High-risk payment processors | FinTelegram News

January 26, 2021

Estonian-Israeli Pradexx hires former Leverate director as CFO

Pradexx OÜ, licensed in Estonia as a high-risk payment processor, recently has a new CFO - Matan Roee, from Tel Aviv, who was previously the Finance Director at CySEC-regulated Leverate. Pradexx is actually an Israeli payment processor using only the Estonian legal entity and crypto license. In addition to the Pradexx brand, the Legal Entity also operates crypto payment processor NextPayWay, where Angela Behar, who also resides in Israel, is registered as CEO and Co-Founder.

January 25, 2021

The iPayTotal Case – Insolvency, fact-based allegations, and alleged defamation

it is always somewhat challenging to expose scam-facilitating high-risk payment processors (HRPP). They tend to send lawyers to claim defamation. Sure, these HRPPs make enough money for good lawyers with their high-risk business practices. Well, challenge accepted. The UK-Indian HRRP iPayTotal also feels defamed by FinTelegram's reports and wants them offline. Purportedly, we did not name or explain the sources. Well, here is a summary of the fact-based allegations.

January 21, 2021

Wanted for funds – Maltese payment processor Paytah in legal troubles

Paytah is operated by Phoenix Payments Ltd, a company registered in Malta and regulated by MFSA. As reported by FinTelegram, PayTah has facilitated vast broker scams, including LincolnFX, RoyalsFX, CodexFX between 2019 and 2020. Victims of these scams have provided the European Fund Recovery Initiative (EFRI) with the Power of Attorney to recover their funds. Via its Maltese lawyer EFRI has taken actions to recover the victims' funds from Paytah. Currently, the Maltese connection is chasing after the Paytah people.

January 7, 2021

High-risk payment processor PXP Financial provides payment services to BetMGM in the U.S.

High-risk payment processor PXP Financial Limited is systematically developing its partner network to enter the attractive U.S. market. In December 2020, the company announced a partnership with MoneyNetInt Group to expand cross-border payments. Now it has partnered with U.S. gaming operator BetMGM, a joint venture between MGM Resorts and Entain. PXP Financial used to be part of the British Entain group until 2017 and is currently a Singapore-based Senjō Group member company.

December 28, 2020

Initial Coverage – Israeli FinTech unicorn eToro allegedly prepares for $5 Billion IPO in 2021

The global COVID-19 crisis is unlikely to prevent 2021 from being a promising year for stock markets and FinTechs. UK FinTech unicorn TransferWise is reportedly currently evaluating a billion-dollar blockbuster IPO for 2021 led by Goldman Sachs. The latter is also said to be evaluating an IPO of the Israeli FinTech unicorn eToro on Nasdaq at a $5 billion valuation, Israeli Calcalist reports. Allegedly, it has been valued at about $2.5 billion.

December 25, 2020

Troubles for high-risk processor iPayTotal – Court order to wind-up and nasty Octopay rumors

A UK court entered an order to wind-up the iPayTotal Ltd. And then rumours relating Octapay Group to iPayTotal. Octopay's former CEO, Christian van Biezen was fired for various alleged misconduct. However, Biezen told FinTelegram that he refused to participate in the Octapay scam and was fired because of it. He claims that the economic owners behind Octapay would be identical to those behind iPayTotal. Now a new Chief Experience Officer, Davina Mungroo, has been appointed at iPayTotal.

Category: High-risk payment processors