Tag: iPayTotal Group

PayRate42 established the 10 Worst High-Risk Payment Processor listT
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June 14, 2024

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

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."
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Payment processor octapayG
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January 24, 2023

Guest Post: The Background Story Of Vanished High-Risk Processor OctaPay!

New information on the infamous iPayTotal Group. Back in 2020, iPayTotal was busy dealing with its clients, internal conflicts, and politics. The situation got a little out of hand. Sen Kugan, former director iPaySolutions, hired a bunch of his friends from India and Sri Lankan origin since he is a Sri Lankan. Out of the many employees FinTelegram mentioned in its posts already, who led to the downfall of iPaytotal Group and the reason for the formation of OctaPay? Here is the story!
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Payomatix with Ruchi Rathor and their Indian network eventA
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August 12, 2022

Attention! Notorious Payomatix, Ruchi Rathor, And Their Indian Network Event!

Payomatix is a part of the high-risk payment processing empire of the notorious British-Indian Ruchi Rathor and its iPayTotal Group. Payomatix claims to be a PayTech startup revolutionizing the Indian payment industry through an innovative API platform. On LinkedIn, Payomatix is currently promoting its Founder Investor Networking Q3 event to be held in August 2022 in India. Ruchi Rathor will also be a speaker at this event. She certainly has a lot to tell!
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Whistleblower request for high-risk processor SumoPayW
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August 1, 2022

Whistleblower Request – High-Risk Payment Processor SumoPay!

FinTelegram readers know that in our research and reporting, we emphasize high-risk payment processors that, unfortunately, very often act as facilitators of cybercrime organizations and their illegal activities. For this reason, we also founded the cyberfinance rating agency PayRate42 together with partners a few months ago with the mission to list, review, and rate them. Today we would like to know more about the high-risk payment processor SumoPay operating in Asia.
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OpenUp.Finance LinkedIn postingT
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July 28, 2022

The OpenUp Story Continues With Bullied Employees And Paid Trustpilot Reviews!

Currently, the high-risk payment processor OpenUp.Finance is apparently experiencing problems. Existing and former employees have contacted FinTelegram and provided insider information. We have thus been able to confirm that the notorious British-Indian payment veteran Ruchi Rathor is one of the beneficial owners. On July 26, 2022, OpenUp announced the separation of three employees in a LinkedIn posting. Insiders also informed us about Trustpilot manipulations. Thus, employees receive a bonus of $5 if they organize positive reviews.
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Whistleblower request for payment processor openup on FinTelegramW
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June 5, 2022

Whistleblower Request – Payment Processor And Incubator OpenUp!

OpenUp is a high-risk payment processor operated by Openup Consulting Services AsP, a company registered in Denmark. According to the company register data, Chestnut Investments Lda in Portugal owns the Danish entity. The only director of Openup is Svetlana Ivanova. On LinkedIn, we found 12 people connected to the OpenUp across different jurisdictions in the United Kingdom, India, or Nigeria. We have received credible information that OpenUp may be related to the Indian-British iPayTotal Group and would like to learn more.
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iPayTotal collapse and the missing millionsW
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May 30, 2022

Wanted! The Missing Millions Of Collapsed High-Risk Payment Processor iPayTotal!

The court-appointed Joint Liquidators submitted a progress report in Feb 2022 providing a sense of the scale of the iPayTotal disaster while outlining how these high-risk payment processors operate. The liquidators identified 13 creditors but only seven reported claims totaling about GBP 1.1 million. These are likely to be the merchants who wanted to receive their payments through iPayTotal. iPayTotal Ltd was just one of many legal entities in the vanished group. So we can assume that the damage to the merchants is actually many times higher. Many millions have disappeared.
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Ruchi Rathor and her iPayTotal Network of high-risk payment processorsR
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February 21, 2022

Ruchi Rathor, collapsed iPayTotal and the new high-risk payment processors!

It seems that the former people around the collapsed high-risk payment processor iPayTotal have developted a vast network of successor companies. Initially, OctaPay was a successor but since vanished again. Currently, Paypound and Payomatix and the crypto payment processors Cryptomatix and Kryptova are associated with Indian-British iPayTotal co-founder Ruchi Rathor. iPayTotal is active as a fintech software provider through companies in India and Portugal. Ruchi Rathor is still one of the driving forces behind these high-risk payment ventures with close African ties.
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Collapsed high-risk payment processor iPayTotal still activeT
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January 23, 2022

The new life of collapsed iPayTotal and its founder Ruchi Rathor

FinTelegram has reported several times on the collapse of the notorious British-Indian high-risk payment processor iPayTotal. In Oct 2020, a UK court ordered the insolvency and liquidation of iPayTotal Ltd. In Oct 2021, the successor company iPaySolutions Ltd also filed for liquidation. Since then, iPayTotal has been relabeled into a FinTech software company operated by IPT Solutions PT, Portugal, which also runs the crypto payment platform CryptoMatix with iPayTotal co-founder Ruchi Rathor. Here is the update!
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