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PayRate42 Reviews and Lists AltPayNet

06-11-2024 01:27 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: PayRate42

AltPayNet has been critically reviewed and listed by PayRate42, a leading payment rating agency. The review revealed significant areas for improvement, raising concerns about the transparency and regulatory adherence of AltPayNet's operations. While the company offers secure and scalable payment processing services, the lack of detailed information about regulatory oversight and key management personnel, coupled with recent ethical concerns

Offerings:
AltPayNet specializes in secure, scalable, and efficient transaction processing.

Customer Reviews:
There are limited reviews on major platforms such as Indeed and Glassdoor. Available summaries indicate a challenging work environment with interesting projects, though some criticisms highlight management practices, particularly in IT.

Serving Industries:
AltPayNet serves diverse industries including e-commerce, retail, travel, hospitality, gaming, and financial services.

Regulation:
AltPayNet lacks specific information about financial regulators on their website. Despite adhering to PCI DSS Level 1 standards, there are no details on regulatory oversight.

Paradise Papers:
The Paradise Papers reveal offshore financial activities involving AltPayNet and its shareholder, raising concerns.

Conclusion and Rating:
Due to recent revelations and compliance concerns, PayRate42 is downgrading AltPayNet to a red status and issuing a cautionary compliance report. This reflects significant risks in transparency, regulatory adherence, and corporate governance.

For more details, visit:

https://payrate42.com/listings/altpaynet/

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.

8 The Green
19901 City of Dover
Delaware
United States

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