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Cyprus High-Risk Payment Processor Payabl Deploys Wirecard Approach Against FinTelegram!

The Wirecard approach of high-risk payment processor Payabl
Spread financial intelligence

Wirecard was known for blasting critical media with ads and lawsuits. Before its collapse, Wirecard denounced journalists from the Financial Times, for example, alleging defamation. In the end, the Financial Times reports turned out to be correct. The payment processor Payabl, founded by former Wirecard executives Ruediger Trautmann and Dietmar Knoechelmann, is taking similar action against FinTelegram, claiming defamation and DMCA violations.

Nataly Panagidou (LinkedIn) is the Head of Legal Department at Payabl. She recently sent a DMCA complaint to Cloudflare, complaining that FinTelegram had used an image shared by Payabl across multiple social media channels in a report. She took this as an opportunity to ask Cloudflare to take action against FinTelegram for defamation and libel.

Original Work: The infringing website has stolen the photo from payabl’s social media and has published it on its article with the intention to make defamatory statements to harm our business and reputation.  The original photo of payabl. was published at: https://twitter.com/payabl_eu/status/1597953962531078145 and https://www.linkedin.com/posts/payabl-eu_principalmembers-visa-fintech-activity-7003628848168718337-Ee7c?utm_source=share&utm_medium=member_desktop

Nataly Panagidou in the Payabl complaint

Strange, isn’t it? Payabl is sharing an image about an event on social media. When you do that, you want that image to be shared, or at least you accept that.

Payabl, a payment processor focused on porn and gambling like Wirecard, apparently wants to use Wirecard‘s methods to silence FinTelegram. In many aspects, Payabl looks like a Wirecard Mini-Me. It deploys the same business model and works with the very same business practices. This already didn’t work for Wirecard, on the contrary. It probably won’t work for Payabl either.

Key Data

Trading namesPayabl
Payabl.
PowerCash21
PowerPay21
Domainshttps://payabl.com
Legal entitiesPayabl.cy Limited, Cyprus
(prev names: PowerCash21 Limited,
E.E.A. Multicurrency Card Payment Processing Ltd)
JurisdictionsCyprus, Germany
RegulatorCentral Bank of Cyprus (Payment Authority)
Related individualsRuediger Trautmann (LinkedIn)
Dietmar Knoechelmann
Ayelet (Fruchtlander) Knoechelmann (LinkedIn)
Nissim Zarfati (LinkedIn)
Frank Schoonbaert (LinkedIn)
Ugne Buraciene (LinkedIn)
Nikolett Ioannides (LinkedIn)
Nataly Panagidou (LinkedIn)
Theodoros Hadjistyllis (LinkedIn)
David Scalabrino (LinkedIn)
Related entities Payabl Solutions GmbH (Germany)
Inatec Solutions GmbH (Germany)
Klarpay AG d/b/a Klarpay (https://klarpay.com)

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