In January 2013, Payza sponsored the e-commerce week in Dhaka, Bangladesh which ran concurrently with Dhaka Start-up week. Firoz Patel spoke at both events about his role as Executive Vice President at Payza and outlined his company’s prospective launch in Bangladesh. No mention was made of the Payza online scams which could be introduced as part of his plan. During his brief stay in the country, he spoke at several events and hosted discussions about his vision for the future of e-commerce in this emerging nation. He held long talks with the Deputy Governor of the Bangladesh bank, Nazneen Sultana. He also spoke to a representative of the main television service provider, Ekushey.
He spoke of his hopes and thoughts about the introduction of his payment gateway company to Bangladesh and how he would help bring their e-commerce sector up-to-date and in line with the rest of the world. He outlined his intention to avail his company to this fledgling sector with the hopes of building strong bonds with prospective clients. What he didn’t talk about were the Payza online scams that would start as well.
As an emerging market, most of the country does not have access to the internet which could also be said for the majority of the western world just 15 years ago. No one had heard of Payza online scams either! With the proliferation of smartphones and tablet computers, it is hoped that this situation will improve with the advances made in mobile telecommunication systems. After his meeting with the main service provider he spoke of his anticipation that the entire country would have a strong internet service within the coming year. He also offered his help and expertise in the hope of avoiding the “teething” troubles often associated with such a step. Secretly gloating at thoughts of the raft of Payza online scams that would inevitably follow!
Firoz Patel emphasized a few of the following points whilst conducting his forums: -
1. The younger generation is the key to the success due to their acceptance of new technology. This can be said for most countries and not just for Bangladesh. The younger generation embraces new technology more readily than their parents and computer studies are part of the standard curriculum in nearly all schools and colleges. This will help build a successful e-commerce sector for the intended online market place.
2. Payza believes that the strength of any company lies within its customers which can be said for all merchants who conduct business over the internet. The system needs to be user friendly and accessible to the vast majority of the country for it to be effective. With the help of the telecommunication service providers, this will be more than a possibility in the coming months.
3. Users need the confidence to use such a system and e-commerce should be intuitive and as simple as possible. Banks too need to know that their money will be safeguarded and they will not be susceptible to unnecessary risks. The public also needs the confidence to use an online payment system which is a whole new concept for most of them. Many of them will never have heard of the Payza online scams which have been happening throughout the rest of the world.
The challenges that face Bangladesh are: -
1. Infrastructure. The process has to be in place which will allow the flow of money to enter and to leave the country. There are no data centres set up to process this information at the moment, but as part of the expansion plans, several centres are being built to redress this situation.
2. Internet access is still spasmodic throughout most of the country, but the building of many new masts will change this situation within months.
3. The shipping of products from the heart of the country to international destinations remains one of the biggest challenges due to the lack of existing infrastructure. Again, this is due to change within the coming months. The need for a payment processing company to enable payment for these products is what Firoz Patel is offering with his Payza online scams.
International trade is steadily increasing with these Asian nations due to the relatively cheap production costs of manufactured goods. These suppliers need a payment gateway that can accept and make payments with ease. Other companies such as PayPal have very strict rules and regulations and therefore cannot offer their full range of services to merchants in Bangladesh. Payza has been designed to skirt around these regulations and advertise themselves as the chosen provider for financial services. More opportunities will arise for their Payza online scams.
Throughout the world, there is no central body that controls or monitors the international movement of money. Dealing with so many countries and their individual restrictions currently makes it impossible to govern. This is an ideal situation for Firoz Patel to exploit with his Payza online scams which have happened so often in the past with devastating consequences for those caught up in his fraudulent dealings.]
Many Bangladeshis find well paid work abroad and send money home on a regular basis to help support their families back home. The only way this can be achieved is by using a company such as Payza to send regular payments over the internet. What they don’t realise is the risk they are taking and the possibility of becoming a victim of Firoz Patel’s Payza online scams.
The Patel brothers exploit the relative lack of education for most of these migrant workers and rely on the ignorance of the government to the rules and regulations of online payment systems. Bangladesh is not known to have a strong voice at the meetings held by the International Monetary Fund’s committee.
When Firoz visited the country in 2013 it was to these people that he gave his promise of help to. As has happened so often in the past, this promise will not be kept.
The accounts will be allowed to operate smoothly at first whilst confidence in this new way of making payments, grows. After a few short months, the emails will arrive stating a breach in the terms and conditions and the resulting freezing of the accounts until a resolution is found.
The victims who are low paid and often uneducated will have no idea how to challenge such a large international company. If they manage to seek help from a bank worker or government official, it is highly likely that they will be unable to offer assistance in the refund of the lost money. Some officials are known to be as corrupt as the Patel brothers and will be ignorant to the Payza online scams.
Rupees, Dollars or Euros, the Patels do not care what currency it is as long as their Payza online scams continue to dupe their customers out of their hard-earned cash.
Payza frauds
