Merchants | FinTelegram News

Category: Merchants

May 3, 2023

Merchant Alert: Canadian High-Risk Payment Procesor ywallit pay Received Red Compliance Rating

CyberRating agency PayRate42 has added Canadian high-risk payment processor and merchant service provider ywallit Pay to its Red Compliance list. Some aggrieved customers informed the agency of the payment processor that payouts were not being made properly. The website does not provide details about the operator and its owners. Merchants should be very careful and avoid ywallit pay.

April 25, 2023

Merchant Alert: The Questionable Billing Services Of High-Risk Payment Processor Centrobill!

We ran a story yesterday about high-risk payment processor Centrobill, a payment processor for "adult-oriented content." This was given an Orange Compliance rating on PayRate42, which Centrobill felt was an attack. We were also suspected of not having done proper research in the comments to our report. Hence, here is an update on Centrobill's subscription billing activities via Cyprus-based Eurobill Tech Ltd. We are always grateful for criticism and information.

March 30, 2023

Merchant Alert: Payecards Downgraded To Orange Compliance!

The high-risk payment processor Payecard is operated via the UK-registered Payecard Global Ltd, controlled by Turkish citizen Halis Bayraktaroğlu. Payecard makes changing statements about the operating legal entities there and previously claimed to have companies in Switzerland and Germany. This could not be verified. Allegedly some partners terminated the cooperation. PayRate42 has placed Payecard on the Orange Compliance list. Merchants should be cautious.

March 21, 2023

Whistleblower Request: Let Us have Information About Vanished Gatwick Advisory Group!

Gatwick Advisory Group is an international corporate services firm specializing in high-risk merchants. The operator was the UK-registered Gatwick AG Ltd. On 23 February 2023, the UK High Court of Justice ordered the company to be wound up. The website has already vanished. On OffshoreCorpTalk and LinkedIn, merchants have shared their views on the scam qualities of Gatwick Advisory Group. We would like to know more about the operators of the now disappeared group.

February 15, 2023

Merchant Alert: High-Risk Payment Processor BitMatix Applied For Voluntary Strike-Off!

The high-risk payment processor BitMatix is part of Ruchi Rathor's network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.

February 10, 2023

Notorious High-Risk Payment Veteran Ruchi Rathor And Her Remarkable Twitter Statements!

Notorious Indian payment veteran Ruchi Rathor has raised a dark empire of high-risk payment processors over the past few decades. In the process, payment processors like iPayTotal regularly disappear with their merchants' money. Most recently, there was a verbal battle on LinkedIn between Rathor's Paypound and a merchant who felt cheated (report here). Now, for the first time, Ruchi Rathor has made public statements on Twitter, indirectly confirming the allegations.

January 24, 2023

Good By, Porn? High-Risk Payment Processor Payabl And Its Lost Adult Traffic!

The Cypriot high-risk payment processor Payabl had massive growth in 2022. The website visitors increased from less than 50,000 to over 340,000 in November 2022. Porn sites drove this impressive growth. Almost 50% of referral traffic came from porn sites like xHamsterLive or StripChat. However, over the last 28 days, Payabl's website traffic has dropped by a good third. Porn (referral) traffic has dropped to less than 17%. Apparently, xHamsterLive and StripChat are gone.

January 24, 2023

Merchant Alert: High-Risk Payment Processors Kryptova, Paypound, and BitMatix About To Vanish?

On January 23, 2023, a deletion request was submitted for the three companies Kryptova Biz Ltd d/b/a Kryptova, Self Pay IO Ltd d/b/a Paypound, and Bitmatix IO Ltd d/b/a Bitmatix. These high-risk payment processors are part of the network of Indian payment entrepreneur Ruchi Rathor and her family. In recent weeks, many complaints have been made, especially on LinkedIn, about these high-risk payment processors. The websites are online!

January 19, 2023

Merchant Alert: High-Risk Payment Processor OpenUp Works With Fake People!

FinTelegram has received extensive documentation from a former OpenFinance executive stating that Ruchi Rathor is the beneficial owner of the Denmark-based high-risk payment processor. The official shareholder is the Portuguese-registered Chestnut Investments - Unipessoal LDA, where Portuguese-based Russian Svetlana Ivanova is registered as a director. The documents also show that Rathor's various high-risk processors work with fake people. Merchants should be highly alerted!

January 18, 2023

Merchant Alert: New iPayTotal Joint Liquidators Report Missing Assets And Millions!

The Joint Liquidators of bankrupt iPayTotal, which belongs to the group of high-risk payment processors of the Indian group around the notorious Ruchi Rathor and the Pratap Singh family, submitted its second progress report on January 16, 2023. There is not much new information in it. The Joint Liquidators report no assets. Nine former customers (merchants) have filed claims of around $2.2 million. Millions vanished from the company into the pockets of the participating individuals.

January 16, 2023

Merchant Alert: Notorious Indian Payment Veteran Launched Pay Agency!

Reportedly, Indian payment entrepreneurs Ruchi Rathor, her son-in-law Yuvraj Singh and their family are allegedly residing in Dubai. There they enjoy the money they earn through the merchants of their numerous high-risk payment processors. Every week we receive complaints and warnings against various schemes like PayPound, Payomatix, or OpenUp. With Pay Agency, Rathor has launched the next project to address the high-risk payment segment. We recommend merchants and the highest caution.

January 12, 2023

Merchant Alert: High-Risk Payment Processor Paypound

Edward Tabus is the CEO of Mad Money Casino, which operates through MMC Global B.V. with a license from Curacao. The payment agent is MMC Global Holdings Limited in Cyprus. And with the payments, the Mad Money Casino has a problem. In particular with payments that should come from its payment processor Paypound. On LinkedIn, Edward Tabus has described in detail how Paypound withholds payments. FinTelegram has already warned about Paypound a few times.