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PayRate42 Flags Compliance Concerns with Libernetix, Rates as "RED"

02-12-2024 01:05 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: PayRate42

PayRate42 Flags Compliance Concerns with Libernetix, Rates as

PayRate42, the premier authority in rating payment processors, has completed a comprehensive assessment of Libernetix, an integrated payment solution provider based in London. PayRate42, known for its commitment to safeguarding merchants and consumers through transparent evaluation, has highlighted significant compliance issues with Libernetix, resulting in a "RED" rating.

Libernetix offers a comprehensive payment tool designed to streamline operations for businesses, boasting features such as card acquiring, payment gateway, analytics & reporting, anti-fraud system, and merchant dashboard. However, PayRate42's scrutiny has revealed troubling compliance deficiencies within the company.

Despite its claims to provide robust compliance information and adherence to regulatory standards, Libernetix's regulatory status remains ambiguous. The absence of transparency regarding regulatory compliance raises serious concerns about the company's commitment to industry standards and legal requirements.

Key individuals associated with Libernetix, namely Konstantin Margolis and Alexander Savy, have failed to provide adequate details regarding their roles within the organization and their compliance responsibilities, further contributing to the opacity surrounding the company's compliance framework.

Moreover, customer feedback, as reflected by a limited number of reviews on Trustpilot, paints a mixed picture with a rating of 4.2 stars based on 6 reviews. However, the scarcity of reviews impedes a comprehensive assessment of Libernetix's reliability and customer satisfaction.

In light of these compliance deficiencies, PayRate42 rates Libernetix as "RED" in its compliance profile. This rating underscores significant concerns regarding the company's transparency, regulatory compliance, and overall trustworthiness. Businesses are advised to exercise caution when engaging with Libernetix until further information regarding their compliance status and customer satisfaction becomes available.

PayRate42 website: (www.payrate42.com)

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Press contact: office@payrate42.com

PayRate42 is a rating agency specializing in payment processors. Our main goal is to protect merchants and consumers by providing transparency through the evaluation and rating of financial service providers. High-Risk Payment Processors (HRPP) operating outside the established regulatory framework are our primary focus.

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