β€” This company is the biggest scam in the Payment Processing industry

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a verified customer
Verified customer

This company is the biggest scam in the Payment Processing industry. This company was first established in China under the name HK Yintong. It usually serves high risk Merchants such as, but is not limited to Online Gambling, Porn Sites and Online Drug Retail (selling pharmaceuticals).

The sister company was recently opened in the Philippines, under the name Asia Ecommerce Network Technology Inc. (AENT), with the sole purpose of sharing the said merchants (over 7000 and counting) in processing online payments. AENT is not PCI-DSS compliant, and has been claiming to have several banks as their acquiring partners, such as local banks BDO and BPI. Under all the hoopla, what they actually apply with these banks are Merchant accounts, which shows up as them being a legit Merchant, with their clients payments "funneled" into this said account.

They have been deceiving both the public and businesses, with claims that they are indeed legitimate, and that the information that passes through them is secure. PCI-DSS certification is one of the industry's leading authority in Credit Card security compliance. All the claims with the said authority, is false, and it's a big wonder how they managed to secure a certificate.

With all those said above, problems such as high charges are passed on to merchants, late processing and frequent declines cause not only problems and inconvenience to customers, but as to Banks as well.

To all those who have heard, or better yet, planning to deal with this company, please be warned.

The names that they use are the following :

HK Yintong

As of writing, several Banks and Authorities (such as VISA and MasterCard) are currently investigating this company.

Again, be warned.

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  • Ka
    KatLim Jun 21, 2012
    This comment was posted by
    a verified customer
    Verified customer

    Small update!

    After being down for about a month, the company is under a new name, despite being under the same malicious management.

    Visit their website and see for yourself!

    They forgot to change their "mother" company's name, which is HK YinTong Telecom Payment Ltd.

    To potential merchants and customers, be warned.


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