Radar / Payment processor / gateway
Payabl
Payment processor / gateway Cyprus payabl.com ↗ Full listing
Reviewed 2026-10-21
Our verdict
High risk
We found serious problems with this provider.
- The CBC published a €350,000 administrative AML fine against payabl.CY Ltd (formerly Powercash21 Ltd). It was decided on 30 Sept 2025 and published on 3 Oct 2025, and …
- Reports name Roteral Ltd (Ireland) as the 100% parent of payabl.CY, and trade press (FinTelegram) alleges historic links to former Wirecard-related individuals. The same …
- Specialist outlet FinTelegram repeatedly reports that payabl. serves high-risk merchants (adult, gambling, online trading). It also alleges links to former Wirecard …
What should I do?
- Do not send money, card details or ID documents.
- If you already paid: contact your bank or card issuer at once and ask for a chargeback.
- Report the provider to your financial regulator or the police.
Based on public sources at the date of review. Not a finding that the company acted unlawfully; the company can respond below.
About
Key Data Trading Name: Payabl (Payabl.) Legal Entities: Payabl.cy Ltd Activities: high-risk payment processor Location: Cyprus, Germany Regulations: regulated Key People: Ugne Buraciene, Sean Forward, Dietmar Knoechelmann, Ruediger Trautmann Payabl (previously Powercash21) is a regulated Payments Institution and merchant service provider specializing in acquiring, issuing, and mobile Payments with a license granted by the Central Bank of Cyprus with license…
Read more
Key Data Trading Name: Payabl (Payabl.) Legal Entities: Payabl.cy Ltd Activities: high-risk payment processor Location: Cyprus, Germany Regulations: regulated Key People: Ugne Buraciene, Sean Forward, Dietmar Knoechelmann, Ruediger Trautmann Payabl (previously Powercash21) is a regulated Payments Institution and merchant service provider specializing in acquiring, issuing, and mobile Payments with a license granted by the Central Bank of Cyprus with license…
The full check
🪪LicenceLicensing & registrationOK
Several independent media outlets report that the CBC granted payabl. an EMI licence (Jan 2024), and the CBC fine record confirms CBC supervises the entity. The company cites PI licence 115.1.2.9/2018 and reg. no. HE289380, and a UK affiliate with FCA EMI 967259. I did not check the CBC and FCA registers directly, so the register entries should be confirmed.
👥Who owns itOwnership & controlCaution
Reports name Roteral Ltd (Ireland) as the 100% parent of payabl.CY, and trade press (FinTelegram) alleges historic links to former Wirecard-related individuals. The same reports say the CBC imposed restrictions at shareholder level. The group structure and beneficial owners are not clearly published by the company. Previously listed people (Knoechelmann, Trautmann etc.) could not be confirmed as current directors from a register.
🏦Where your money goesBanking & payment chainNot checked yet
Not yet assessed.
⚖️Regulator actionsRegulatory actionsProblem
The CBC published a €350,000 administrative AML fine against payabl.CY Ltd (formerly Powercash21 Ltd). It was decided on 30 Sept 2025 and published on 3 Oct 2025, and relates to an examination covering 2020. The company registered an appeal (No. 1405/2025) before the Administrative Court on 12 Dec 2025. Audited accounts of the parent reportedly disclose a CBC dividend prohibition on payabl.CY from Oct 2025 (reported by FinTelegram, not seen on a CBC primary page).
📰News & reputationAdverse media & OSINTCaution
Specialist outlet FinTelegram repeatedly reports that payabl. serves high-risk merchants (adult, gambling, online trading). It also alleges links to former Wirecard managers and that a past binary-options scheme and an offshore broker used its services. These are allegations by a single specialist publisher, plus the EFRI report, not findings by authorities against the company.
💬Customer experienceCustomer conductNot checked yet
Not yet assessed.
How we rate: methodology.
Similar providers
Licences & registrations
| Regulator / register | Type | Number | Status |
|---|---|---|---|
| Central Bank of Cyprus | Electronic Money Institution (EMI) – payabl.CY Ltd | Active | |
| Central Bank of Cyprus | Payment Institution (PI) – payabl.CY Ltd (operating until full EMI activation, per company) | 115.1.2.9/2018 | Active |
| FCA (UK) | EMI – payabl. (UK) Limited (company-stated; not verified on FCA register) | 967259 | Active |
People & network
People (public registers)
- Ugne Buraciene · Group CEO · source
Version history
- 2026-10-21 Red signal Automated re-check
- 2026-10-21 Insufficient data Listed, not yet assessed
Are you Payabl?
You can respond to this profile at any time, free of charge: send a statement for publication or ask us to correct a fact. Please include sources. We review every request and record the outcome.