payments and bank cards Visa, Mastercard, Mir are supported.
• Accepting payments on the site. Integration is configured through the personal cabinet. All popular methods of calculation are available.
• Clients with more complex systems can customize integration independently via API.
• Reporting and analytics. Users can view statistics in the personal cabinet and generate summary tables.

Registration

The process of creating a wallet is maximally simplified. The instructions are as follows:

1. Go to the official website or mobile application.
2. Select the menu item “Registration”.
3. Enter your e-mail and password.
4. Confirm the account with the code from the email.

By default, clients are subscribed to the VardexPay newsletter. To unsubscribe from receiving materials, you need to click on the corresponding button in the email. Verification is required only for large transactions. However, the company works in accordance with international norms and conducts AML checks. Employees have the right to request documents and ask to verify the account, and in case of refusal – to block the wallet.

Account replenishment

Deposit can be made in rubles, dollars, euros and cryptocurrency – without commissions. Funds will appear on the balance instantly, but in some cases (for bank transfers) this period can be increased up to 6 days. To replenish the account will be required:

1. Log in to the personal cabinet.
2. Go to the purse of the desired currency.
3. Press the “Refill” button.
4. Choose a payment method and fill in the transfer data.
5. Confirm the payment.

Currency withdrawal

Users can transfer money from VardexPay account to personal crypto wallets, EPS (YUMANI, WebMoney, Skrill, Perfect Money). In May 2023 there is a promotion – free sending of funds for all customers. In the future, commissions will be introduced. The amount of fees depends on the status of the client. Up-to-date data can be viewed in the personal cabinet. To withdraw assets, you need to:

1. Go to the personal cabinet.
2. Open a wallet in the desired currency.
3. Press “Withdraw”.
4. Confirm the operation.

The term of execution of the application for withdrawal to bank cards is 30 minutes. In some cases, the time can be increased up to 24 hours. The status of transactions should be viewed in the “History” section.

Tariffs

The payment service was launched in early 2023 and is just beginning to expand the partner network and earn a reputation with customers. The platform does not charge a commission for account creation and maintenance. To attract new participants, the service does not charge deposit and withdrawal fees (for the duration of the campaign). In the future, some payment systems may set commissions.

Up-to-date information can be tracked on the page “Tariffs”. The developers inform that different conditions (commissions, limits) apply to different types of wallets (business, personal), as well as the status of the client (KYC).

Support service

The service is available in Russian, has an intuitive interface without unnecessary details. The company is focused on quality service for clients. You can contact the technical support with any questions and suggestions. The request will be processed in a short period of time. Users can contact support through several channels:

• The form on the official website. You need to leave contacts, specify the topic and describe the problem in detail.
• Online support chat. This is the fastest way to get feedback. Operators work around the clock, the response time is no more than 15 minutes.
• By phone in Russia, Turkey, Lithuania, India. Operators answer in Russian and English.
• By e-mail. You can write to technical support or marketing department.

Loyalty program

VardexPay is a new project. The team offers partners a generous reward for attracting participants. The size of the bonus depends on the number of referrals. Details – in the table.

Affiliate link can be found in your account on the “Referral Program” page. Bonus is paid to VardexPay wallet in rubles. In your personal cabinet you can view the statistics of accruals and order a payout.

Conclusion

The e-money market is one of the fastest growing segments. According to the Central Bank, in Russia from 2017 to 2021 their turnover increased from 281 billion to 1135 billion rubles. UMopeu has calculated: e-wallets rank 3rd in popularity after bank cards and Pay services. More than 48% of Russians pay for daily purchases with their help. Therefore, in order to develop their business, entrepreneurs need to set up online gateways on their websites and provide customers with different Pay-systems.

With VardexPay, companies can set up widgets for settlements in all popular ways. Frequent customers of the platform store cryptocurrency and fiat in one interface, receive transfers, pay for purchases and earn deposits. VardexPay uses modern security systems to protect personal data (SSL protocol, crypto encryption). This guarantees the safety of using the platform.