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payspacelv.com - any opinion on these guys?

Leon

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Feb 5, 2020
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Hey again!

I found a very small PSP company - based in Lettland and almost no real reviews or ratings. Just 3 Trustpilot reviews with no indication on fraud (one guy said they did "steal" 26k from him but you find those reviews at any PSP). The support is fast and they told me that they can process payments for us, but the non-working phone number made me suspicious. Any experience with this company here? In general: would you recommend to work with those small PSPs?

Looking forward!
 
@Leon please let us know if you found alternatives
i am looking up payscalelv as well,
strangely this site seems very similar to this one
There are many alternatives. When you are incorporated in Hong Kong or Asia you can go with Asia Bill or Oceanpayment if they accept you. The best provider for alternative payments is Mollie, but unfortunately they only work with EU company’s. But if you have a EU company and bank account in the same country, the KYC is easy as f***. I don’t know you business setup, revenue and industry, so i can’t give a specific recommendation. Which payment methods are you looking for?
 
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Why don’t you just go through their payment process and check which third party company’s are connected to their api? That’s how I research my competitors psp’s. Mollie is a very solid funded payment provider, they only work with EU company’s (low to medium risk) but if you get a merchant account there they are the way to go. You can compare the KYC / setup process and also their general Risk policy to stripe: no email ping pong over 3 months with tons of questions, no required stack of documents. Also the settlements are daily / weekly (depending on the payment method) and from what I know they usually don’t rolling reserve funds like PayPal (at least not such insane percentages). But if they find out that your company is fishy or not 100% legit they kick you and freeze your payouts. I am going to use them only use them for iDEAL and Bancontact with a UK LLC.

I did also applied at Asiabill, but there are my second choice because they are not so established (only 9m$ yearly revenue) and just have not such a good feeling with them. But anyway they are for me 100x more trustworthy then payspacelv, I also know a competitor using them.

In Dropshipping we are scaling many times very fast and very hard, and i don‘t think that they can live with this. I also did hear that they settle insane rolling reserves and I just don’t want to go through this after PayPal.

Oceanpayments seems also legit, but I didn’t get a answer now. They have their offices in HK & China, maybe because Coronavirus.
 
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Did you try 2co?
I doubt they will accept crypto business, but if someone approach them and they confirm to do processing for crypto then please let us know here.
 
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