BitMatix: One of Several Payment Ventures Linked to iPayTotal’s Legacy
Background: From iPayTotal to New Payment Brands
In November 2020, a UK court initiated insolvency proceedings against a payment processing firm focused on high-risk industries. Following the shutdown, large sums of client and partner funds remained unaccounted for. The company’s leadership, involved in its previous operations, has since been connected to a network of newly launched platforms active across Europe and India.
Among the businesses believed to have emerged from this network is BitMatix, which, along with other brands like Kryptova, OpenUp, CryptoMatix, and PayStudio, continues to serve the online payments sector.
BitMatix: Company Snapshot
|
Attribute |
Description |
|
Brand Name |
BitMatix |
|
Industry |
High-risk merchant payments |
|
Website |
https://bitmatix.io |
|
Associated Brands |
CryptoMatix, Payomatix, Kryptova, OpenUp, PayStudio |
|
Corporate Entities |
– BitMatix IO Pvt Limited (India, formerly iPayTotal Pvt Ltd) – BitMatix IO Ltd (UK) |
|
Management |
Individuals previously involved in iPayTotal’s operations |
Structure and Operations
BitMatix is operated through two registered companies: one in the UK and another in India. The Indian entity had previously operated under the iPayTotal name. Official documents list individuals formerly associated with iPayTotal among the directors of these firms.
One of the leading figures is reportedly a close family connection to iPayTotal’s prior ownership, and is believed to be managing not only BitMatix but also several other platforms launched after the original company’s closure.
Financial Liabilities and Liquidation Impact
According to publicly available data, the liquidation of the original company left no significant assets. However, outstanding claims from creditors are estimated to exceed £1.1 million, suggesting unresolved liabilities and ongoing concerns regarding the fate of client funds.
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Anyone with insight or supporting material related to BitMatix or other connected payment brands is invited to submit information via Scam-Or Project reporting platform.
This report was produced by Scam-Or Project, an outlet focused on financial transparency and corporate accountability in the online payments industry.
