Key Data

• Trading Name: CASHlib (related to ByPin)
• Legal Entity: Sureswipe EMI PLC, Fenix Technology SAS, Prepaid Optimal Solutions SA, Berry Solutions Limited
• Activities: Online Payments without needing a Bank
• Location: Malta
• Regulations: Sureswipe EMI PLC, regulated by the Central Bank of Cyprus as an E-Money Institution
• Key People: Yiannos Christofides, Shavasb Bohdjalian, George Christofides, Yervant Bohdjalian

CASHlib is a service that provides prepaid vouchers for online payments without requiring a bank account or credit card.

Berry Solutions is also the owner of the domain ByPin.com and the trademark ByPin. This is also a prepaid voucher scheme.

CASHlib Offering

CASHlib offers prepaid vouchers that can be used for online payments. These vouchers provide a secure and anonymous way to make transactions without presenting bank account or credit card information to the merchant. CASHlib vouchers are distributed via a system of online and stationary retailers and work in a similar way to the PaySafe Card. The vouchers can be bought with credit/debit cards and PayPal online and, additionally, cash at stationary retailers.

Compliance Check

According to the terms, Cashlib is operated by Sureswipe E.M.I PLC, an e-money institution authorized by the Central Bank of Cyprus as an electronic money institution. However, the domain and the trading name belong to Berry SA in Malta. Overall, the CASHlib network is not very transparent.

• Domain Ownership and Licensing:
  • Berry Solutions Limited, a payment company registered in Malta, owns the domain name and tradename CASHlib.
  • These assets (domain and tradename) are licensed to multiple entities: Sureswipe EMI PLC, Fenix Technology SA, and Prepaid Optimal Solutions SA.
• Entities and Registration:
  • Fenix Technology SAS (FENIX) is registered in Paris;
  • Prepaid Optimal Solutions SA (POS) is registered in Luxembourg;
  • FENIX and POS function as E-money Distributors (EMD) for Sureswipe E.M.I. PLC.
• Operating Entity:
  • Sureswipe E.M.I. PLC, registered in Cyprus, authorized by the Central Bank of Cyprus as an E-Money Institution.

Customer Review

As of June 23, 2024, CASHlib has not claimed its Trustpilot profile and has a 2-star rating there with a poor trust level of 19 reviews.

Serving Industries

CASHlib serves various industries, primarily focusing on high-risk industries, including online gaming, gambling, and entertainment. Their prepaid vouchers are designed for secure and anonymous transactions, making them popular for online casinos, gaming platforms, and other digital entertainment services. Users can purchase vouchers and use them to pay on websites that accept CASHlib, ensuring privacy and security without the need for a bank account or credit card.

Offshore Casinos

CASHlib is mentioned in a review of the illegal online casino Atlantis Slots, which operates without a valid gambling license in the EEA. The casino uses various payment processors, including CASHlib, to facilitate its transactions. These processors support deposits and withdrawals, enabling Atlantis Slots to continue its operations despite regulatory issues. The review highlights significant compliance and legal concerns, urging caution for users interacting with such platforms.

Conclusion

Due to its involvement in illegal online casino and gambling activities as a payment processor, and, additionally, its opaque structure, we include CASHlib in our Red Compliance list. This association with unlicensed and potentially fraudulent platforms poses a significant user risk. Therefore, we recommend exercising caution and verifying the legality of platforms using CASHlib before conducting any transactions. Consequently, we included CASHlib in our Orange Risk list.