In a recent development, PayRate42, a prominent cyberfinance rating agency, announced that it has critically reviewed the Georgian payment processor OMNO and included it in its Red Compliance and Red Risk lists. Despite its diverse range of payment solutions, this review underscores significant concerns about OMNO‘s transparency and regulatory compliance. FinTelegram’s recent analysis identified OMNO as part of a network of high-risk payment domains.
Diverse Offerings with Underlying Concerns
The processor OMNO, a high-risk payment processor co-founded by Kakha (Vakhtang) Gelashvili (LinkedIn) is characterized by an opaque ownership and executive management structure, further complicating its risk profile. According to our website traffic analysis, OMNO is closely connected to other high-risk payment processors, including CleanPay, with the domains Cosmo.tech and cleanpay.eco. Similarweb says OMNO receives almost 100% of its incoming referral traffic from online casino websites.
OMNO offers various payment methods to ensure secure and efficient transaction processing. Its services cater to multiple industries, including e-commerce, retail, travel, hospitality, gaming, and financial services. Despite these offerings, its website’s lack of detailed regulatory information raises significant compliance concerns, PayRate42 states.
Customer Feedback and Industry Presence
Interestingly, there is a noticeable absence of customer reviews on major platforms such as Trustpilot and Google. This void suggests a dynamic yet potentially unstable work environment, with some indications of management issues. The absence of customer feedback also adds to the challenges in assessing the company’s reliability and performance.
Go to the OMNO profile on PayRate42.
Regulatory Oversight and Transparency Issues
A major red flag identified by PayRate42 is the lack of comprehensive information regarding OMNO’s regulatory oversight. The company’s website does not provide clear details about the financial regulators overseeing its operations, which is a crucial aspect for any entity in the financial services sector. This omission raises substantial doubts about its adherence to necessary regulatory frameworks and standards.
Cautionary Conclusion
Given these findings, PayRate42 has issued a cautionary report on OMNO. The report highlights the risks associated with the payment processor’s transparency and regulatory compliance. This cautious stance reflects broader concerns within the industry about the reliability and integrity of high-risk payment processors with opaque operational structures.
