Troubled financial services provider Payday has issued a statement outlining steps it is taking to address issues related to Mastercard transactions on its platform, with a primary focus on safeguarding its users’ financial security.
According to Payday, all cards affected by these issues have been deactivated, and any outstanding balances have been transferred to customers’ digital wallets. The company is resolute in its commitment to improving the overall user experience and wants to assure its customers that their funds are now secure.
To facilitate this process, Payday has streamlined the procedure for downloading Mastercard statements, which involves the following steps:
- Open your Payday mobile application and locate the “§» icon in the top right corner.
- Simply click on the download button, then select “Cards” and specify your preferred time frame.
- Choose “Mastercard,” and the statement will be promptly sent to your email.
Payday also encourages customers with further questions or concerns to utilize the convenient in-app chat feature, offering a direct and expedited resolution to any potential issues.
Read Also: Payday CEO Blames Glitches Amid Fraud Accusations
The Genesis of the Payday MasterCard Withdrawal Issue
The recent Mastercard withdrawal issues with Payday started gaining attention on Monday, August 21st, when the popular Twitter account @PIDOMNIGERIA made allegations against Favour Ori, the founder and CEO of PayDay. The tweet accused Ori of illicitly obtaining funds from Nigerians and others across Africa using his app.
These allegations included claims of “dubious exchange rates,” imposing restrictions on fund withdrawals and transfers, rendering customers’ funds inaccessible, and a lack of responsiveness to customer complaints. Notably, these accusations weren’t the first of their kind, as numerous impacted customers shared their experiences in the tweet’s comments section.
Several weeks prior, Payday had terminated its partnership with its USD Mastercard provider, resulting in complications when attempting to withdraw funds from the cards. The financial company acknowledged that such issues had been successfully resolved in the past but had extended beyond their expected timeline on this occasion.
Approximately two months earlier, Technext published a report following an investigation into a series of customer complaints. These complaints revolved around customers falling victim to scams while using the platform, resulting in unauthorized deductions from their accounts or discrepancies in their displayed balances.
Regrettably, these affected users did not receive any compensation or reimbursement from the platform, despite the unauthorized nature of these transactions. One source, who was both a user and a cybersecurity expert, claimed that the app suffered from numerous glitches and bugs that affected its functionality.
In response to these recent allegations, Payday has taken steps to address the concerns regarding account limitations that many customers have faced lately. In a statement Favour Ori explained that these negative experiences were primarily due to technical challenges with the company’s service providers, which, in turn, impacted the quality of services provided by Payday.
Read Also: Moniepoint and PayDay Deny Acquisition
Customer Reactions to Payday’s Statement
Despite Payday’s statement, some of the financial service provider’s users remain perplexed. For example, a user known as (sirOdiong) reported that his final account balance was $31.87. Initially, he received a refund of $0.11, and after reaching out via email, he was informed that the refund process was ongoing. However, he recently received an additional $0.11, leading to concerns about discrepancies in his account. He is now requesting that the company investigate and rectify the situation for clarity.
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