Tag: PayPal

Elon Musk allegedly selling SpaceX shares to finance Twitter dealE
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March 8, 2023

Elon Musk Expects Twitter To Turn Positive in Q2 2023 With Record User Numbers And A Payment Vision!

Speaking at a Morgan Stanley investor conference on Tuesday, Elon Musk said that Twitter could return to posting positive cash flow in Q2 2023. He is still planning to introduce payments to the platform, adding that he believed it was “possible to become the biggest financial institution in the world just by providing people with convenient payment options.” According to Financial Times, Twitter’s monetizable daily active users numbers had risen to 253 million, its highest ever.
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Buy Now Pay Later regulation ante portas in UKU
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February 15, 2023

UK Plans To Regulate “Quicksand Sector” Buy-Now-Pay-Later!

The UK plans to regulate Buy-Now-Pay-Later (BNPL) sector, saying it poses potential harm to consumers without thorough affordability checks. Providers such as Klarna, Clearpay, and PayPal will be required to give consumers key information about their loans and issue affordable credit. At the same time, users will have the right to take complaints to the Financial Ombudsman Service. The sector nearly quadrupled during the pandemic in 2020 to 2.7 billion pounds ($3.28 billion).
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PayPal became a social credit watchdogH
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December 15, 2022

How Online Payment Pioneer Became A Black Mirror Episode? Will Twitter Become An Alternative?

PayPal pioneered new-generation online payment services almost 25 years ago. You could send and receive money simply and easily via your email address. It was a cheap alternative to credit cards and banks. PayPal was founded by today's tech giants Peter Thiel, David Sacks, Max Levchin, and Elon Musk. In recent years, PayPal has systematically earned a bad reputation. Musk refers to PayPal as a Black Mirror episode and indicates that Twitter might soon become an alternative.
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high-risk payment processor Epoch and TechniusW
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November 8, 2022

Whistleblower Request: High-Risk Payment Prozessor Epoch And Cyprus Porn Clients!

In the last few weeks, as part of our Wirecard Legacy series, we have started research on high-risk processors for the porn sector. Wirecard was one of the payment processors for the porn empire of the MindGeek group, which operates the porn sites YouPorn and PornHub, among others. In addition, xHamsterLive and StripChat are also large porn sites operated by Technius Ltd, which is registered in Cyprus. Epoch is involved as a payment processor, among others. We would like to know more.
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Disastrous Trustpilot ratings of crypto exchangesT
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September 8, 2022

The Disastrous Trustpilot Ratings Of Crypto Exchanges And The Exceptions CEX, Oobit, And BitPanda!

The well-known crypto exchanges like Coinbase, Binance, Crypto.com, or FTX seem to have a problem with their customers. On Trustpilot, most of the top crypto exchanges have scam ratings with customers complaining about unfounded blocked accounts and problems with customer service. Exceptions are CEX.io, Oobit, or BitPanda, which stand out like a lighthouse on Trustpilot. With 4.7-stars and 4.1-stars respectively, CEX.io and BitPanda apparently perform incredibly better than their international competitors.
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Blake Jorgensen appointed CFO PayPalP
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August 3, 2022

PayPal Appoints Blake Jorgensen As New Chief Financial Officer!

With its Q2 results, PayPal announced Blake Jorgensen as its next finance chief, succeeding John Rainey, who left the digital payments giant earlier this year for the same role at Walmart. Jorgensen’s appointment takes effect Wednesday, PayPal said in a press release. He most recently served as CFO for about a decade at videogame maker Electronic Arts. Before that, he served as finance chief at Levi Strauss & Co. Jorgensen will be tasked to monitor the $900 million of cost savings expected to be realized in FY'22.
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US trial against Serbian boiler room operators and binary options fraudstersG
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July 31, 2022

Groundbreaking Ruling: U.S. Judges Sees Visa As A Facilitator Of Child Porn And Sex Trafficking!

FinTelegram has always argued that payment processors are liable for their clients' crimes if they knowingly and wilfully facilitate them. A U.S.judge ruled Friday that Visa helped Pornhub “monetize child porn” a decision that could have long-lasting implications for credit card networks and payment processors. The court denied Visa’s motion to be dismissed from a lawsuit against Pornhub operator MindGeek. The ruling states that there was enough evidence to show Visa knowingly facilitated the crime by providing tools to complete the crime” of distributing child pornography.
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The Romanian-Cyprus broker Capex in an intitial review on FinTelegramI
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June 15, 2022

Initial Review – Capex And Keyway Investments

We recently started to follow the Key Way Group of the Romanian Octavian Patrascu and published an initial review. Key Way Group operates the broker Capex with the CySEC-regulated Key Way Investments Ltd and the broker clicktrades via the offshore entity KW Investments Limited in Seychelles. We took a closer look at the two brokers and found in our initial review on 14 June 2022 that Capex violates the ESMA and CySEC regulations by accepting pre-KYC deposits in theoretically unlimited amounts via bank wire. Here is the review.
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Starling CEO Anne Boden warns against cryptoF
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June 9, 2022

FinTech CEO Anne Boden Calls Crypto A Threat To Our Financial System!

Anne Boden, founder and CEO of the Goldman Sachs-backed UK FinTech Starling Bank has doubled down on criticisms of crypto, calling digital currencies a threat to the safety of payment infrastructure. Cryptocurrencies are a threat to the safety of our payment schemes and very dangerous, she said at the Money 20/20 fintech conference in Amsterdam. Starling Bank offers fee-free checking accounts and loans through an app. The firm was last privately valued at $3.1 billion and counts the likes of Goldman and Fidelity as investors.
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High-Risk payment processor Total Processing recruits dismissed Klarna employeesW
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May 27, 2022

While The FinTech Sector Goes South, High-Risk Payment Processors Are Still Bullish!

If we were to look back in a year or two, we might find that the last week of May 2022 manifested the trend toward the entire tech sector's crisis, especially in the FinTech sector, which saw a C19 Pandemic-boosted hype before that. FinTech unicorns like Klarna or Bolt announced massive layoffs. Online payment pioneer PayPal as well. In contrast, the high-risk payment segment still seems to be booming. Alex Leigh, the co-founder of Total Processing, has made a job offer to the terminated Klarna people via a LinkedIn post.
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US FinTech Bolt lays off 250 employeesB
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May 27, 2022

Bolt Financial Switches Into Crisis Mode And Fires 250 Employees!

Earlier this week, Swedish FinTech unicorn Klarna announced an austerity program and the layoff of 10% of its workforce. San Francisco-based Bolt Financial had to follow this path and lay off around a third of its workforce, or around 250 employees, to reach profitability with the money available. The Bolt layoffs came just months after investors valued FinTech at $11 billion. PayPal and other FinTechs also announced layoffs and hiring freezes. Evidently, the FinTech sector switches into crisis mode.
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Request 4 Information PGSellersR
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January 30, 2022

R4I – Scam-facilitating illegal payment processor PGSellers!

Victims of several scams have sent us payment documents proving that they made their deposits to the scams via PGSellers Ltd. Officially, PGSellers sells courses, ebooks, or education packages to would-be online traders. However, we have already discovered PGSellers as an illegal payment processor for IGM Holdings, HQ Trade, and FinoCapital. PGSellers is a registered merchant with several payment services providers and is owned by the British Paul Solinsky.
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