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High-Risk Payment Processor iPasspay Changes Merchant Processing Due To MasterCard Fines!

Payment processor iPasspay announced a change to its Merchant Procedures on October 13, 2023, effective October 15, 2023. These would reportedly be necessary because there had been some merchants violating MasterCard's terms and iPasspay was penalized as a result. Here is the update.
iPasspay receives fine from MasterCard

iPasspay is a Hong Kong-based high-risk payment processor that offers its services in English and Chinese. The payment processor has a green compliance rating on PayRate42.

Apparently, iPasspay has had to pay penalty to MasterCard because some merchants would have violated the credit card network’s terms and conditions. Therefore, iPasspay has announced a change in its merchant procedures effective October 15, 2023.

These changes may bring changes for some of these, according to an email from iPasspay to its merchants. The details of these possible changes are not learned from the email. However, merchants can contact their account manager or support if they have any questions: support@ipasspay.com.

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