FinTelegram issued a merchant warning against the high-risk payment processor PayStudio operated by the Portuguese Synopsis Success LDA. This legal entity has the same address as the high-risk payment processor CryptoMatix by Ruchi Rathor, who seems to be one of the beneficial owners or controlling people.
PayStudio bills itself as a payment processor and white-label payment gateway provider. Whistleblowers informed FinTelegram that PayStudio is indeed part of Ruchi Rathor‘s vast global network of high-risk payment processors. Rathor was also one of the founders and mastermind behind the collapsed iPayTotal, which collapsed and disappeared with millions of its merchants.
A LinkedIn profile screenshot from February 2022 shows that Rathor presented herself as the founder of iPayTotal, Payomatix, and CryptoMatix. She has since removed iPayTotal and CryptoMatix from her LinkedIn profile.