Key Data

• Trading Name: Pixxles
• Legal Entity: Pixxles Ltd
• Activities: FCA-regulated EMI and high-risk payment processor
• Location: UK
• Regulations: UK FCA
• Key People: Amber Fairchail, founder and CEO, Salma Kamaly

The FCA-regulated high-risk payment processor Pixxles is a spin-off of the US-based T1 Payments group. Former T1 Payments executive Amber Fairchild established the company in October 2018.

Fairchild has been named as a Defendant in the U.S. fraud complaint filed by a former T1 Payments client (see FinTelegram report here).  Fairchild, who lives in Florida, used to be registered as an officer in T1Payments’ Florida branch and TGlobal Services LLC in Nevada.

At Pixxles, Amber Fairchild serves as a director and CEO. The British citizen Scott Dawson is the company’s Director of Operations. Fairchild controls the company with 75% or more of the shares.

In May 2022, Pixxles appointed Salma Kamaly as an additional director, effective May 23, 2022. Kamaly, born in September 1986, is reportedly a compliance expert who serves as the sole director of JS Compliance Consultants Limited (JSCC).

The Offering

Pixxles addresses digital merchants and offers them “payment and business banking services.” However, the website does not provide any details on the “business banking” offering. The opening of bank accounts is not offered.

All we found in our review are prices for payments:

• 1.4% + 20p per transaction UK to UK
• 2.5% + 20p per transaction UK to EEA
• 2.9% + 20p per transaction International

Conclusion

Pixxles seems to have issues with its business. In its balance sheet as of Oct. 31, 2021, the company shows an operating loss of more than GBP 950,000 and a negative cash flow of more than GBP 431,000. They had to issue new shares to finance their loss.

We have not discovered any involvement of Pixxles in scams or cybercrime activities: however, given the massive losses and the negative cash flow, we downgrade the EMI and include it in our  “Orange Compliance Ligh” list.