Payeer
Key Data
- Trading Names: Payeer
- Legal Entity: Payeer UAB, PAYEER E.A.S.
- Activities: FIAT and crypto acquirer, payment platform, merchant service provider
- Location: Paraguay, Lithuania
- Authorization: FNTT (Financial Crime Investigation Service) Lithuania
- Related individuals: Anton Stjopotškin(UBO), Joseph Olatilewa Jaiyeola, Ivan Abramov, Liubov Svezhentseva, Dmitri Allikas, Stanislav Lattu (old)
- News: Payeer
- Latest update: July 11, 2024
Payeer is a crypto payment processor and merchant service provider offering accounts without initial and monthly fees. They provide low transaction fees. The deposit fees are significant at 0.5% for Volet and 4.99% for PerfectMoney. Withdrawal fees are 1.99%.
Payeer used to be operated by Fincana OÜ (companies register), an Estonian company with a crypto license from the Estonian FIU until August 2021. After this company lost its license, the Estonian DEVsoftDOG OÜ was renamed Payeer OÜ and continued to run the high-risk payment processor Payeer with an FIU crypto license. The co-operator used to be Paycorp Limited, a company licensed by the offshore regulator Vanuatu Financial Services Commission (VFSC) as a financial dealer.
Sometime in Q2 2024, the operating entity of the Payeer.com platform switched to Payeer E.A.S., a company registered in Paraguay. Allegedly, this South American entity is registered as a crypto services provider in Paraguay.
The Russian Liubov Svezhentseva used to be registered as a director alongside the Estonian Dmitri Allikas. Since April 2022, Estonian Ivan Abramov has been the only registered nominee director. According to the information available, Payeer is controlled by Russian owners.
Customer Reviews
Payeer users seem to be happy. On Trustpilot, Payeer holds an impressive 4.8-star rating with a corresponding “Excellent” trust level from more than 4,000 reviews.
Compliance Check
On July 11, 2024, the Lithuanian Financial Crime Investigation Service (FCIS) announced that Payeer was found to have breached international sanctions laws for more than 1.5 years and imposed a record fine of more than €8.23 million. During this period, Payeer UAB was found to have had at least 213,000 customers and a revenue of more than 164 million EUR.
Most Russian-speaking traffic comes from high-risk merchants in the financial and gaming sectors. Payeer is one of the payment processors, for example, in the huge earning platforms Ad Asd, Express Wallet, or Taxi Money. The online gaming platform Golden Farm is also one of Payeer’s clients. Millions of Russians visit these platforms every month.
Similarweb says around 35% of Payeer‘s website traffic comes from Russia.
The Conclusion
Payeer is registered as a crypto service provider in Lithuania. However, the beneficial owners are not disclosed and the company works with nominee directors and shareholders. Moreover, we have identified Payeer as a payment processor in several scam environments (Capital Letter group) and thus include it in our “Red Compliance Light” list.
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At first, I was disappointed because I thought I had missed my chance to withdraw my funds.
Payeer may have closed its exchange, but I appreciate how the company handled user concerns afterward. The new platform provided clear instructions, and the account reactivation process was easy to complete. I successfully withdrew my funds and was pleased with the outcome. Thank you for delivering on your promises.
My experience involved some uncertainty due to login issues and limited communication.
The platform migration could have been explained more clearly, but I am happy that my account remained secure. After completing verification on Payeer-co.com, I regained access and successfully withdrew my funds. The outcome was reassuring.
I was pleasantly surprised that even after the migration,
I was pleasantly surprised that even after the migration, all my account information remained accurate and complete. Once I verified my identity on Payeer-co.com, I regained full access immediately. My balance was exactly as expected, and withdrawing my funds was smooth and reliable. Overall, the experience ended positively despite the initial uncertainty.
I honestly did not think this would work. I’ve dealt with so many "recovery" scams that I was guarded,
من هیچ شکایتی ندارم – فقط تحسین میکنم. دستورالعملهای ارائه شده در payeer-co.com به راحتی قابل دنبال کردن بودند و تأیید KYC سرراست بود. من در کمترین زمان کنترل داراییهایم را دوباره به دست گرفتم. به هر کسی که در حال حاضر نگران توکنهای از دست رفته خود است: این فرآیند واقعاً کار میکند. وجوه من امن است و من بالاخره در آرامش هستم.
What a fantastic experience! Payeer-co.com is clearly a team that prioritizes the needs of its users
What a fantastic experience! Payeer-co.com is clearly a team that prioritizes the needs of its users. Receiving 7000$ has provided me with the relief I needed to move on from my previous challenges. I am so glad I found your platform and had the opportunity to work with such a professional group. Thank you for your hard work and for keeping your promises. You have truly made a difference in my life.”
Неопределенность последних нескольких месяцев, несомненно, была
Я ужасно боялась, что потеряла всё навсегда. Эмоциональный стресс от неуверенности в возможности оплачивать счета заставлял меня чувствовать себя так, будто я подвела свою семью. Payeer-co.com полностью изменил это ощущение. Их команда оказала мне необходимую помощь в сложном процессе повторной активации, и они никогда не давали мне почувствовать себя просто очередным номером в очереди. Возвращение денег было не просто транзакцией; это было возвращение к нормальной жизни. Я безмерно благодарна за это решение, даже несмотря на то, что готовлюсь навсегда покинуть криптопространство.
Based on my personal experience,
Based on my personal experience, I was successfully able to regain access to my Payeer account after using the new Payeer website and completing the required account reactivation process. At first, I was concerned because the old website was no longer accessible, but after following the instructions provided on the updated platform, everything went smoothly. Once my account was reactivated, I was able to log in without any issues, view my balance, and successfully withdraw my funds. The entire process was much easier than I expected, and receiving my withdrawal brought me tremendous relief. I appreciate that there was a clear process in place to restore access, and I hope other users carefully follow the required steps to recover their accounts successfully.
Payeer is back . Welcome
Payeer is back now any users that have accounts on payeer should go now any withdrawal they funds Payeer has now enabled withdrawal welcome back again
The unexpected loss of account access during a routine platform update caused me ongoing worry and significant mental distress
unexpected loss of account access during a routine platform update caused me ongoing worry and significant mental distress. Those funds were vital personal reserves that I needed to safeguard at all costs. Relief finally arrived when I came across payeer-co.com, the advanced new version of the platform designed to recover legacy profiles. The platform walked me through a transparent and secure recovery wizard. I was instructed to input my old account credentials into the updated platform portal. The system verified my information successfully on the first try, confirming the validity of the process. I comfortably completed the remaining sequential steps. Ultimately, my full account access was completely restored, allowing me to successfully withdraw all my funds without any further delay.
My worst financial nightmare came true when I realized the biggest mistake I had ever made was to put my family life savings in payeer.com.
My worst financial nightmare came true when I realized the biggest mistake I had ever made was to put my family life savings in payeer.com. I went through months of hell before I could finally secure my funds through payeer-co.com. They mandated a strict reactivation of my account to clear the transfer pipeline. Before taking that necessary step, I prayed earnestly to the almighty Lord, and He answered my petition. I have now successfully withdrawn from the exchange. The operational steps weren’t easy, but the undeniable relief you feel when you overcome them makes it all wort