Scam-or Project continues to observe the aftermath and transformation of iPayTotal, a British-Indian high-risk payment processor that faced court-ordered liquidation. Although the original company was shut down, new ventures have emerged under the guidance of co-founder Ruchi Rathor. Let’s take a closer look at the evolving structure of this payment network and its related businesses.
Background and Collapse
In October 2020, the UK High Court of Justice ordered the insolvency of iPayTotal Ltd. A year later, iPaySolutions Ltd, considered a successor to the original firm, also filed for liquidation. However, this did not mark the end of the brand’s operations.
Rather than disappearing entirely, iPayTotal has rebranded and shifted its focus. Now operating under IPT Solutions PT in Portugal, the group manages new initiatives like CryptoMatix, a crypto payment platform still associated with Ruchi Rathor.
Brand Overview
Primary Brand Name:
The central entity in this ecosystem is iPayTotal, a well-known name in the high-risk payment processing sector.
Connected Brands:
Several other labels are associated with iPayTotal’s operations, including OctaPay and the crypto-focused CryptoMatix.
Online Presence
The group’s activities are reflected through a wide range of domains, such as:
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ipaytotal.com
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ipaytotal.global
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ipaytotal.solutions
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ipaytotal.group
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cryptomatix.io
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octapay.net
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octaypay.fund
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octapay.tech
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octapay.com.br
These websites have supported both traditional high-risk processing and digital asset transactions under different brand umbrellas.
Legal Entities
Throughout its evolution, iPayTotal has operated through multiple legal entities across different jurisdictions. These include:
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United Kingdom:
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iPayTotal Ltd (no longer active, liquidated)
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iPaySolutions Ltd (also liquidated)
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Portugal:
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IPT – Solutions PT (currently active)
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Estonia:
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iPayTotal UÜ
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Lithuania:
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iPayTotal Group UAB
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United States (Delaware):
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iPayTotal LLC
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India:
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iPayTotal Pvt Ltd
Individuals Involved
Key figures linked to the iPayTotal ecosystem include:
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Ruchi Rathor
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Madhumita Singh
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Anurag Pratap Singh
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Aditya Williams
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Sen Kugan (Senthooran Kuganathan)
These individuals have been associated with the operational and managerial structure of various related companies.
Current Activities and Structure
Despite legal closures in the UK, iPayTotal’s operations persist. The presence of CryptoMatix indicates the group remains active within the high-risk and crypto payments space.
Many signs—such as contact information and LinkedIn activity—point to London as the operational hub. Meanwhile, the Indian entity, iPayTotal Pvt Ltd, appears to manage the FinTech software and consulting segment.
Functionally, the organization seems to have maintained the same model as its predecessor, with minimal changes apart from updated branding and legal wrappers.
It is likely that iPayTotal, through its affiliates or via partnerships, continues to support additional payment platforms besides CryptoMatix.
Status of Global Entities
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UK-based companies have been shut down through insolvency procedures.
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Entities in Estonia, Lithuania, Portugal, and India remain operational.
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Sen Kugan, the final director of the UK operation, is reportedly no longer traceable. Several former iPayTotal personnel have also removed their LinkedIn profiles.
Call for Information
We encourage individuals with relevant details regarding iPayTotal’s operations, affiliated companies, or involved personnel to share information confidentially. Tips can be submitted through the Whistle42 reporting platform.