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.
📊 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
📌 Payabl.cy Limited is a Cyprus-regulated payment institution, founded in Germany and Cyprus around 2010 under the name PowerCash21.
📌 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
🔴 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.
🔴 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.
🔴 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.
📌 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
📌 PowerCash21 Limited, registered in Cyprus, was active while both Trautmann and Knoechelmann were executives at Wirecard.
📌 The Zatarra Wirecard Report suggests that Inatec, another high-risk payment processor, was secretly controlled by Wirecard while Knoechelmann and Trautmann were still executives.
💥 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
📌 Ayelet Fruchtlander Knoechelmann co-founded Payabl alongside her husband Dietmar Knoechelmann and Ruediger Trautmann.
📌 Ruediger Trautmann is currently the CEO of Payabl Solutions GmbH (Germany).
📌 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
💰 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.