Tag: BlueSnap

The 10 Worst Rated High-Risk Payment Processors According to PayRate42

High-risk payment processors tamir - June 14, 2024

Navigating the high-risk payment sector can be challenging for merchants and payment processors alike. This space, encompassing industries such as online gambling, e-cigarettes, and online dating, is notorious for being prone to fraud and financial instability. In such an environment, the transparency and insights provided by cyber rating agencies like PayRate42 are invaluable. Recently, PayRate42 released its "10 Worst-Rated High-Risk Payment Processors."

High-Risk Payments: BlueSnap Settles for $10 Million with FTC Over Fraudulent Payment Processing!

Money Laundering tamir - May 2, 2024

Payment processor BlueSnap, its former CEO Ralph Dangelmaier, and SVP Terry Monteith agreed to a $10 million settlement with the Federal Trade Commission (FTC) for its role in processing payments for companies engaged in deceptive and fraudulent practices. The settlement mandates significant financial restitution aimed at compensating consumers and a strict prohibition against processing payments for certain high-risk clients.

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