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PayRate42 Rates Centiwise ORANGE in Latest Evaluation of Payment Processors

02-16-2024 02:11 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: PayRate42

PayRate42 Rates Centiwise ORANGE in Latest Evaluation

PayRate42, a leading rating agency specializing in the evaluation of payment processors, has announced its latest assessment of Centiwise, a payment technology company operating under OneXent Technologies Limited based in Kenya. The rating agency, known for its commitment to transparency and consumer protection, has assigned Centiwise an ORANGE rating based on a comprehensive analysis of its operations.

Centiwise specializes in providing payment gateway services with a focus on facilitating secure and efficient payment processing for businesses globally. Despite offering a range of features and services to its clients, PayRate42's critical assessment has revealed areas of concern within Centiwise's compliance profile.

Key Offerings:
Centiwise offers a variety of payment gateway services, including accommodating various payment methods, ensuring secure transactions through compliance with PCI DSS Level 1 and PSD2 standards, enabling global payment acceptance from over 150 countries, providing advanced fraud monitoring and detection tools, and offering an efficient dispute resolution toolkit along with round-the-clock customer support.

Critical Assessment:
However, despite these offerings, PayRate42 has highlighted two critical factors contributing to the ORANGE rating assigned to Centiwise:

Regulatory Status: Centiwise operates in an unregulated environment, which raises concerns about compliance with financial regulations and consumer protection laws.
Customer Reviews: The absence of customer reviews may indicate a lack of transparency or a limited track record in the market.
Conclusion:
In light of these critical factors, PayRate42 has downgraded Centiwise to an ORANGE rating. While the evaluation did not uncover any direct negative issues with Centiwise, the identified concerns regarding regulatory compliance and transparency have led to this rating adjustment.

For more information on PayRate42's rating process or inquiries about Centiwise's rating, please contact (www.payrate42.com)

8 The Green
19901 City of Dover
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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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