According to Similarweb’s September 2022 statistics, Payabl (formerly PowerCash21) has seen a tenfold surge in website traffic during Q3 2022, skyrocketing from 15,000 to nearly 140,000 visitors.
đź“Š Traffic Breakdown:
🔹 55%+ of visitors originate from porn sites
🔹 35%+ of visitors come from gambling, betting, and lottery platforms
With these numbers, Payabl appears to have effectively replaced the collapsed Wirecard as Germany’s leading high-risk payment processor, according to Similarweb analytics.
Key Data
- Trading Names:
- Payabl
- PowerCash21
- PowerPay21
- Domains:
- Legal Entities:
- Payabl.cy Limited, Cyprus
(previously PowerCash21 Limited, E.E.A. Multicurrency Card Payment Processing Ltd)
- Payabl.cy Limited, Cyprus
- Jurisdictions:
- Cyprus, Germany
- Regulator:
- Central Bank of Cyprus (Payment Authority)
- Key Individuals:
A Legacy of High-Risk Payment Processing
đź“Ś Payabl.cy Limited is a Cyprus-regulated payment institution, founded in Germany and Cyprus around 2010 under the name PowerCash21.
đź“Ś The company was established by former Wirecard executives Ruediger Trautmann, Ayelet Fruchtlander Knoechelmann, Frank Schoonbaert, and Israeli businessman Nissim Zarfati.
Before joining Wirecard, the Payabl founders were already running high-risk payment processing for gambling merchants. Various reports indicate that Trautmann and Knoechelmann brought their high-risk expertise to Wirecard, which generated a significant share of its revenue from porn, gambling, and online trading.
Israeli Conviction: The Dark Past of Payabl’s Co-Founder
đź”´ Dietmar Knoechelmann, co-founder of Payabl, was convicted in Israel in 2016 for his role in the Israel Credit Cards Cal Ltd (ICC-Cal) money laundering scandal.
đź”´ He pleaded guilty to facilitating illegal online gambling payments for U.S. customers between 2006 and 2010 while serving as CEO of Wirecard Payment Solutions.
đź”´ His conviction involved deceiving Visa, Mastercard, and U.S. authorities by processing tens of millions of dollars in illicit gambling payments.
Wirecard’s Shadow: Payabl’s Business Model Mirrors Its Predecessor
📌 Similarweb data confirms that Payabl continues Wirecard’s high-risk legacy.
đź“Ś 55%+ of traffic originates from porn sites, while 35%+ comes from online gambling and betting platforms.
📌 Audience analysis shows that the majority of Payabl’s users are involved in porn and gambling transactions.
The Wirecard Satellite Network: Payabl’s Expansion
đź“Ś PowerCash21 Limited, registered in Cyprus, was active while both Trautmann and Knoechelmann were executives at Wirecard.
đź“Ś The Zatarra Wirecard Report suggests that Inatec, another high-risk payment processor, was secretly controlled by Wirecard while Knoechelmann and Trautmann were still executives.
đź’Ą Merger Alert: In April 2022, Inatec Solutions GmbH merged into Payabl Solutions GmbH, consolidating former Wirecard satellite companies under the Payabl Group umbrella.
Key Players at Payabl
đź“Ś Ayelet Fruchtlander Knoechelmann co-founded Payabl alongside her husband Dietmar Knoechelmann and Ruediger Trautmann.
đź“Ś Ruediger Trautmann is currently the CEO of Payabl Solutions GmbH (Germany).
đź“Ś Ugne Buraciene presents herself as CEO of the Payabl Group and also serves as:
- Cyprus Country Ambassador for the European Women Payments Network (EWPN)
- Advisor at Klarpay
The Klarpay Connection
đź’° Payabl Group has expanded its footprint by leading a CHF 3 million investment in the Swiss-Cyprus fintech Klarpay.
Share Your Information
We are actively investigating Payabl, Wirecard, and the individuals involved. If you have any relevant details, please share them through our whistleblower platform, Whistle42.