Key Data

• Trading Name: Payssion
• Legal Entities: not disclosed
  
• Activities: Payment gateway
  
• Location: Hong Kong
  
• Regulations: no authorization
  
• Key People: not disclosed
  
• Latest news: Payssion
• Latest update: July 16, 2024

Background

Payssion is a high-risk payment processor that is operated anonymously. The website does not provide any information about the operators. In the terms and conditions, only Hong Kong is stated as the responsible jurisdiction.

Financial Background

We have no information about Payssion’s financial situation. Due to anonymity, it is not possible to determine this. This is a red flag.

The Offering

Payssion’s payment solution is primarily aimed at high-risk merchants. A careful merchant would not work with Payssion due to its anonymity. Payssion promises to integrate a wide range of payment options and payment processors into its gateway. Simple integration into the merchant’s web platform is also promised.

According to the website, Payssion does not charge a set-up fee, ongoing monthly fees, or a minimum withdrawal amount.

Customer Feedback

On Trustpilot, Payssion has a 2.3-star rating with a corresponding “Poor” trust level as of July 24, 2024. There are many authentic-looking 1-star ratings with complaints about payments and credits not being received. Most recently, there have been mainly 1-star ratings.

Compliance Check

Payssion has no authorization known to us to act as a payment processor. There is no information about the operator on the website, which means that the company is in breach of various laws regarding the disclosure of the operator.

Rating Conclusion

Due to the lack of information about the operators, we have placed Payssion on the Red Compliance List. We have also placed Payssion on the Red Risk List due to the lack of information on the company’s financial resources and the poor ratings from customers. We advise merchants to be cautious with Payssion.