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Tag: Debra King

The High-Risk Payment Saga: Donald Kasdon, T1 Payments, and Pixxles in the Spotlight!

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Miami's very own Donald Kasdon is a notable figure in the global high-risk payment industry, a tough space to be in; it often treads a thin line between legal operations and murky, illicit undertakings. T1 Payments Group was a high-risk payment scheme operated by the Kasdon family until its bankruptcy in early 2023. The FCA-regulated EMI, founded and run by Kasdon's fiance, Amber Fairchild, seems to burn a lot of money without any recognizable business.

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

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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.

How T1 Payments And Payvision Engineered Their U.S. High-Risk Business!

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T1 Payments LLC was a VISA- and Mastercard-registered Payment Facilitator (PAYFAC) until 2017 in the U.S. and had a contract with WorldPay (then dba Vantiv). This industry-leading payment processor processed more than 20 billion transactions per year at the time. In March 2017, Vantiv filed a fraud complaint in the U.S. against T1 Payments. The latter subsequently had to process its U.S. customers through Payvision up to at least the summer of 2021. However, the Dutch payment processor was not authorized to operate in the U.S. Thus, they engineered a special solution.

The Alleged U.S. High-Risk Payment Fraud Scheme Of T1 Payments And ING Subsidiary Payvision!

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ING subsidiary Payvision was a super-aggressive high-risk payment processor that did not shy away from facilitating cybercrime activities until it was shut down in October 2021. Founded by Rudolf Booker in Amsterdam, the FinTech has worked with Donald Kasdon's high-risk processor, T1 Payments, in the United States. Payvision and T1 Payments worked out a system that allowed Payvision to hide behind Donald Kasdon's group of companies. In the U.S., former customers (merchants) brought fraud lawsuits. Let's unfold the story!

Court cases continue against high-risk payment processors Payvision, T1 Payments, and Pixxles!

Court Cases Ben -
It's court season again for Payvision and its former U.S. partner T1 Payments. While a fraud complaining has been brought in the U.S. by a former client against the T1 Payments group and its alleged successor company, the FCA-regulated e-Money Institution Pixxles Ltd, for alleged illegal activities, the European Fund Recovery Initiative (EFRI) has filed a lawsuit against Payvision for its scam-facilitating activities in Austria. T1 Payments is trying to dodge the U.S. lawsuit by preventing being served in the UK. Here's an update.

Introducing high-risk payment processor Pixxles!

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The FCA-regulated high-risk payment processor Pixxles is allegedly the successor to the T1 Payments group. Sounds plausible! Pixxles Ltd is the trading name of Pixxles, an e-money institution regulated by the Financial Conduct Authority (FCA) with reference number 927960. The T1 Payments manager Amber Fairchild established the company in October 2018 and is the controlling owner. Fairchild, too, is a Defendant in the U.S. fraud complaint filed by a former T1 Payments client.

Introducing high-risk payment processor Pixxles!

FCA Ben -
The FCA-regulated high-risk payment processor Pixxles is allegedly the successor to the T1 Payments group. Sounds plausible! Pixxles Ltd is the trading name of Pixxles (www.pixxles.com), an e-money institution regulated by the Financial Conduct Authority (FCA) with reference number 927960. The T1 Payments manager Amber Fairchild established the company in October 2018 and is the controlling owner. Fairchild, too, is a Defendant in the U.S. fraud complaint filed by a former T1 Payments client.

U.S. Fraud Complaint against T1 Payments, Payvision and its spin-off Cetler

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There is no end to the drama surrounding the disgraced Dutch FinTech and high-risk payment processor Payvision. The ING subsidiary and its founders Rudolph Booker, Gijs op de Weegh, and Cheng Liem Li have been facing allegations of having facilitated scams and cybercrime for many years. In addition to criminal investigations and victims' claims, there are also lawsuits in the U.S. filed against Payvision and its spin-off Cetler. They allegedly were working in collusion with the T1 Payments group. Here's the story.

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