Back in March 2021, we reported on the abrupt disappearance of OctaPay, a high-risk payment processor widely believed to be a successor to the notorious Indo-British processor iPayTotal. Both entities allegedly vanished while holding onto significant funds belonging to their merchant clients. In February 2021, Octapay Limited filed for a voluntary strike-off in the UK — a request that was later suspended by Companies House.
Now, whistleblowers have alerted us that a new version of OctaPay, operating under a different domain and branding, is active in Brazil, once again offering high-risk payment processing services. The exact relationship between the original UK-based OctaPay and its Brazilian counterpart remains unclear.
The Disappearance of OctaPay UK
The UK-based version of OctaPay was an unlicensed payment processor with strong ties to the iPayTotal network — a group known for enabling scam operations under the guise of providing financial services. The founder and listed director of OctaPay in the UK was Madhumita Madhumita (formerly Madhumita Singh), who resigned from her role in March 2021. Following this, OctaPay’s websites and LinkedIn profiles vanished without explanation.
This entity was part of a wider web involving iPayTotal, operated by a network of individuals including Madhumita Singh, Anurag Pratap Singh, Aditya Williams, Ruchi Rathor, and Sen Kugan. The timing of OctaPay UK’s disappearance — and the near-immediate appearance of its Brazilian variant — raises questions about continuity and intent, though a direct connection is yet to be confirmed.
The iPayTotal Collapse
In October 2020, the UK High Court ordered the dissolution of iPayTotal Ltd. However, operations appeared to continue via another UK-registered company, iPaySolutions Ltd, managed by Senthooran Kuganathan (a.k.a. Sen Kugan). This entity too was placed into liquidation in October 2021, with all online presence subsequently disappearing.
Despite this, the iPayTotal brand persists — notably through IPT – Solutions PT, a Portuguese entity that still runs the website www.ipaytotal.global. Notably, Brazil is one of the key Portuguese-speaking markets targeted by this operation — a detail shared by the new OctaPay operating there. Whether this is coincidence or evidence of deeper connections remains to be seen.
Call for Information
If you have any knowledge about either version of OctaPay or the broader iPayTotal operation, we encourage you to submit tips via our confidential reporting platform, Whistle42.
