Merchant Warning: PayStudio – Another Dubious High-Risk Processor Linked to Ruchi Rathor

Subheadings:

• Overview of the PayStudio Discovery

• Known Connections and Key Data

• Background on Ruchi Rathor’s Operations

• Caution for High-Risk Merchants

• How to Report Suspicious Processors

Overview of the PayStudio Discovery

According to multiple whistleblower reports, PayStudio has surfaced as yet another high-risk payment processing entity tied to the notorious British-Indian entrepreneur Ruchi Rathor. The processor is currently used for credit and debit card deposits on the fraudulent broker platform soltechX.

PayStudio is operated by Synopsis Success LDA, a Portugal-based company that shares its registered address with CryptoMatix, another processor associated with Rathor. Reports suggest that Rathor and her close associates are now using Portuguese entities to run their global high-risk payment schemes.

Known Connections and Key Data

Background on Ruchi Rathor’s Operations

On its official site, PayStudio claims to be a white-label gateway and payment processor—mirroring the former business model of iPayTotal, a now-defunct enterprise that vanished along with millions in merchant funds. Rathor, a central figure in iPayTotal, has been consistently linked to a series of successor ventures following its collapse.

Numerous whistleblowers have revealed that Rathor and her team utilize fabricated identities on LinkedIn to project a legitimate business image. She has strategically updated her own LinkedIn profile to distance herself from previously failed schemes. For example, a screenshot from early 2022 showed her presenting herself as the founder of iPayTotal, Payomatix, and CryptoMatix—though mentions of iPayTotal and CryptoMatix have since been scrubbed.

Caution for High-Risk Merchants

It is well understood that high-risk merchants often struggle to secure reliable payment processors. This desperation is frequently exploited by unethical operators like Rathor. Many merchants, due to the nature of their business, are unable or unwilling to pursue legal remedies when defrauded.

We urge all merchants to conduct thorough due diligence and avoid entering agreements with entities such as PayStudio, no matter how limited the alternatives may seem.

How to Report Suspicious Processors

If you possess any information regarding PayStudio, Ruchi Rathor, or related operations, you are encouraged to report anonymously through the Scam-Or Project Whistleblower system.

Disclaimer: This investigation is supported by contributions from whistleblowers. Our appreciation goes to those who help uncover hidden networks of cyber-fraud. For further analysis, refer to related investigations published by the Scam-Or Project.