The Transactworld & Paymentz Network And Illegal Broker Schemes

Paymentz and Transactworld network

The vast Zoo Broker Scam network uses its own crypto payment service provider ExchangeITonline as well as the Payment Gateway Solutions Private Limited, an Indian-registered white-label payment solution provider which operated the Paymentz (www.paymentz.com). On the website, no reference is given to the beneficial owners or managers.

In fact, Paymentz is beneficially owned by the two Indian citizens Amoolya Harshad Vassa (LinkedIn profile) and Anupam Harshad Vassa (LinkedIn profile) The two are also controlling the Transactworld Limited, a payment service provider (PSP) registered and licensed in the UK by the Financial Conduct Authority (FCA). According to its corporate documents, its shares are held by the Hong Kong-registered Transactworld Limited.

The Estonian Blonde Bear OÜ, one of the companies of the Zoo Broker Scam network, was registered as a merchant by Paymentz and processed credit card payments from EasyTrade and FXtrade777 clients. Financial market supervisory authorities have issued warnings against both broker sides.

In any case, it is interesting that the beneficial owners behind Transactworld Limited, which is registered in the UK as a payment service provider, become involved via the unlicensed trading brand Paymentz as PSP for illegal Forex & crypto scam brokers. Evidently, they operate different brands for different purposes.

Paymentz is not the only PSP supporting the Zoo Broker Scam network. UPayCard or Voguepay are also part of the scam game. FinTelegram already reached out the Vassa’s to learn more about their business with the Zoo Broker Scam network.