Key Data

• Trading Name: BP Wallet
• Legal Entity: SM WALLET SRL
  Setara LLC
• Activities: Web-based wallet
• Location: not given
• Regulations: none
• Key People: not given

BP Wallet is a group made up of online retail, banking and payment system professionals from the US, Asia, and Africa

A few months ago they claim to be a new way for merchants to get paid. BP Wallet uses its PB Token to let its merchants receive payments from their clients.

Offering

They operate a web-based wallet ecosystem designed to enable transactions between customers and merchants. Both customer and merchant accounts have access to a comprehensive dashboard that provides reports on all orders and transactions, as well as account balance and status information.

They provide an independent record of all payments and orders, so they can help resolve problems and disputes between trading partners, shipping companies and card companies

Fees

not given

Conclusion

We identified BP Wallet in the WAM Capital broker scam. Officially, the scam victims purchase a BP token which is then transferred to WAM Capital (or the corresponding FIAT value). So the BP Token is a means of payment for scam ventures and/or high-risk merchants? We don’t know yet!

Due to the unclear nature of the BP Wallet business and its involvement in scams, we included the payment processor in our “Red Compliance Light” list.