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pspangels.com PSP Angels is an independent payment consultancy firm. We understand the payment market and have a hug... see more
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Have you heard about Rose Island?
A fake country with fake money which is built on dreams, not structure.
I keep hearing about new coins - all of them are shiny, hyped, and useless from day one.
No structure. No control. No purpose. Just a symbol pretending to be money.
Well, the history repeats itself - only this time, it’s digital.
Let’s learn from it before millions are wasted on the same mistake online.
Read my article below for the full story: https://www.linkedin.com/pulse/coin-without-purpose-why-money-needs-real-structure-viktoria-soltesz-fmhef Apr 2, 2025
A fake country with fake money which is built on dreams, not structure.
I keep hearing about new coins - all of them are shiny, hyped, and useless from day one.
No structure. No control. No purpose. Just a symbol pretending to be money.
Well, the history repeats itself - only this time, it’s digital.
Let’s learn from it before millions are wasted on the same mistake online.
Read my article below for the full story: https://www.linkedin.com/pulse/coin-without-purpose-why-money-needs-real-structure-viktoria-soltesz-fmhef Apr 2, 2025
If you hear about OFAC’s new 10-year recordkeeping rule today, it’s already too late and you are in risk.
Starting 21 March 2025, anyone subject to U.S. sanctions laws—including non-U.S. firms. If your business touches U.S. dollars, U.S. infrastructure, U.S.-owned entities, or sanctioned jurisdictions in any way, this rule applies to you. This includes companies using U.S. correspondent banks, international payment processors, or outsourced compliance providers, too.
The implications go far beyond compliance. Payment structures, data retention policies, vendor agreements, and internal documentation systems must all adapt—immediately.
EU companies face an added risk.
Under GDPR and AML regulations, personal data collected for AML purposes generally must be deleted after five years unless there’s a specific legal obligation to keep it longer. That’s where the problem starts. OFAC has acknowledged this tension but won’t accept it as an excuse for non-compliance.
There is no transition period. No exemptions. No grace window.
Is your business ready?
Read my article: https://www.linkedin.com/pulse/ofac-trap-most-companies-fail-10-year-record-rule-now-soltesz-19a5f
Mar 31, 2025
Starting 21 March 2025, anyone subject to U.S. sanctions laws—including non-U.S. firms. If your business touches U.S. dollars, U.S. infrastructure, U.S.-owned entities, or sanctioned jurisdictions in any way, this rule applies to you. This includes companies using U.S. correspondent banks, international payment processors, or outsourced compliance providers, too.
The implications go far beyond compliance. Payment structures, data retention policies, vendor agreements, and internal documentation systems must all adapt—immediately.
EU companies face an added risk.
Under GDPR and AML regulations, personal data collected for AML purposes generally must be deleted after five years unless there’s a specific legal obligation to keep it longer. That’s where the problem starts. OFAC has acknowledged this tension but won’t accept it as an excuse for non-compliance.
There is no transition period. No exemptions. No grace window.
Is your business ready?
Read my article: https://www.linkedin.com/pulse/ofac-trap-most-companies-fail-10-year-record-rule-now-soltesz-19a5f
Mar 31, 2025
Your wire transfers may no longer be safe—and neither is your business.
A US court just ruled that if a consumer sends a wire online, the bank could be held liable under fraud rules that were never meant for wires. This flips decades of legal understanding and forces banks to take on risks they were never prepared for.
Many will start blocking online wires, adding heavy compliance steps, or removing the option altogether.
If your business relies on wires and you don’t have a proper banking setup, you could lose access, lose money, or get stuck in legal disputes with no support.
Read my article for more information: https://www.linkedin.com/pulse/why-citibank-ruling-should-worry-every-bank-consumer-who-soltesz-542sf Mar 26, 2025
A US court just ruled that if a consumer sends a wire online, the bank could be held liable under fraud rules that were never meant for wires. This flips decades of legal understanding and forces banks to take on risks they were never prepared for.
Many will start blocking online wires, adding heavy compliance steps, or removing the option altogether.
If your business relies on wires and you don’t have a proper banking setup, you could lose access, lose money, or get stuck in legal disputes with no support.
Read my article for more information: https://www.linkedin.com/pulse/why-citibank-ruling-should-worry-every-bank-consumer-who-soltesz-542sf Mar 26, 2025
Stablecoins Are Breaking the Correspondent Banking System
Mesh raised $82 million without using a single bank—no SWIFT, no delays, no intermediaries. Just instant settlement through a stablecoin.
