NomuPay the New WireCard Scam Allegations Fact-checked (2024)
NomuPay, backed by Finch Capital, acquired several companies from the now-defunct Wirecard in 2021. Among them is also Wirecard Turkey. In 2011, Ruediger Trautmann and Dietmar Knoechelmann, two Wirecard executives, introduced Payabl, which operated as PowerCash21 until 2022. Payabl, which leverages the Wirecard business model with online gambling, porn, and investment merchants, is growing rapidly, while NomuPay is developing extremely slowly.
Reluctantly, former Wirecard CEO Markus Braun acknowledged that the company’s expansion was mostly fueled by payments from the gambling and porn industries.
Indeed, Dietmar Knoechelmann, the co-founder of Payabl, laid the groundwork for the German fintech’s global expansion when he sold his gaming industry-focused Gateway Payment Solutions Holdings and G two Pay to Wirecard in 2006.
Later, Knoechelmann renamed the companies it had bought as Wirecard Payment Solutions Holdings Limited and Wirecard UK and Ireland Limited. Up until 2009, Koechelmann served as Wirecard Payments Solutions’ CEO.
Later, as a payment facilitator, Wirecard UK and Ireland was deeply involved in the fraudulent binary options market. The Cartu Brothers’ GreyMountain Management Limited (GMM), which hundreds of millions of euros’ worth of investors went through, was one of the most significant partners.were processed
A Short Analysis of NomuPay
More over a million visitors visited Payabl’s many websites in the final 28 days leading up to March 20, 2022, according to Similarweb. Visits to Payabl’s website have increased from Q1 2022. We are aware that Similarweb statistics are only able to provide a very small amount of company information. However, there are hints regarding the inclination. Online casinos like GreatWin or Lucky Dreams, online trading platforms like RoboForex, and pornographic websites like xHamsterLive or StripChat are the main drivers of the expansion. Upon restarting, Payabl seems to be a Wirecard.
In contrast, less than 80,000 individuals visited the two NomuPay websites (NomuPay.com and NomuPay.com.tr) throughout the course of the previous 28 days, with a tendency toward decline. The number of visitors to NomuPay’s global website is less than 5,000. Only the Turkish website has had at least some traffic, with 73,000 visitors. Apparently, NomuPay does not have any merchants from the gambling or porn sector, which might also be a bit difficult in Turkey.
More over a million visitors visited Payabl’s many websites in the final 28 days leading up to March 20, 2022, according to Similarweb. Visits to Payabl’s website have increased from Q1 2022. We are aware that Similarweb statistics are only able to provide a very small amount of company information. However, there are hints regarding the inclination. Online casinos like GreatWin or Lucky Dreams, online trading platforms like RoboForex, and pornographic websites like xHamsterLive or StripChat are the main drivers of the expansion. Upon restarting, Payabl seems to be a Wirecard.
