Embattled financial services provider, Payday has announced in a statement steps to rectify Mastercard-related issues with its customers. This is a move to ensure the financial security of its user base.
According to Payday, all affected cards have been defunded, and the outstanding balances have been credited to customers’ digital wallets. The financial service provider reaffirms its commitment to enhancing the user experience and emphasizes that customer funds are now safe.
Speaking on this, Payday has streamlined the process for downloading Mastercard statements, which are:
- Access your Payday mobile application and locate the “§» icon at the top right corner.
- Simply click on the download button, then select “Cards” and specify your preferred timeline.
- Opt for “Mastercard,” and the statement will be efficiently dispatched to your email.
Payday also encourages customers with any additional questions or concerns to utilize the convenient in-app chat feature, ensuring a direct and faster resolution to any issues that may arise.
Read More: Red Flags Abound; the story of Payday, “an alternative for virtual cards and global payments”
How the MasterCard withdrawal issue started with Payday
On Monday, August 21st, a popular Twitter account, @PIDOMNIGERIA, made a tweet about Favour Ori, the founder and CEO of PayDay. The tweet accused Ori of using his app to illicitly obtain funds from Nigerians and other unsuspecting individuals across Africa.
These allegations included “dubious exchange rates,” the imposition of restrictions on withdrawing or transferring funds for customers, effectively rendering them inaccessible, and a lack of responsiveness to customer complaints.
This is not the first time the CEO, Favour Ori has been publicly accused of these offences as the comments section below the tweet was replete with narratives from impacted customers.
A few weeks ago, Payday terminated its partnership with its USD Mastercard provider but encountered complications in the process of withdrawing funds from the cards. However, the financial company noted that the problem encountered was unusual because such had been successfully handled in the past. But on this occasion, it extended beyond its expected timeline.
Roughly two months prior, Technext released a report that was the product of an investigation into a sequence of customer complaints. These concerns revolved around situations where individuals were ensnared in scams while utilizing the platform, leading to unapproved deductions from their accounts or discrepancies in the displayed funded amounts.
Regrettably, the affected users did not receive any form of compensation or reimbursement from the platform despite the unauthorized nature of these transactions. One of the sources who is a user and also a cybersecurity expert however claimed the app has numerous glitches and bugs that affect its functionality.
In light of the latest allegations, Payday has taken a step forward to confront the assertions regarding the prevalent account limitations that numerous customers appear to be grappling with as of late.
In a statement shared with Technext, Favour Ori clarified that the entirety of these unfavourable encounters has stemmed from technical predicaments with the company’s service providers.
These technical challenges, according to Ori, have had a direct impact on the calibre of services rendered by the company, leading to the reported problems.
Reactions to the statement from some of Payday’s customers
In all of these. some of the financial service provider’s users are yet to understand fully the recently released statement from the founder and CEO of PayDay as customers like (sirOdiong) reported on X that his final account balance was $31.87. Initially, he received a refund of $0.11. After reaching out via email, he was informed that the refund process was ongoing. However, yesterday, he received an additional $0.11, which has left him worried. After reviewing their statement, he found discrepancies and is now requesting that the company investigate and rectify the situation for clarity.
Read More: Payday CEO Favour Ori responds to fraud accusations, blames technical glitches
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