Cyprus-based high-risk payment processor Payabl has become the latest addition to the Visa Direct Preferred Partner Program, PaymentExpert reports. The membership will provide Payabl access to Visa’s tools to improve real-time payment solutions. There is an intense discussion on Twitter about the payment processor specializing in porn and gambling and its founders, Ruediger Trautmann and Dietmar Knoechelmann. The company recorded a 182% YoY growth with its high-risk merchants.
Theodoros Hadjistyllis, Head of Acquiring & Cyprus Country Manager at Payabl, said that enabling real-time push payment solutions would further enhance the payment experience for our customers while contributing to our expansion. Michael Ioannides, Country Manager for Cyprus at Visa, further added that the card giant is “proud” to witness payabl. joining the partner program.
Ugne Buracienė, CEO of the Payabl Group added: “Our mission is to power payments, so merchants can focus on the business. To do that, we must keep ahead of industry trends and ensure our innovations align with the payment preferences of our customers.”
The Growth Drivers
The growth drivers for Payabl are the porn (adult) business, online casinos, and gambling. Between Oct and Dec 2022, almost half of the referral traffic came from websites in the adult sector. The biggest referral sites are the life porn sites xHamsterLive and StripChat. Online casinos such as Lucky Dreams also drive the payment processor’s growth.
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If you have any information about Payabl, its operators, and merchants, please share it through our whistleblower system, Whistle42.
