Key Data

• Trading Name: FaucetPay
• Legal Entity: WALP Entertainment SRL
• Activities: crypto payment and earnings platform
• Location: Costa Rica
• Authorization: No
  
• Related individuals: not disclosed

We have discovered FaucetPay as a crypto payment processor at some Russian high-risk merchants. The platform is operated by WALP Entertainment SRL in Costa Rica but is probably controlled by Russians.

The Offering

FaucetPay offers crypto payment services as well as crypto-earning opportunities for its registered members. For example, one can earn cryptos by participating in surveys or clicking on advertisements as well as by playing games.

The Conclusion

The company is not licensed as a payment processor. In addition, the unlicensed online casino Pasino and the unlicensed crypto investment site Feyorr are also operated via WALP Entertainment SRL. There are no details about the beneficial owners. We, therefore, put FaucetPay on our “Black Compliance” list and advise merchants to be cautious.