Key Data

• Trading Name: TransactWorld
• Legal Entity: TransactWorld Limited
• Activities: payment gateway solution
• Location: Cyprus
• Regulations: authorized EMI agent working under Payswix, UAB
• Key People:Anupam Vassa (LinkedIn)
  Amoolya Vassa (LinkedIn)
  Mubashir Patel (LinkedIn)
  Raj Agarwal (LinkedIn)
  Minesh Vaishali Mehta
  Hima Shah

TransactWorld, part of the Transactworld Group, provides a payment gateway solution that is an essential infrastructure component for the card-not-present industry.

While the FCA-regulated Transactworld Limited used to be a client of the Lithuanian-regulated GlobalNetint UAB, the unregulated Cypriot Transactworld Limited operates the website www.transactworld.com as an authorized agent (intermediary) for the regulated Lithuanian GlobalNetint UAB d/b/a payswix since June 2019.

The unregulated Indian Paymentz Gateway Solutions Pvt. Ltd. operates its website with the triangle logo under the domain www.paymentz.com. All three websites are basically more or less identical.

Offering

The TW4 platform provides a link between merchants and financial institutions and is a central doorway to global markets. Cyprus based TransactWorld enables global transactions in a SIMPLE, SECURE, SWIFT and SCALABLE infrastructure.

Their main service includes:

• PAYMENT GATEWAY
• DIGITAL WALLET
• RISK TRACKER
• MERCHANT BOARDING
• INVOICING APP

Customer review

Regrettably, no customer reviews or feedback pertaining to the company have been sourced thus far.

Regulation

Transactworld Limited (acting under trading name “Transactworld”) is an authorized EMI agent working under Payswix, UAB (acting under trading name “payswix”) license (Nr. 21) and supervised by Central Bank of Lithuania for the distribution and redemption of electronic money.

People

Anupam Vassa (LinkedIn)
Amoolya Vassa (LinkedIn)
Mubashir Patel (LinkedIn)
Raj Agarwal (LinkedIn)
Minesh Vaishali Mehta
Hima Shah

Compliance Problem

In May 2019 FinTelegram uncovered that the Indian payment processor Paymentz facilitated the huge Zoo Broker Scam Network. Paymentz is a part of the Transactworld Group of the Indian brothers Anupam Vassa and Amoolya Vassa. This group operates with several legal entities across different jurisdictions The UK entity Transactworld Limited is an FCA-authorized E-Money Institution, and the Cyprus-based Transactworld Limited is an agent of GlobalNetint UAB d/b/a payswix, an EMI regulated by the Bank of Lithuania. We would like to learn more about this network.

Conclusion

Due to their involvement in the Zoo Broker Scam Network and the lack of customer reviews, we rate TransactWorld as RED.