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Posts tagged as “PraxisPay”

Pradexx – Another dodgy payment processing platform for high-risk business

The number of Israeli FinTechs is obviously going towards infinity. By law, financial service providers are to be the guardians of the global financial system. They have the respective responsibility. Therefore, financial law stipulate that the beneficial owners and managers of financial service providers (a) must be identified and known and (b) must be fit for the financial business. Owners and managers of financial services providers are subject to more stringent requirements and scrutiny. For good reasons. Very few of the FinTech start-ups, however, even meet the minimum regulatory requirements. The Israeli payment processor Pradexx belongs to this category.

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