Key Data

• Trading Name: AxxonPay
• Legal Entity: Axxonpay payments LTD (not existent)
• Activities: Payment solutions provide
• Location: London, UK
• Regulations: fake EMI authorization 
• Key People: not given 

AxxonPay acts as a payment solutions provider and direct acquirer of bank cards for high-risk merchants.

It was founded in London in 2023 with the aim of facilitating connectivity between businesses and fintech startups operating in areas such as foreign exchange and gambling. The company claims to be present in four offices around the world and employs over 700 people.

Offering

They offer a range of payment services including Visa, Mastercard, JCB, UnionPay and alternative payment methods to customers around the world.

Their payment gateway is designed to enable an omnichannel payment process that combines acquiring capabilities, over 100 payment methods, mass payouts, and technology innovations into a single, seamless integration.

Their service includes:

• Accepting payments
• Receiving payments from cards
• Alternative payment methods
• IBAN accounts

Branches

They are active in the high risk branche (gambling, forex, dating, gaming…)

Fees

not disclosed on the website

A lot of warnings

We assert that Axxonpay is a fraudulent company due to the following reasons:

Firstly, the legal entity Axxonpay payments LTD cannot be found on open corporates and companies house register, which raises doubts about its existence.

Secondly, their EMI (Electronic Money Institution) license from the FCP (Financial Conduct Authority) in the UK appears to be false as the FCA issues such licenses in the United Kingdom, and the legitimacy of the company’s legal entity has already been questioned.

Thirdly, their website contains numerous errors, such as referring to themselves as both AxxonPay and AxonPay, which undermines their credibility.

Lastly, Axxonpay claims to have over 700 employees despite only being in existence since 2023, which is a highly unlikely and dubious claim. No press releases or media reports can be found regarding the company, and a comparison with Bitpanda, a unicorn company with a workforce of 730 people, shows that such a large workforce for a four-month-old company is implausible.

Conclusion

Based on the above factors, we have concluded that Axxonpay is likely a fraudulent company and therefore we rate them on BLACK and strongly advise against cooperation.