Tag: New U Life

At first glance, T1 Payments may look like an old story from the heyday of binary options, high-risk MLM, and aggressive offshore processing. Its glory days as one of the major high-risk payment processors are long over. But the case is far from dead. Courts in the U.S. and Europe are still dealing with the wider fallout, including the role of its long-time partner Payvision.

The latest public record around U.S. high-risk processor T1 Payments and its founder and former CEO Donald Kasdon points not to a comeback, but to a deepening post-collapse aftermath. Court records show that T1’s Chapter 7 bankruptcy was treated as closed by June 10, 2025, that stayed merchant cases began moving again, and that one related action ended in a March 30, 2026 default judgment against T1.

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.