Press release
RatEx42 Downgrades Magua Pay to Red - Further Review Underway
This decision is based on several key factors:
Black Rabbit No Longer Accessible: The brand Black Rabbit, operated under Magua Pay, has gone offline without any official explanation. Due to this lack of transparency, RatEx42 has already downgraded Black Rabbit to Black.
Magua Pay Website Under Construction: The official website of Magua Pay is currently in "Under Construction" mode, with no prior announcement or explanation from the company.
Review of TomPay: Magua Pay is part of the SMTM Holding, which also includes the FCA-regulated TomPay. Since TomPay reported significant financial losses in 2022 and 2023, it is also under closer scrutiny.
RatEx42 will continue monitoring the situation and will take further action if necessary based on new findings.
For more information:
Black Rabbit: https://ratex42.com/listings/black-rabbit/
Magua Pay: https://ratex42.com/listings/magua-pay/
8 The Green
19901 City of Dover
Delaware
United States
RatEx42 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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