E-Money Provider Sues Payment Processor For €5.3M

Law360, London (January 6, 2021, 7:07 PM GMT) -- A U.K payment processor is being sued by a company that distributes digital alternatives to cash to recoup up to €5.3 million ($6.5 million) it says has been held and not returned after their business partnership ended. 

EMPcorp AS claims in its recently public High Court lawsuit that TechToPay Ltd. has held onto its money well after their business relationship was terminated after wrongly suggesting that some of the money comes from shady origin.  

Luxembourg-based EMPcorp said that TechToPay stopped working for it in 2019, but it has not complied with requests to hand over millions of euros that were held...

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