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Type Privately held company
Industry Financial services
Founded 2007 (2007)
Founders Kingsley Chibuzor Aguoru
Headquarters London, United Kingdom
Area served Worldwide
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.[1][2][3]


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.[4][5][6][7] 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.[7][3]

3W Sentry security technology[edit]

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.[7][8][9][10][3][1][11][12][3]


  1. ^ a b Melody Wigdahl (24 July 2013). "UseMyServices Partners With Global Ecom/Mobile Payments Network, Paymenex". Online Payment News. Retrieved 2013-08-22. 
  2. ^ Paymenex. "About Paymenex United Kingdom". Paymenex. Retrieved 2013-08-22. 
  3. ^ a b c d Samna Ghani (2013). "Facilitating online transactions with Paymenex and xWallet". Capital Liberty News. Retrieved 2011-08-29. 
  4. ^ The UK Payment Administration Ltd. "'Fraud the Facts 2010". Financial Fraud Action UK. Retrieved 2013-08-22. 
  5. ^ Payment Council UK (2010). "Annual Security and Fraud Review 2010". Payment Council UK. Retrieved 2011-04-05. 
  6. ^ Devon and Cornwall Police. "'Spot and Stop Card Fraud". Devon and Cornwall Police. Retrieved 2013-08-22. 
  7. ^ a b c Paymenex. "'Paymenex History and Milestone". Paymenex. Retrieved 2013-08-21. 
  8. ^ Shaun Gill (28 June 2010). "Paymenex: A Safe and Secure way to pay Online". Hosting Geek. Retrieved 2013-08-22. 
  9. ^ Paymenteye. "Paymenex". Paymenteye. Retrieved 2013-08-22. 
  10. ^ HumanIPO (2012-10-02). "Globa to introduce prepaid money vouchers in Ghana". Humanipo. Retrieved 2013-08-22. 
  11. ^ Paymenex. "xWallet Mobile Application". Paymenex. Retrieved 2013-08-22. 
  12. ^ Mobile Commerce. "UseMyServices Partners With Global Ecom/Mobile Payments Network, Paymenex". Mobile Commerce. Retrieved 2013-08-22. 

External links[edit]