LavaPay Banking

LavaPay is a payment solution with a strong focus on the Russian market. Currently, the company’s clients include mobile, internet and TV providers, online gaming industry sites, social networks and dating communities, as well as Forex markets. Other than its popularity, let's see how the system works. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.


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LavaPay

How It Works

LavaPay is probably best known for its Bitcoin and Litecoin e-wallet. However, this is not what LavaPay is all about. In fact their main focus is on all-in-one payments, meaning that merchants who choose to incorporate LavaPay on their site get the benefits of over 120 different payment options, including credit cards and SMS payments in more than 200 countries. LavaPay also offers a variety of prepaid credit cards as well as virtual cards for its customers.

LavaPay's e-wallet works as any other e-wallet in the business. You can deposit funds to your account and use the cash to purchase goods and services. Signing up is really easy and takes only a matter of seconds.

Security

For peace of mind, LavaPay's merchants receive anti-fraud protection from the company itself. Other than that, LavaPay fails to mention their security solution. They do have a ton of different legal agreements, but these are there to protect their interests. For what it's worth, their e-wallet is protected with SSL encryption and digging around the web also doesn't result in any signs of fraudulent behaviour by LavaPay. Furthermore, they do claim to be compliant with Payment Card Industry (PCI) standards. On a down note, there have been instances where different deadlines haven't been met.

Overall, these kinds of solutions are good, especially if you don't fully trust the merchant whose services or goods you want to purchase. As such, e-wallets like LavaPay keep merchants away from your payment details.

Banking

You can fund your account using a regular bank transfer, Bitcoin and Litecoin wallets, Yandex, Paxum, OKPAY and Perfect Money. For cashouts, regular bank cards are also in the mix. As always, these methods may change depending on your location.

When it comes to fees, there’s not much to worry about. Fees do apply to both deposits and withdrawals, although some payment methods like Litecoin and Bitcoin are free of charge altogether. Sending money to other LavaPay e-wallets comes with a charge of 0.25%. Processing times vary depending on the method of payment: dealing with other e-wallets is instant, whereas banks may take up to 3 days.

Summary

LavaPay is a payment solution that provides an all-in-one service and supports both Bitcoin and Litecoin. The company mainly operates in Russia and with companies from a wide range of fields, including bingo, casino, poker and online games.

Click to visit LavaPay official website.

Posted by CCJ Team