Key Data

• Trading Names: Magua Pay, Black Rabbit
• Legal Entity:  Magua Pay INC
• Activities: Small Payment Institution
• Location: Cyprus, Canada
• Regulations: licensed as a Canadian Money Service Business (MSB)
• Key People: Moriel Carmi, Dmitri Orlov
  
• Latest updates: Magua Pay

Magua Pay INC., a Canadian company registered as a Money Service Business (MSB). The company’s registered office address is 555 Burrard St., Office 02-125, Vancouver, BC V7X 1M8.

Magua Pay operates with a Cyprus phone number and thus we conclude that it’s a Cyprus-based venture.

Offering

Magua Pay offers merchants a complete portfolio of payment services, including:

• Credit Card Processing
• Internet Acquiring Solution
• Payment Gateway
• Recurring Billing service
• Multicurrency Processing
• Payment Options
• Prepaid Cards

The main activity of Magua Pay is providing Internet acquiring services for e-commerce merchants.

Fees

not given on the website

Latest Updates

Magua Pay is part of the Estonian SMTM Holding (PC42 profile) and the Black Rabbit (PC42 profile) crypto payment service operator.

For some time now, the websites for the Magua Pay brands have disappeared. The Black Rabbit website (https://brpay.io) has been completely removed from the Internet and the Magua Pay (https://Magua-Pay.com) website is “under construction”. This indicates obvious problems with the payment processor.

Compliance Conclusion

Given its involvement in scam brokers and unauthorized trading schemes, along with the sudden disappearance of its websites, we are downgrading Magua Pay to our Red Compliance List and strongly advising all merchants and retail customers to avoid any dealings with this high-risk payment processor. We are currently investigating whether a downgrade of Magua Pay is necessary due to the unexplained disappearance of Black Rabbit to Black Compliance.