Meanwhile, most businesses are stuck between broken banking systems and unregulated stablecoin options—risking frozen funds, failed payments, and months of profit wiped out without warning.
The real problem isn’t the tools. It’s the lack of planning.
Most companies have no strategy for how money moves, which leads to operational chaos, high fees, and account closures they didn’t see coming.
You can’t fix this with assumptions or blindly following an advice from a forum. You need a proper payment and banking setup—because getting it wrong won’t just cost you money, it can cost you the business.
Read my article for more information.
https://www.linkedin.com/pulse/fintechs-stablecoins-breaking-correspondent-banking-system-soltesz-9lilf/ Mar 22, 2025
Mesh raised $82 million without using a single bank—no SWIFT, no delays, no intermediaries. Just instant settlement through a stablecoin.
Meanwhile, most businesses are stuck between broken banking systems and unregulated stablecoin options—risking frozen funds, failed payments, and months of profit wiped out without warning.
The real problem isn’t the tools. It’s the lack of planning.
Most companies have no strategy for how money moves, which leads to operational chaos, high fees, and account closures they didn’t see coming.
You can’t fix this with assumptions or blindly following an advice from a forum. You need a proper payment and banking setup—because getting it wrong won’t just cost you money, it can cost you the business.
Read my article for more information.
https://www.linkedin.com/pulse/fintechs-stablecoins-breaking-correspondent-banking-system-soltesz-9lilf/ Mar 22, 2025
The Money Laundering Webinar
Viktoria Soltesz, Founder of The Soltesz Institute hosted an exclusive discussion with financial crime expert Kenneth Rijock, revealing the real-world methods criminals use to move illicit funds through banks and payment providers.
Money launderers don’t use fake IDs or stolen cards—they use real businesses, legal structures, and bank accounts to clean dirty money.
Most banks assume high-risk jurisdictions are the problem, but the real threats hide in plain sight, blending seamlessly into legitimate transactions. Payment processors are an easy target because money moves too fast for outdated compliance methods to catch.
One mistake can get your accounts frozen, your business shut down, and land you in serious legal trouble.
Learn More Kenneth Rijock’s upcoming seminar at The Soltesz Institute will provide an inside look at modern laundering tactics, the weak spots criminals exploit, and how financial institutions can defend against them.
Watch the full webinar at The Soltesz Institute: https://solteszinstitute.com/course/the-special-money-laundering-problems-of-payment-processors Mar 20, 2025
Viktoria Soltesz, Founder of The Soltesz Institute hosted an exclusive discussion with financial crime expert Kenneth Rijock, revealing the real-world methods criminals use to move illicit funds through banks and payment providers.
Money launderers don’t use fake IDs or stolen cards—they use real businesses, legal structures, and bank accounts to clean dirty money.
Most banks assume high-risk jurisdictions are the problem, but the real threats hide in plain sight, blending seamlessly into legitimate transactions. Payment processors are an easy target because money moves too fast for outdated compliance methods to catch.
One mistake can get your accounts frozen, your business shut down, and land you in serious legal trouble.
Learn More Kenneth Rijock’s upcoming seminar at The Soltesz Institute will provide an inside look at modern laundering tactics, the weak spots criminals exploit, and how financial institutions can defend against them.
Watch the full webinar at The Soltesz Institute: https://solteszinstitute.com/course/the-special-money-laundering-problems-of-payment-processors Mar 20, 2025
Visa’s New VAMP Rules Will Cost You—Here’s Why You Should Be Worried
Visa is charging merchants per transaction for fraud and chargebacks.
Visa is tightening its grip, and businesses that don’t take action now will pay for it—literally. Visa is no longer just flagging high-risk merchants—it is charging them per transaction.
If a customer disputes a charge, even fraudulently, it counts against you. If your dispute rate crosses Visa’s limits, you pay penalties on every transaction, and winning a chargeback later won’t refund the fines.
Acquirers won’t take the risk and will start cutting off high-risk businesses. This is not just a cost issue—it’s a threat to your entire business.
Read my article for more information: https://www.linkedin.com/pulse/visas-new-vamp-rules-cost-youheres-why-you-should-worried-soltesz-euhdf Mar 15, 2025
Visa is charging merchants per transaction for fraud and chargebacks.
Visa is tightening its grip, and businesses that don’t take action now will pay for it—literally. Visa is no longer just flagging high-risk merchants—it is charging them per transaction.
