Thank you for choosing Cosmofeed as your preferred creator economy platform. We greatly value your support and would like to address a recent issue regarding the use of LazyPay, AmazonPay, Zest Money and other BNPL platforms for cashing out funds earned through the platform. It has come to our attention that this practice is in violation of BNPL Platforms guidelines and is not allowed. Consequently, we have initiated a process to revert the amount to the original payment source. In this article, we aim to provide further clarity on this matter and encourage fair usage of both Cosmofeed and other payment platforms.

Understanding the Issue:
When using Cosmofeed's Payment Page product, we have noticed that some users have been utilizing the BNPL Platform as their payment method and subsequently attempting to cash out funds to their bank accounts. However, this practice contradicts BNPL platforms guidelines, and as a result, the funds are being returned to the original source of payment.

What is Cashing Out?
Cashing out is the process of transferring funds from a digital wallet or payment platform to a bank account. While this practice may seem convenient, it is important to understand the implications associated with it.

Cashing out funds earned through Cosmofeed using BNPL platforms is considered an illegal or unfair practice. It violates the guidelines set by the BNPL Platform, as it goes against their terms of use. These guidelines are in place to ensure the integrity and proper use of their payment services.

Fair Usage of Cosmofeed:

Cosmofeed encourages fair usage of its platform, which means engaging in legitimate and ethical practices. It is essential to respect the terms and conditions of both Cosmofeed and the payment providers integrated into the platform. By doing so, you contribute to a secure and transparent environment for all users.

Reverting Funds:
To maintain compliance with the guidelines of LazyPay and other payment providers, Cosmofeed has initiated a process to revert the cashed-out amount back to your Cosmofeed wallet from where you can initiate refunds back to your source account
Note: Refund charges will be applied when initiating a refund back to your source account for more information on how to Initiate a refund click here.

Conclusion:
Cashing out funds to a bank account using BNPL platforms on Cosmofeed is an illegal or unfair practice that contradicts the BNPL platform's guidelines. We urge all users to refrain from engaging in such activities. Cosmofeed is committed to upholding fair usage policies and working closely with payment providers to ensure compliance. If you have any questions or concerns, please contact our support team (support@cosmofeed.com) for further assistance. Let's maintain the integrity and trust of the Cosmofeed community by using the platform responsibly and ethically.