FinTelegram has reported several times on the collapse of the notorious British-Indian high-risk payment processor iPayTotal. In October 2020, the UK High Court of Justice ordered the insolvency and liquidation of iPayTotal Ltd. In October 2021, the successor company iPaySolutions Ltd also filed for liquidation. Since then, iPayTotal has been relabeled into a FinTech software company operated by IPT Solutions PT, Portugal, which also runs the crypto payment platform CryptoMatix with iPayTotal co-founder Ruchi Rathor. Here is the update!
|Related entities||iPayTotal Ltd (UK) – insolvency|
iPaySolutions Ltd (UK) – insolvency
IPT – Solutions PT (Portugal)
iPayTotal UÜ (Estonia)
iPayTotal Group UAB (Lithuania)
iPayTotal LLC (Delaware)
iPayTotal Pvt Ltd (India)
|Related individuals||Ruchi Rathor, Madhumita Singh, |
Anurag Pratap Singh, Aditya Williams,
Ruchi Rathor, and Sen Kugan.
What is certain is that iPayTotal is still active in the payment scene, as CryptoMatix proves. The operational center of the Indo-British group is probably still in London, as the given phone numbers and LinkedIn contacts suggest. In addition, iPayTotal also runs a FinTech software and consulting business, most likely through iPayTotal Pvt Ltd in India. This is the very same situation as in the “old” iPayTotal configuration. Nothing changed here except a few entities, logos, and social media accounts.
We assume that iPayTotal operates other payment processors besides CryptoMatix, either directly or through partners.
The iPayTotal entities in the UK are now closed. On the other hand, the legal entities in Estonia, Lithuania, Portugal, and India are still active. Senthooran Kuganathan a/k/a Sen Kugan, the last director of the UK activities, vanished. He has also deleted his LinkedIn profile, according to reports on FinTelegram, as did several other former iPayTotal managers.
We would like to know more about iPayTotal‘s activities, entities, and people. If you have any pertinent information, please share it with us through our whistleblower system, Whistle42.