Key Data

• Trading Name: Contiant
• Legal Entity: Contiant Ldt 
• Activities: Open Banking Services Provider
• Location: Bulgaria
• Regulations: unregulated
• Key People: Dimitar Kostov and Ivo Dimitrov
• News: Contiant
• Latest update: 2 Aug, 2024

Background:

Content is an open banking service provider specializing in payment initiation and account information services, The platform is operated by the Bulgarian entity Contiant EOOD (Contiant Ltd).

Financial Situation:

According to the information provided on its website, Contiant is co-financed by the European Structural and Investment Funds under the Operational Programme for Innovation and Competitiveness 2014-2020, which is managed by the Fund of Funds in Bulgaria through an investment by Morningside Hill Capital Management.

Offering:

Contiant’s platform is designed to offer businesses a secure, efficient, and cost-effective way for merchants to accept payments.

The company markets its service with slogans such as avoiding chargeback with instant payments via open banking. Chargebacks are one of the biggest problems in the high-risk industry.

Industries:

Low to High Risk: iGaming and forex, lending, crypto, PSP, eCommerce, wealth management.

Compliance Check:

Contiant is an unregulated open banking fintech.

The website provides all the required information about the operating entity.

We have discovered Contiant as a payment facilitator at illegally operating offshore casinos, which indicates weaknesses in the compliance system.

People:

• Key individuals include Dimitar Kostov (Linkedin), Iliana Donova (Linkedin) and Ivo Dimitro (Linkedin) 
• All 3 previously held high positions in the eMerchantPay Ldt.

Short Narrative

eMerchantPay is certainly no stranger to the scene of high-risk payment processors and scam facilitators. Gal Barak‘s collapsed cybercrime organization has already laundered money through it. The FCA-regulated eMerchantpay Ltd, via its eZeeWallet scheme, is a prominent payment facilitator in the online casino segment. The company’s auditor resigned in 2023 due to significant doubts about accounting and governance.

Customer Review:

As of now, there are no available customer reviews, and the web presence appears to be minimal, limiting the ability to gauge user satisfaction or concerns.

Rating Conclusion

Contiant’s open banking services offer a wide range of offerings for various industries, from low to high risk. However, its lack of regulatory oversight, limited online reputation, proximity and connection to eMerchantPay and lack of customer reviews give potential users pause for thought. We therefore rate it ORANGE.