Press release
Call for Whistleblowers: Uncovering the Truth Behind CASHlib and ByPin Prepaid Voucher Schemes!
Key Issues with CASHlib
Opaque Ownership and Licensing:
Berry Solutions Limited, a Maltese payment orchestrator, owns the domain name CASHlib.com and the tradename CASHlib. However, Berry Solutions' website does not disclose any relationship with CASHlib, casting doubts on the scheme's legitimacy. The domain and tradename CASHlib are licensed to multiple entities, including Sureswipe EMI PLC and E-Money Distributors (EMD) such as Fenix Technology SAS (FENIX) and Prepaid Optimal Solutions SA (POS). Notably, Sureswipe EMI PLC, operating as Revsto, does not list CASHlib among its products and services, further obscuring the true nature of these relationships.
Additional Concerns with ByPin:
Berry Solutions also owns the domain ByPin.com and the trademark ByPin, another prepaid voucher scheme. These assets are similarly licensed to Sureswipe EMI PLC and Fenix Technology SAS (FENIX). However, neither Sureswipe EMI nor Berry Solutions disclose this information on their websites. The presence of misspelled company names on these sites could indicate either intentional deception or oversight.
Compliance and Regulatory Gaps:
According to the terms, CASHlib is operated by Sureswipe EMI PLC, an e-money institution authorized by the Central Bank of Cyprus. However, the lack of transparent information about CASHlib's operational approach and structure poses significant compliance concerns. Sureswipe EMI, under CEO Helen Varnava, offers e-money services to private customers and entrepreneurs, yet the absence of clear information on CASHlib's website raises red flags.
Customer Feedback:
As of June 23, 2024, CASHlib has not claimed its Trustpilot profile and holds a 2-star rating with a poor trust level based on 19 reviews.
Association with High-Risk Industries:
CASHlib serves high-risk industries, including Online-Spiele, Glücksspiele, and entertainment. Reviews specifically mention CASHlib's involvement with the illegal Online-Spiele und Glücksspiele scheme Atlantis Slots, which operates without a valid gaming license in the EEA. This association with unlicensed platforms highlights significant compliance and legal concerns.
Call for Information
Given the involvement of CASHlib in potentially illegal Online-Spiele und Glücksspiele activities and its opaque operational structure, PayRate42 has placed CASHlib on their Red Compliance list and Orange Risk list. This categorization indicates a high level of user risk and necessitates caution for anyone considering transactions with CASHlib.
We are seeking additional information from insiders about the CASHlib and ByPin schemes and their operators. Your insights could help clarify the legitimacy and compliance of these services. If you have any relevant information, please contact us confidentially.
Read More about CASHlib and ByPin:
www.PayRate42.com
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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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