Resurfacing in Brazil: The Mysterious Comeback of Vanished High-Risk Processor OctaPay

Introduction: OctaPay Reappears in a New Form

In March 2021, Scam-Or Project reported the sudden disappearance of OctaPay, a high-risk payment processor believed to be a successor to the notorious Indo-British firm iPayTotal, which collapsed amid allegations of vanishing with merchants’ funds. OctaPay Limited also seemed to follow suit, filing for voluntary strike-off with the UK’s Companies House in February 2021—a request that was subsequently suspended.

However, recent whistleblower information indicates that OctaPay has not disappeared entirely. A new version of the payment processor has emerged in Brazil, under a different domain and branding, but seemingly offering the same high-risk services.

Key Facts at a Glance

The Vanishing Act: OctaPay UK

The original UK-based OctaPay operated as an unregulated high-risk processor. It became known for allegedly enabling scam operations, with Madhumita Madhumita (formerly Madhumita Singh) listed as its founding director and shareholder. She resigned from her position in March 2021. Around the same time, all associated websites and LinkedIn accounts related to OctaPay were taken offline.

This British entity was reportedly part of a larger ecosystem tied to iPayTotal, which included individuals such as:

• Madhumita Singh

• Anurag Pratap Singh

• Aditya Williams

• Ruchi Rathor

• Sen Kugan (Senthooran Kuganathan)

A Brazilian Revival: OctaPay’s New Chapter

Shortly after the UK exit, a new OctaPay operation began surfacing in Brazil, operating under the name Octapay Soluções em Pagamentos Online LTDA. This version functions similarly—providing unregulated high-risk payment services.

Whether the Brazilian and UK versions of OctaPay are part of a coordinated strategy or merely share the same name remains unconfirmed.

Connection to iPayTotal’s Ongoing Activities

Following the October 2020 insolvency ruling by the UK High Court against iPayTotal Ltd, the operations were seemingly transferred to another UK entity, iPaySolutions Ltd, led by Sen Kugan. However, this entity also filed for liquidation in October 2021, after which all online presences vanished.

Meanwhile, a Portugal-based company, IPT – SOLUTIONS PT, continues to operate under the brand with the website www.ipaytotal.global. Given that Brazil is a Portuguese-speaking nation, this overlap with OctaPay’s new market may not be entirely coincidental.

Help Us Uncover the Truth

If you possess any additional information about either the original UK-based OctaPay or its Brazilian counterpart, or if you have insights into the continuing operations of iPayTotal, we encourage you to submit your report via our whistleblower section.

Submit Your Information to Scam-Or Project to contribute to ongoing investigations into the global high-risk payment ecosystem.