Category: PayRate42

Anonymous and scam facilitating payment processor Payepo black-ratedM
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September 19, 2023

Merchant Alert: The Anonymous Payment Processor Paypo And Why It Is Important To Disclose Information!

FinTelegram has recently warned about the DE-KSM broker scam. In our review, we found the previously unknown payment processor Payepo, which does not provide any information about the operators on its website, probably for a good reason. To provide information about the owners, management, and applicable jurisdiction is rooted in legal, regulatory, and trust-building considerations.
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Indian high-risk payment processors Paypound and Kryptova escaped to NevisH
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March 5, 2023

High-Risk Payment Processors Kryptova And Paypound Finally Escaped To Nevis!

Now it's official! The two high-risk payment processor schemata Kryptova and Paypound from the environment of the notorious Indian payment veteran Ruchi Rathor are officially operated via the offshore company Next Ring LLC in Nevis. Until recently, the two UK-registered companies, Kryptova Biz Ltd and Self Pay IO Ltd, were the official operators. These are now in the process of voluntary strike-off. The new Nevis address is included in the Offshore Leaks Database.
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MErchant alert against high-risk payment processor RagaPayM
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March 5, 2023

Merchant Alert: Indian High-Risk Payment Processor RagaPay Received Orange Compliance Rating!

The high-risk payment segment has been booming for decades. The business has high margins, as we know from the Wirecard process. The number of high-risk merchants is constantly growing, and with it, the demand for payment services. Unfortunately, most high-risk payment processors are dubious and regularly rip off merchants. RagaPay is an Indian-controlled venture. The cyber rating agency PayRate42 has placed it on the black compliance list.
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FCA-regulated Pixxles appoints Salma Kamaly as directorM
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November 27, 2022

Merchant Alarm: FCA-Regulated Pixxles Downgraded For High Loss And Cash-Burn Rate

Pixxles is a spin-off of the notorious US high-risk payment processor T1 Payments. FCA-regulated since June 2021, the e-money institution is led by former T1 Payments executive Amber Fairchild, once the fiancée of T1 Payments founder and CEO Donald Kasdon. PayRate42 downgraded Pixxles because of its financial performance. The company's 2021 financials show a heavy operating loss and an substantial cash burn rate, which had to be covered by issuing new shares.
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