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Tag: PayRate42

Merchants

October 22, 2023

PayRate42 Issued A Merchant Warning Against Merchant Pay Services!

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.

February 10, 2023

Notorious High-Risk Payment Veteran Ruchi Rathor And Her Remarkable Twitter Statements!

Notorious Indian payment veteran Ruchi Rathor has raised a dark empire of high-risk payment processors over the past few decades. In the process, payment processors like iPayTotal regularly disappear with their merchants' money. Most recently, there was a verbal battle on LinkedIn between Rathor's Paypound and a merchant who felt cheated (report here). Now, for the first time, Ruchi Rathor has made public statements on Twitter, indirectly confirming the allegations.

High-risk payment processors

January 20, 2023

Introducing CyberRating Agency PayRate42!

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.

December 9, 2022

Really? Payomatix Founder Ruchi Rathor Launched The RaiseMoney Initiative!

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!

September 30, 2022

The BridgerPay Discussion! Ran Cohen Refuses To Accept Responsibility To Prevent Scams!

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.

PayTechs

September 28, 2022

The BridgerPay Attack On CyberFinance Rating Agency PayRate42!

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.

September 26, 2022

Crypto Payment Processor MoonPay Plans To Expand On the NFT Fast Track!

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.

FinTelegram

September 22, 2022

CyberFinance Rating Agency PayRate42 Explains Its Rating System!

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.

September 19, 2022

BridgerPay Adds Red-Rated Bulgarian High-Risk Payment Processor EU Paymentz!

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.

September 19, 2022

BridgerPay Connections – A Free Search Engine For Merchants To Find Payment Processors!

Israeli-Cypriot payment orchestrator BridgerPay launched Bridger Connections, a free search engine for merchants to help them find the perfect payment processors for their businesses. The search engine includes many but not all providers we know of. Some of them are already integrated into the BridgerPay gateway and some of them are built on demand where BridgerPay offers to put the merchants in contact with the payment processors. An introductory webinar will be held on September 29, 2022.

July 27, 2022

Confirmed! High-Risk Payment Processor OpenUp Seems Related To iPayTotal Group!

OpenUp is a high-risk payment processor operated by Openup Consulting Services AsP, a company registered in Denmark and owned by Chestnut Investments Lda in Portugal. The only director of Openup is Svetlana Ivanova. On LinkedIn, we found 12 people connected to the OpenUp across different jurisdictions. We published a whistleblower request a few weeks ago, and a former employee confirmed that OpenUp is related to the Indian-British iPayTotal Group and its co-founder Ruchi Rathor. He offered additional intel for money.