In recent developments, PayRate42 has highlighted the troubling disappearance of the ByPin e-voucher system. ByPin, operated by Berry Solutions Ltd, a Maltese-registered company, has been placed on the Red Compliance and Red Risk lists by the cyberfinance rating agency PayRate42. This follows our recent review of e-voucher schemes CASHlib and ByPin, both of which were subsequently added to the PayRate42 Red Compliance List.
ByPin Website Unavailability
For the past few days, visitors to the ByPin homepage (ByPin.online) have encountered a 503 error message, indicating that the website is temporarily unavailable. The sudden disappearance of the ByPin website raises significant questions about the stability and transparency of the e-voucher system, which is frequently utilized in high-risk segments, including online casinos, sports betting, and gambling.
Background and Licensing
Berry Solutions Ltd. operates ByPin and CASHlib. This entity has licensed the ByPin domain and brand to various companies, including Sureswipe E.M.I. PLC. Sureswipe, authorized as an e-money institution in Cyprus, provides e-money services for both ByPin and CASHlib schemes. These e-voucher systems serve as popular payment options for merchants operating in high-risk sectors, raising potential compliance and risk issues.
Sureswipe E.M.I. Review
In light of the recent developments, we urge readers to refer to our comprehensive review of Sureswipe E.M.I. This Cypriot e-money institution’s business model relies heavily on licensing domains and brands from its EMD agents to service high-risk merchants while its own Revsto brand remains minimally active. Our review underscores the non-transparent licensing system and the need for greater regulatory scrutiny.