PayRate42 News logo

Merchant Alert: High-Risk Payment Processor BitMatix Applied For Voluntary Strike-Off!

The high-risk payment processor BitMatix is part of Ruchi Rathor's network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.

The high-risk payment processor BitMatix is part of Ruchi Rathor‘s network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.

Key Data

Trading nameBitMatix
Business activitiesHigh-risk payment processor
Domainhttps://bitmatix.io
Legal entitiesBitMatix IO Pvt Limited (prev. iPayTotal Pvt Ltd), India
BitMatix IO Ltd, UK
BitMatix Inc.
Related individualsRuchi Rathor (India)
Anurag Pratap Singh (India)
Anirudh Pratap Singh Rathor (India)
Yuvraj Singh (India)
Chhavi Mishra (India)
Related schemesCryptoMatix, PayoMatix,
Kryptova, PayPound, PayStudio,
Pay Agency

Short Narrative

High-risk payment processor BitMatix on FinTelegram

BitMatix is just one of the iPayTotal successor schemes. There is also CryptoMatix, Payomatix, and the affiliated Kryptova. Merchants should stay far away from them to avoid financial losses.

BitMatix is operated through UK-registered Bitmatix IO Ltd as well as India-registered Bitmatix IO Pvt Limited (formerly iPayTotal Pvt Ltd). Yuvraj Singh, an Indian, is installed as the director and owner of the UK entity. The directors of the Indian company are Ruchi Rathi and Anurag Pratap Singh. The latter is being sought by the liquidators of iPayTotal Ltd for the purpose of answering unanswered questions surrounding the missing funds and assets.

As reported by FinTelegram, there are no funds in iPayTotal Ltd but at least GBP 1.1 million of claims from creditors.

Share Information

If you have any information about BitMatix, CryptoMatix, PayoMatix, Kryptova, or any other schemes of the mentioned operators, please share it with us via our whistleblower system, Whistle42.

Share information with FinTelegram

Share:

More Posts

CyberRating Agency PayRate42 announced new compliance criteria for crypto firms

Attention: New Crypto Regulations Prompt New Compliance Criteria At PayRate42!

Cryptocurrencies have been gaining popularity in recent years, with many investors and businesses turning to them as a means of payment and investment. However, with the rise in use of cryptocurrencies, there has also been an increase in regulatory scrutiny. Recently, new crypto regulations have been introduced, prompting CyberRating agency PayRate42 to implement new compliance criteria.

Wise with impressive performance and confirmed Green Compliance rating

FinTech Wise with impressive performance! PayRate42 confirms Green Compliance rating!

PayRate42, the leading cyber rating agency, has recently updated the profile of UK-based fintech giant Wise, reaffirming its “Green Compliance” rating. This update follows Wise’s impressive half-year financial results, showcasing a substantial increase in profits and revenue, driven by favorable interest rates and a surge in customer engagement.

Dutch crypto exchange Bitvavo receives regulatory approval

Dutch Crypto Exchange Bitvavo Received Approval Of Austrian Regulator FMA!

Many experts and investors are preparing for the next crypto bull run expected before the halving in Q2 2024. The approval of US crypto ETFs is also expected, which should pump a lot of money into the crypto segment. Just in time for the expected take-off, the Dutch Bitvavo has received another regulatory license in Austria.

Update on payment processor NomuPay

Update On Payment Processor NomuPay

NomuPay is certainly one of the most interesting high-risk payment processors in Europe. Not because of its technology or its business, but because it has taken over important parts of the Wirecard business and allegedly also parts of the now closed Payvision. Here is an update.