SpicePay is the trading style of Spice Pay B.V., registered in the Netherlands. Allegedly, the company has been founded by Kiril Marinov. Other sources claim that SpicePay is registered in Belize, which we cannot confirm.
It is a global bitcoin exchange and payment gateway operator enabling merchants to accept payments in Bitcoin and other cryptocurrencies. The payment processor addresses merchants in the EU and offers them the automatic exchange of digital assets into the FIAT currencies USD, EUR, GBP, or CAD.
Merchants can withdraw by wire transfer, SEPA, or PayPal. SpicePay’s online retail, eCommerce, billing, and donation tools enable users to accept blockchain payments from customers worldwide in Bitcoin and other cryptocurrencies.
SpicePay promises a fast fulfillment for EU merchants: “Merchants in the EU can access funds in less than 24 hours, as opposed to 72 hours with payments by credit card.” It provides services mainly to the South American, East European and South Asian markets, but the gateways such as wire transfer ensure that SpicePay can be used anywhere in the world.
The fact that the company’s social media profiles are partially inactive or have not been updated for years leads us to believe that something may be problematic here.
Therefore we rate SpicePay on Orange.