Breaking News – High-Risk Payment Processor iPayTotal Shuts Down Operations
iPayTotal Ceases Business Activities
iPayTotal, widely regarded as one of the most controversial high-risk payment processors, appears to have shut down permanently. This information is displayed on the website www.ipaytotal.com, operated by the British-Indian venture. This closure is not unexpected. Back in November 2020, the UK High Court of Justice ordered the dissolution of iPayTotal Ltd. Following this, the business operations were transferred to iPaySolutions Ltd., with Sen Kugan (also known as Senthooran Kuganathan) appointed as director and registered as the beneficial owner. Now, it seems the company is finally ending its journey, leaving numerous high-risk merchants anticipating their unpaid funds.
Website Status and Merchant Concerns
Currently, the website www.ipaytotal.solutions is offline. Meanwhile, www.ipaytotal.com states that “all pending payments of existing customers should be done” within 40 days. The exact meaning of this statement remains unclear. It is assumed that many of these “existing customers” may never receive their funds. iPayTotal has been notorious for withholding merchant payouts and refusing to release funds.
Summary of Current Situation
|
Aspect |
Details |
|
Company |
iPayTotal Ltd. |
|
Director |
Sen Kugan (Senthooran Kuganathan) |
|
Website Status |
ipaytotal.solutions – offline; ipaytotal.com – closing notice |
|
Court Decision |
UK High Court of Justice ordered dissolution in November 2020 |
|
Customer Impact |
High-risk merchants unlikely to recover funds |
Scam-or Project Investigations
Scam-Or Project has consistently reported over the past years that iPayTotal was involved in supporting scams and facilitating money laundering activities. In response to these exposures, iPayTotal’s legal representatives threatened lawsuits (full report available). The exit of this payment processor marks positive news for consumers and investors. However, it is important to note that hundreds of other unscrupulous payment processors remain active in the sector.
Call for Merchant Experiences
Scam-Or Project will continue its investigations and provide further updates. If you are an iPayTotal merchant, we encourage you to share your experiences with us. Additionally, if you have not received your payments from iPayTotal, please contact us with details.
Stay tuned for further developments.
