Category: Merchants
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The Russian High-Risk Payment Processor Payeer!
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In March 2022, the Estonian FIU forced Russian-controlled Garantex Europe OÜ d/b/a Garantex to surrender its crypto license due to money laundering issues with Russia. However, many other FIU-licensed crypto payment processors controlled by Russians engage in illegal activities. One is the notorious scam facilitator and merchant service provider Payeer…
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Merchant Warning: OpenUp Works With Paid Trustpilot Reviews!
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Currently, the high-risk payment processor OpenUp.Finance is experiencing problems. Existing and former employees have contacted FinTelegram and provided insider information. We have thus been able to confirm that the notorious British-Indian payment veteran Ruchi Rathor is one of the beneficial owners. On July 26, 2022, OpenUp announced the separation of…
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High-Risk Payment Processor OpenUp Seems Related To iPayTotal Group!
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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…
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What Is an ISO In The Payment Industry?
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An Independent Sales Organization (ISO) is a third-party payment processing company authorized to handle business merchant accounts. ISOs have relationships with acquiring member banks, allowing them to provide merchant services to their customers. While they often have a questionable reputation, ISOs are more flexible and easier to work with than…
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War Time In The High-Risk Payment Processing Industry!
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Unfortunately, it is an indisputable fact that the payment processing industry is crowded with black sheep and scammers. Especially in the area of high-risk payment processors, many players rip off their merchants. These bad payment processors have included collapsed iPayTotal or the related Paypound or NeoBanQ. On 4 June 2022,…
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Payment Agent Tranzbase Listed On PayRate42
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Tranzap Ltd d/b/a Tranzbase, a PSD Agent registered with the UK Financial Conduct Authority (FCA), is doing business on behalf of its principal Cauri LTD, an FCA-authorized Payment Institution (PR42 profile). The payment agent is focused on online merchants and offers bank accounts with dedicated IBAN for SEPA and SWIFT…
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Yes, Online Merchants Are Interested In Crypto Payment Options!
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Merchants are interested in crypto payment options. Gaining new customers and eliminating middlemen are the top two reasons why merchants are interested in accepting cryptocurrency or expanding their crypto payments options, according to “Paying with Cryptocurrency,” a PYMNTS and BitPay collaboration based on a survey of 2,334 consumers and 202…
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Former Worldfirst Executive Oliver Whelan Joins UK Fintech Storfund
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After a six-month search, Storfund has appointed Oliver Whelan, previously Worldfirst Global Head of Enterprise, as Chief Revenue Officer. Whelan, who spent ten years at payments fintech Worldfirst, will be responsible for accelerating Storfund’s rapid and profitable growth. This press release contains multimedia content.
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SellerFunding Launches 2 New Funding Sources For Small Businesses
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E-commerce FinTech company SellersFunding is launching two new working capital products to increase its resources for small businesses. SellersFunding is a digital platform with financial products that streamline global trade across working capital, cross-border cash management, and business valuation markets. The two new products, Invoice Factoring and Purchase Order (PO)…
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Merchant Warning Against Serbian Payment Processor Boom-Bill!
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High-risk merchants often have hard times getting access to the established financial system. A vast global segment of high-risk payment processors is focused on these merchants providing bank accounts and access to credit card networks for high commissions. However, often merchants face trouble getting their money. We have received warnings…