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Petronpay.com is a website that claims to generate returns up to 2.5% per day through petroleum investments. It has consistently been among the most-searched websites on Scamadviser. Therefore, we have done an in-depth review for the benefit of our users.
Official Domain
petronpay.com
Registered on
2019-12-19
Location
Not provided
Owner
Not provided
Alexa Rank
84,857
Website Speed
Average
Petronpay is a company that claims to generate revenues up to 2.5% per day for investors by trading petroleum barrels. The website has a considerably high Alexa rank, which means it is popular. They offer various packages ranging from $25 to $1,999 offering the same returns of 0.2% to 2.5% per day.
However, the difference between these packages is that you receive more ‘binary points’ for more expensive packages. Petronpay is actually a multi-level marketing (MLM) company that rewards investors for bringing in more investors and awarding higher commissions the more your referrals invest. This kind of structure strongly implies that Petronpay might be a pyramid scheme. The only products being offered by Petronpay are the ‘packages’, which might mean that the only source of income for the company is investors themselves.
The screenshots above are taken from a presentation on their Youtube channel. Much of the video is dedicated to explaining the earnings structure and there is a strong emphasis on recruiting more investors in your ‘downline’. The presentation also claims that the company has been operating since March 2010. However, there is no evidence of this being true. The domain name has been registered only in December 2019 and traffic data shows that the website has only been active since July 2020.
The WHOIS data has been hidden, therefore, there is no information on who operates the website, from where and how to contact them.
Email ID
support@petronpay.com
Phone Number
Not provided
Address
Airgate Business Center - Thurgauerstrasse 40, 8050, Zurich - Switzerland
Social Media Profiles
YouTube page (created on 20 May 2020): https://www.youtube.com/channel/UCFmE-IhGk53pLiXBCyJ02jA
Instagram Page (first posted on 18 February, 2020): https://www.instagram.com/johnny_mrgrant/
Scamadviser Verification
The Scamadviser page of Petronpay has not been claimed by the company.
The only real contact detail given on Petronpay’s website is the email address. There is no phone number provided and the address displayed is incomplete. Going by the address, Petronpay claims to be located in Switzerland. However, the Instagram profile linked on the website is a personal ID of someone supposedly named ‘Johnny Grant’.
Johnny Grant claims to be located in Miami. However, there is no way to tell if he is a real person as the images contain no identifiable information. The images look high-quality, while the only material pertaining to Petronpay on the profile is a low-quality video. This suggests that the images on Johnny Grant’s profile could have been copied from another Instagram account. It should also be noted that it is a personal profile and not a company profile.There is also no mention of Johnny Grant on the company’ website or Youtube channel. Such inconsistencies give the impression that Petronpay is not a professionally-run operation.
The Youtube channel was created in May 2020. Therefore, there is no evidence of Petronpay existing before 2020 and makes the claim of the company running since March 2010 look like a lie.
The Youtube channel features testimonials by some Africans and also claims that Petronpay has an office in Kenya. The traffic data also shows that much of Petronpay’s traffic comes from African countries such as Burkina Faso, Côte d'Ivoire and Cameroon. Therefore, there is a high possibility that Petron pay is an African-run operation.
Despite being 10 months old, there are few reviews available for Petronpay. This, once again, suggests that it is a young company that has started operating only recently. The reviews available on TrustPilot are mixed, consisting of investors claiming they have received payouts and others claiming that it is a scam. It should be noted that getting payouts is not a sign that a company is not a scam, as pyramid schemes are known to pay out initially to gain the confidence of investors before suddenly shutting down. Secondly, the reviews for MLM companies cannot be taken at face-value, as investors have a vested interest in portraying a good image of the company to gain referrals.
You can read the reviews of Petronpay on Scamadviser here.
There is a high likelihood that Petronpay is a scam.
Petronpay has a Trust Score of 1% on Scamadviser, which means it is extremely risky to invest using this website. You can read more about Petronpay's Trust Score here.
The company has an MLM structure that incentivizes roping in more investors for greater earnings. However, as there does not seem to be any real product or service being offered by Petronpay, there is a strong possibility that it is actually a pyramid scheme. This suspicion is strengthened by that fact that the company promises to pay up to 2.5% profit per day, which is quite unrealistic but regularly seen in fraudulent schemes.
The company claims to be operating since March 2010. However, evidence suggests that it has only been active since July 2020. There is no information provided on who is running the website and from where. The only way to contact Petron pay is by email. Though the company claims to be Swiss, there is some indication that it is actually an African operation.
The social media profiles of Petronpay have been created in 2020, once again suggesting that it has only been running since mid-2020. The videos on the Youtube page put a heavy emphasis on recruiting new members, thereby once again hinting that it might actually be a pyramid scheme.
The Instagram profile linked on the website is not a company profile at all. It supposedly belongs to someone named ‘Johnny Grant’ who may not be a real person. Ultimately, there is no evidence which shows that Petronpay is involved in legitimate investments as no certification by any kind of authority has been provided. It is advisable to avoid investing in Petronpay, as it is likely to be an HYIP scam.
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