Tag: PayRate42

Unfortunately, payment processors often treat their high-risk merchants unfairly or even rip them off. That is why risk and compliance ratings such as those from PayRate42 are very important. PayRate42 recently reviewed TODAPay, a Canadian Money Service Business (MSB), shedding light on the essential details and potential pitfalls for merchants considering their services. TODAPay received an Orange Risk & Compliance Rating.

In the rapidly evolving world of cyber finance, where the boundaries of traditional financial regulation blur, our partner, PayRate42, emerges as a trusted rating agency. Payrate42 is not just a benchmark for quality and trust; it's a beacon guiding merchants and consumers through the dynamic landscape of neobanks, fintechs, paytechs, and crypto service providers. List your business today!

FinTelegram warns against engaging with or relying on the online platform FinRate, which has recently surfaced as a deceptive clone of the reputable cyber rating agency PayRate42. Allegedly based in Singapore's Suntec Tower, FinRate has begun operations under the guise of a legitimate rating agency specializing in the evaluation of payment gateways, acquirers, and other service providers. However, our investigations reveal several alarming red flags associated with this platform.

In our ongoing analysis of payment processors within the fintech and online gambling sectors, the high-risk payment processor Nummuspay has recently come under the spotlight following its involvement with the offshore casino Spinbookie, as previously noted in our review of the gambling platform. PayRate42, which has placed the payment processor on its Red Compliance List, has further highlighted the concerns around Nummuspay.

PayRate42, the CyberRating Agency dedicated to rating fintechs and paytechs, issues a critical merchant warning against Merchant Pay Services. Their mission is to provide transparency for merchants and consumers, and it is crucial to safeguard businesses from unreliable payment providers. Due to complaints from merchants, PayRate42 has issued a warning against the payment processor. Be careful and share your experience.

Payment processors have an almost overpowering position in high-risk industries such as online trading and investments, online casinos, or porn. Merchants are often dependent on them due to the nature of their business. And are often cheated. Among the unregulated payment processors, there are many black sheep. CyberRating agency PayRate42 has tasked itself with analyzing and rating payment processors.

High-risk processor Payomatix is one of the many payment ventures of the notorious British-Indian Ruchi Rathor, the mastermind behind the collapsed payment scheme iPayTotal scheme. Just recently, Rathor launched the RaiseMoney initiative, an online community assisting entrepreneurs and investors in their early-stage financing. The legal entity behind this new scheme is Payomatix Technologies Pvt Limited, a company black-rated on PayRate42. We advise merchants and investors to be super-cautious!

We've heard for years from BridgerPay founder Ran Cohen and other operators of unregulated payment gateways and payment processors that they didn't need to adhere to any regulatory requirements. Cohen recently argued again on Facebook that only PCI regulations would apply to BridgerPay. This is simply false. In all jurisdictions, we know of, facilitating criminal activity intentionally or negligently is punishable by law for any person or organization regardless of regulatory provisions.

FinTelegram has been active as a financial intelligence platform for about four years, specializing primarily in investor protection and financial cybercrime. Since FinTelegram's inception, Ran Cohen's Israeli-Cypriot payment platform provider BridgerPay has come to light as a facilitator in dozens of scams. The CyberFinance rating agency PayRate42 also placed BridgerPay on its Red Compliance list. And was berated and defamed by Cohen in a Facebook post for doing so.

In recent months, the Crypto payment processor MoonPay and its CEO Ivan Soto-Wright have come to our attention as aggressive crypto payment players fully embracing NFTs. Not necessarily a wrong strategy. However, we found the company as a facilitator of several scams. This can happen as well. The CyberFinance rating agency PayRate42 has put MoonPay on the Orange compliance list. Most recently, MoonPay has made headlines as a partner of renowned companies such as Universal Studios in the NFT environment. Here is a short introduction.

The CyberFinance rating agency PayRate42, co-founded and supported by FinTelegram, has been systematically adding payment processors and FinTechs in its database for several months. The listed providers are checked and being given a compliance rating based on the traffic light system with green, orange and red. For the really bad and illegally acting PayTechs and FinTechs, PayRate42 has the black color. In a video, PayRate42 explains its system.

Recently we reported about BridgerPay's new search engine, Bridger Connections. Merchants can search for suitable payment processors for free, which is an attractive offer, especially for high-risk merchants. However, the quality and compliance of the integrated payment processors are apparently not checked by BridgerPay. As with the high-risk payment processor EU Paymentz which does not provide the required information about the legal entities on its website and is on PayRate42's "Red Compliance" list.