|Type||Privately held company|
|Founders||Kingsley Chibuzor Aguoru|
|Headquarters||London, United Kingdom|
|Products||Payment Network, Payment Processor, EBPP, Card, Mobile Money, E-Money, xWallet Mobile|
Paymenex is a universal electronic payments technology that enables users to make electronic payment on the internet through an open membership and multichannel interchange network operated by a consortium of Paymenex Regional Administrators worldwide and used by its members to deliver a range of electronic money products to their customers.
Paymenex started in 2005 as a piece of academic graduate research investigation at the Computer Science Department of the University of Liverpool into the causes of card not present fraud in United Kingdom as reported in the Fraud the Facts periodic publication of The UK Payments Administration Ltd which confirmed a 13 year continuous increase in card not present fraud losses in United Kingdom from £6 million in 1995 to £328.4 million in 2008. The academic research was turned into a commercial product in 2007 by a group of scientists, security engineers and researchers from United Kingdom, United States and India.
3W Sentry security technology
3W Sentry authentication security protocol is a new academic innovation discovered through a joint research investigation in information security, payment card fraud and quality assurance at the University of Liverpool and University of East London with prime objective to boost the trust and confidence of its members, merchants and account holders by providing feasible online payment fraud solution by exchanging card holder's personal information with a 3W Sentry Card Security range of dynamic time-factored codes during payment so that only the security features of the card is used to make payment.
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