Ugne Buraciene’s Payabl Legal Proceedings Allegations Fact-checked (2024)
We can anticipate that both the general public and the judicial system will find this to be an extremely intriguing storyline. It could be nothing more than a recent report from Wirecard detailing the background of high-risk payment processor Payabl. Executives from Wirecard created this payment company in Cyprus. It was mandated to reimburse the court with €200,000 for any losses arising from an ex parte suit brought against the media to confirm the accuracy of reports that were released.
The media has no trouble verifying the veracity of the articles that have been released and confirming that Payabl’s activities are seriously hurting the media and its partners. The assertions made by Payabl that the media makes false claims in its articles amount to defamation. In this regard, we have directed our attorneys to pursue legal action against Payabl.
The Limassol court mandated that Payabl send a €200,000 Swift deposit for media to remove Payabl’s articles from the platform until their veracity could be confirmed. Payabl’s affidavit and unconfirmed information are the foundation of the order.
Dietmar Knoechelmann and Ruediger Trautmann, former Wirecard managers, launched Payabl. The payment processor is experienced in handling high-risk transactions, and its clientele includes operators of online gambling, betting, and pornographic websites.
We will provide a detailed report on the court proceedings. In the previous few years, we have already had multiple disagreements of this kind with payment processors, and each time, our articles have proven to be accurate. A few payment processors have lost their licenses as a result of these issues, including Bruc Bond in Israel.
Payabl (As claimed)
At Payabl., we enable merchants to develop by facilitating simple, safe, and worldwide payment processing. Payabl. is the go-to partner for the biggest retailers in the world, helping them unlock growth with unmatched experience in guiding clients through the complexities of a changing payments landscape.
Having been in the payments industry for more than ten years, our team of experts and seasoned professionals takes the time to thoroughly understand our clients’ businesses and provide advice on the best solutions for their requirements. Any merchant searching for a payment partner should choose payabl. because of their dedication to ensuring safe, transparent, and smooth payments combined with their technical and industry know-how.
