SegPay Called out for suspicious activity
The Financial Services Commission has today issued a warning to the public regarding the above-named entities and associated websites.
During the course of its investigations, the FSC has noted online references that indicate that SegPay is a trading name used by Segregated Payments Limited, a Gibraltar company, which describe it as an Internet Payment Service Provider (IPSP). The SegPay websites also appear to have been configured in such a way that these are also associated with the word ‘Gibraltar’ although the word itself does not feature on the web domains themselves. Segregated Payments Limited may therefore be carrying on payment services activities in or from within Gibraltar. Segregated Payments Limited is not regulated by the FSC, nor licensed under the Financial Services (EEA) (Payment Services) Regulations 2010, to carry on payment services activities in or from within Gibraltar. The FSC therefore urges the public to exercise appropriate caution in respect of these entities, whilst it continues its investigations. People are able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities Search" section on our website at http://www.fsc.gi/fsclists/Search.aspx. Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager, Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi http://www.fsc.gi/enforcement/fscwarning0040.htm |
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Seapay, their slogan should be " the new ibill". |
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There has been a pretty endless parade of odd billing companies out there. You can find them with addresses that point to mailbox rental places, small homes in the UK, and all over the place. It's been a favorite technique of the cross billing crowd to not only have the most merchant accounts possible, but also to insulate themselves from problems as much as possible by owning not only the paysites and programs, but also the billing companies and the IPSPs as a result.
It's actually a bit like ESTdomains in this manner - try to control as many of the places that people will go to complain, and try to minimize the risk to your core business by wrapping yourself like an onion. |
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Im guessing how it will end. |
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Who in their right fucking mind would use Paxum. I know, just use it as a pass through and withdraw the money as soon as you get it. But, they are a penis pill company. They sell snake oil. None of them have experience with wallet type sites / credit card processing stuff. There is a 100% chance they will crash and burn. It might take a little longer, but as soon as they actually get big enough to fuck up on a large scale, their shit is going to implode. |
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Im waiting for this one to implode, surprised they made it this long to be honest. It should be any day now. |
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