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Ugne Buraciene’s Payabl Faced Legal Proceedings (2024 Update)


The public and the courts are going to find this to be a very interesting narrative. It might be nothing more than a fresh Wirecard article revealing the history of Payabl, a high-risk payment processor. This payment company was formed in Cyprus by former Wirecard executives. It was required to pay the court €200,000 to cover any damages resulting from an ex parte lawsuit filed against media to validate the veracity of stories that were published.

The media has no trouble verifying the veracity of the articles that have been released and confirming that Payabl’s activities are seriously hurting the media and its partners. The assertions made by Payabl that the media makes false claims in its articles amount to defamation. In this regard, we have directed our attorneys to pursue legal action against Payabl.

The Limassol court mandated that Payabl send a €200,000 Swift deposit in order for media to remove Payabl’s articles from the platform until their veracity could be confirmed. Payabl’s affidavit and unconfirmed information are the foundation of the order.

Dietmar Knoechelmann and Ruediger Trautmann, former Wirecard managers, launched Payabl. The payment processor is experienced in handling high-risk transactions, and its clientele includes operators of online gambling, betting, and pornographic websites.

We will provide a detailed report on the court proceedings. In the previous few years, we have already had multiple disagreements of this kind with payment processors, and each time, our articles have proven to be accurate. A few payment processors have lost their licences as a result of these issues, including Bruc Bond in Israel.

Payabl (As claimed)

At Payabl., we enable merchants to develop by facilitating simple, safe, and worldwide payment processing. Payabl. is the go-to partner for the biggest retailers in the world, helping them unlock growth with unmatched experience in guiding clients through the complexities of a changing payments landscape.

Having been in the payments industry for more than ten years, our team of experts and seasoned professionals takes the time to thoroughly understand our clients’ businesses and provide advice on the best solutions for their requirements. Any merchant searching for a payment partner should choose payabl. because of their dedication for ensuring safe, transparent, and smooth payments combined with their technical and industry know-how.

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