If a customer disputes a charge, even fraudulently, it counts against you. If your dispute rate crosses Visa’s limits, you pay penalties on every transaction, and winning a chargeback later won’t refund the fines.
Acquirers won’t take the risk and will start cutting off high-risk businesses. This is not just a cost issue—it’s a threat to your entire business.
Read my article for more information: https://www.linkedin.com/pulse/visas-new-vamp-rules-cost-youheres-why-you-should-worried-soltesz-euhdf Mar 15, 2025
Hungary’s Cash Protection Law: Economic Stability or Financial Risk?
Hungary is amending its constitution to guarantee the right to pay in cash. While positioned as a move to protect consumer choice, it raises concerns for businesses, banks, and the country’s financial stability.
Cash increases operational costs, weakens financial transparency, and complicates compliance with global banking regulations. It could also impact Hungary’s trade relationships and currency stability.
Read my article for more: https://www.linkedin.com/pulse/hungarys-cash-protection-law-economic-stability-risk-viktoria-soltesz-6xzdf/?trackingId=V4g5T%2B2nsff8peqZv0pWbA%3D%3D Mar 13, 2025
Hungary is amending its constitution to guarantee the right to pay in cash. While positioned as a move to protect consumer choice, it raises concerns for businesses, banks, and the country’s financial stability.
Cash increases operational costs, weakens financial transparency, and complicates compliance with global banking regulations. It could also impact Hungary’s trade relationships and currency stability.
Read my article for more: https://www.linkedin.com/pulse/hungarys-cash-protection-law-economic-stability-risk-viktoria-soltesz-6xzdf/?trackingId=V4g5T%2B2nsff8peqZv0pWbA%3D%3D Mar 13, 2025
ISO Standards in Banking and Payments: What You Need to Know
Payment failures, frozen accounts, and regulatory fines happen more often than you think.
Most people handling payments have no proper training, and MBAs don’t cover this.
ISO standards define how banks process transactions, prevent fraud, and stay compliant, yet most businesses don’t even know they exist. Ignoring them leads to security breaches, lost funds, and costly mistakes.
Read my article for more information: https://www.linkedin.com/pulse/iso-standards-banking-payments-what-you-need-know-viktoria-soltesz-oysdf/?trackingId=GD1c6CfwSEaS9nlJbwWppQ%3D%3D
Mar 7, 2025
Payment failures, frozen accounts, and regulatory fines happen more often than you think.
Most people handling payments have no proper training, and MBAs don’t cover this.
ISO standards define how banks process transactions, prevent fraud, and stay compliant, yet most businesses don’t even know they exist. Ignoring them leads to security breaches, lost funds, and costly mistakes.
Read my article for more information: https://www.linkedin.com/pulse/iso-standards-banking-payments-what-you-need-know-viktoria-soltesz-oysdf/?trackingId=GD1c6CfwSEaS9nlJbwWppQ%3D%3D
Mar 7, 2025
Upvoted by Cristian
"Oh come on, it just a bank....!"
You probably don’t spend much time thinking about payment and banking—until something goes wrong.
A failed transaction, a frozen account, or a sudden account closure can throw your business into chaos overnight.
You assume your finance team has it covered, but payment and banking don’t follow the same rules as accounting.
The ones who manage payment and banking tasks are not adequately trained to so.Key areas, such as how payments and banking affect technology, UX, compliance, and other essential aspects in a business, are absent from accounting, economics courses, and MBAs.
One mistake can cut off your cash flow, block customer payments, and leave you scrambling with no clear answers.
If you’re not actively managing this, you’re already at risk. Here’s what you need to know:
https://www.linkedin.com/pulse/why-payment-banking-can-longer-ignored-hidden-business-soltesz-v1ise/?trackingId=lhNaFIyuQ76hrIy0Gab%2BaA%3D%3D
Mar 6, 2025
You probably don’t spend much time thinking about payment and banking—until something goes wrong.
A failed transaction, a frozen account, or a sudden account closure can throw your business into chaos overnight.
You assume your finance team has it covered, but payment and banking don’t follow the same rules as accounting.
The ones who manage payment and banking tasks are not adequately trained to so.Key areas, such as how payments and banking affect technology, UX, compliance, and other essential aspects in a business, are absent from accounting, economics courses, and MBAs.
One mistake can cut off your cash flow, block customer payments, and leave you scrambling with no clear answers.
