Explosive Growth: Payabl Emerges as the Leading High-Risk Payment Processor

According to Similarweb’s September 2022 statistics, Payabl (formerly PowerCash21) has seen a tenfold surge in website traffic during Q3 2022, skyrocketing from 15,000 to nearly 140,000 visitors.

📊 Traffic Breakdown:
🔹 55%+ of visitors originate from porn sites
🔹 35%+ of visitors come from gambling, betting, and lottery platforms

With these numbers, Payabl appears to have effectively replaced the collapsed Wirecard as Germany’s leading high-risk payment processor, according to Similarweb analytics.

Key Data

• Trading Names:
  • Payabl
  • PowerCash21
  • PowerPay21
• Domains:
  • https://payabl.com
• Legal Entities:
  • Payabl.cy Limited, Cyprus
    (previously PowerCash21 Limited, E.E.A. Multicurrency Card Payment Processing Ltd)
• Jurisdictions:
  • Cyprus, Germany
• Regulator:
  • Central Bank of Cyprus (Payment Authority)
• Key Individuals:
  • Ruediger Trautmann (LinkedIn)
  • Dietmar Knoechelmann
  • Ayelet (Fruchtlander) Knoechelmann (LinkedIn)
  • Nissim Zarfati (LinkedIn)
  • Frank Schoonbaert (LinkedIn)
  • Ugne Buraciene (LinkedIn)

A Legacy of High-Risk Payment Processing

📌 Payabl.cy Limited is a Cyprus-regulated payment institution, founded in Germany and Cyprus around 2010 under the name PowerCash21.
📌 The company was established by former Wirecard executives Ruediger Trautmann, Ayelet Fruchtlander Knoechelmann, Frank Schoonbaert, and Israeli businessman Nissim Zarfati.

Before joining Wirecard, the Payabl founders were already running high-risk payment processing for gambling merchants. Various reports indicate that Trautmann and Knoechelmann brought their high-risk expertise to Wirecard, which generated a significant share of its revenue from porn, gambling, and online trading.

Israeli Conviction: The Dark Past of Payabl’s Co-Founder

🔴 Dietmar Knoechelmann, co-founder of Payabl, was convicted in Israel in 2016 for his role in the Israel Credit Cards Cal Ltd (ICC-Cal) money laundering scandal.
🔴 He pleaded guilty to facilitating illegal online gambling payments for U.S. customers between 2006 and 2010 while serving as CEO of Wirecard Payment Solutions.
🔴 His conviction involved deceiving Visa, Mastercard, and U.S. authorities by processing tens of millions of dollars in illicit gambling payments.

Wirecard’s Shadow: Payabl’s Business Model Mirrors Its Predecessor

📌 Similarweb data confirms that Payabl continues Wirecard’s high-risk legacy.
📌 55%+ of traffic originates from porn sites, while 35%+ comes from online gambling and betting platforms.
📌 Audience analysis shows that the majority of Payabl’s users are involved in porn and gambling transactions.

The Wirecard Satellite Network: Payabl’s Expansion

📌 PowerCash21 Limited, registered in Cyprus, was active while both Trautmann and Knoechelmann were executives at Wirecard.
📌 The Zatarra Wirecard Report suggests that Inatec, another high-risk payment processor, was secretly controlled by Wirecard while Knoechelmann and Trautmann were still executives.

💥 Merger Alert: In April 2022, Inatec Solutions GmbH merged into Payabl Solutions GmbH, consolidating former Wirecard satellite companies under the Payabl Group umbrella.

Key Players at Payabl

📌 Ayelet Fruchtlander Knoechelmann co-founded Payabl alongside her husband Dietmar Knoechelmann and Ruediger Trautmann.
📌 Ruediger Trautmann is currently the CEO of Payabl Solutions GmbH (Germany).
📌 Ugne Buraciene presents herself as CEO of the Payabl Group and also serves as:

• Cyprus Country Ambassador for the European Women Payments Network (EWPN)
• Advisor at Klarpay

The Klarpay Connection

💰 Payabl Group has expanded its footprint by leading a CHF 3 million investment in the Swiss-Cyprus fintech Klarpay.

Share Your Information

We are actively investigating Payabl, Wirecard, and the individuals involved. If you have any relevant details, please share them through our whistleblower platform, Whistle42.