Who is Pago?


One of several sites I run on Internet payment processors is www.payment-processor-ranking.com. Among the recommendations I give there for judging the likely honesty of payment processors is to look for information on their top management. Good if they show name, email address, and photos, especially of the CEO. One payment processor which went bankrupt owing me about 8000 US dollars was Ginix, and up to now, I still don’t know the name of their CEO. I know the name of their Israeli vice president, Ariu Levi, and of many other staff members, but the man at the top has remained anonymous, so it seems, from the beginning. That taught me something.

I have downloaded a collection of photos of Philip Fayer, the PaySystems CEO with the racecar hobby. I have seen and downloaded one photo of Pago's head of risk management, Mark Spangenberg, but the Pago site itself does not show photos of their CEO or other staff. It appears that it was Pago's rather than PaySystem's action that caused the mess. When Pago terminated and locked the third-party processing account of PaySystems, PaySystems stopped paying money that was collected on behalf of me and many other Internet merchants… because the money was locked by Pago and the Deutsche Bank. Whether we will get this money once the Deutsche Bank unlocks it, isn't clear yet. In a similar case with Ginix, the money was used primarily for "operational" losses.

The following information on Pago can be found on their website, pago.de:


Rüdiger Trautmann (CEO)
Dr. Markus Weber (CFO)


Pago eTransaction Services GmbH
Kaltenbornweg 1-3
D - 50679 Köln

Telephone and E-Mail
Fon: +49 221/3208-700
Fax: +49 221/3208-720

The following additional information is from a site with information and services for businesses that make money by enticing people to participate in online gambling: casinovendors.com

Upper Management:

Mr. Ruediger Trautmann, CEO

Sales Contacts:

Mr. Claudius Diehl, International Sales

Mr. Heiko Strauss, International Sales

Marketing Contact:

Mr. Andreas Stefanis, Head of Corporate Communications

Other Contact: Mr. Gerald Cordes, Project Manager

Date Established: January, 1999

Parent Company: Deutsche Bank AG, Beisheim Holding Schweiz AG