If you’re not actively managing this, you’re already at risk. Here’s what you need to know:
https://www.linkedin.com/pulse/why-payment-banking-can-longer-ignored-hidden-business-soltesz-v1ise/?trackingId=lhNaFIyuQ76hrIy0Gab%2BaA%3D%3D
Mar 6, 2025
Upvoted by Cristian and 1 other
Thinking your payment and banking setup is fine? Think again.
One mistake—choosing the wrong bank, relying on a single provider, or ignoring compliance changes—can freeze your accounts, block your transactions, and cut you off from your own money.
Too many businesses assume payments are "just finance" or that "their accountant can handle it". That’s exactly how companies end up with crippling fees, rejected transactions, and lost revenue.
Your payment and banking setup isn’t an afterthought—it’s your business lifeline. Get it wrong, and you might not have a business left.
Read my article for more information. https://www.linkedin.com/pulse/5-payment-banking-myths-make-companies-fall-behind-viktoria-soltesz-gkp9f Mar 3, 2025
One mistake—choosing the wrong bank, relying on a single provider, or ignoring compliance changes—can freeze your accounts, block your transactions, and cut you off from your own money.
Too many businesses assume payments are "just finance" or that "their accountant can handle it". That’s exactly how companies end up with crippling fees, rejected transactions, and lost revenue.
Your payment and banking setup isn’t an afterthought—it’s your business lifeline. Get it wrong, and you might not have a business left.
Read my article for more information. https://www.linkedin.com/pulse/5-payment-banking-myths-make-companies-fall-behind-viktoria-soltesz-gkp9f Mar 3, 2025
Upvoted by Cristian
Payment introducers are hurting the industry!
These "introducers" are not doing you a favor—they’re cashing in on secret commissions while putting your business at risk. The bigger issue is accountability—because there is none. There incentive to match businesses with the right provider: who pay the most.
Your business, your money, and your ability to operate are on the line.
This approach hurts everyone—the Providers, the Business, and the Industry!
Payment and banking must be handled by educated professionals who understand compliance, risk management, and long-term business strategy—not by brokers looking for a quick payday.
Businesses that ignore this reality will learn the hard way. And by then, it will already be too late.
Read my article for more information: https://www.linkedin.com/pulse/hidden-cost-free-merchant-bank-account-openings-why-payment-soltesz-7h4hf Feb 6, 2025
These "introducers" are not doing you a favor—they’re cashing in on secret commissions while putting your business at risk. The bigger issue is accountability—because there is none. There incentive to match businesses with the right provider: who pay the most.
Your business, your money, and your ability to operate are on the line.
This approach hurts everyone—the Providers, the Business, and the Industry!
Payment and banking must be handled by educated professionals who understand compliance, risk management, and long-term business strategy—not by brokers looking for a quick payday.
Businesses that ignore this reality will learn the hard way. And by then, it will already be too late.
Read my article for more information: https://www.linkedin.com/pulse/hidden-cost-free-merchant-bank-account-openings-why-payment-soltesz-7h4hf Feb 6, 2025
The "Big Bad Banks" Myth: Who’s Really to Blame?
We love to blame banks for high fees, but the truth is, compliance isn’t free.
Banks and payment providers charge fees because they’re the ones making sure transactions are legal, fraud is prevented, and taxes are accounted for.
Without them, businesses wouldn’t be better off—they’d just be competing with those who avoid the rules, cheat the system, and undercut honest merchants.
Instead of pointing fingers, businesses need to understand the system, negotiate better deals, and structure their payments properly—because without the right knowledge, they’ll always be the ones getting ripped off.
Read my article for more: https://www.linkedin.com/pulse/big-bad-banks-myth-whos-really-blame-viktoria-soltesz-hamqf
Feb 3, 2025
We love to blame banks for high fees, but the truth is, compliance isn’t free.
Banks and payment providers charge fees because they’re the ones making sure transactions are legal, fraud is prevented, and taxes are accounted for.
Without them, businesses wouldn’t be better off—they’d just be competing with those who avoid the rules, cheat the system, and undercut honest merchants.
Instead of pointing fingers, businesses need to understand the system, negotiate better deals, and structure their payments properly—because without the right knowledge, they’ll always be the ones getting ripped off.
Read my article for more: https://www.linkedin.com/pulse/big-bad-banks-myth-whos-really-blame-viktoria-soltesz-hamqf
Feb 3, 2025
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