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 that the Serbian high-risk payment processor Boom-Bill, a/k/a BoomBill, would not pay out its merchants.
The Serbian entity Boom Financial Management d.o.o. d/b/a BoomBill was founded in Belgrade in March 2021 by Serbian Bozidar Vukmanovic with a share capital of RSD 10,000 and focused on “super-high-risk” merchants. The payment processor offers merchant accounts for “hard to place & high-risk businesses.”
Whistleblowers report that there are issues with BoomBill paying out to merchants. We cannot verify this at this time but warn all Merchants to be cautious. In 9 out of 10 cases, such whistleblower reports are accurate.