YouTeller receives Cease & Desist Order from NETeller Written by Thomas Jensen Saturday, 03 March 2007
YouTeller was issued a cease and desist order from NETeller's corporate counsel on February 28th, 2007. NETeller believes that YouTeller is infringing on their registered trademark and believes that Seed Capital's use of YouTeller will cause consumer confusion.
NETeller has demanded that YouTeller respond in writing by March 5th, 2007 that it will comply with the cease and desist order. Point-Spreads.com will continue to monitor this situation as it unfolds.
"The payment processing sector of online gambling has always been one of the most unstable and questionable," stated Christopher Costigan of Gambling911.com. "This is why there are many skeptics when it comes to YouTeller."
Gambling911.com broke the news and has obtained copies of the cease and desist order. Costigan is hardly alone. Several industry insiders we spoke with on our recent trip to crime ridden Costa Rica are skeptical about YouTeller.
"This Youteller service is of great concern to us as it has being impossible to contact anybody at Youteller and get more information about their services but the worst is the fact that everyone seems to think that is actually NETeller under a different name," commented a frustrated online gambling industry E-commerce consultant.
A online gambling operator we spoke with stated, "I have been waiting for 12 days without receiving an email back from when I inquired about setting up a merchant account. You would think they (YouTeller) would be more responsive to merchants if they really are launching in March."
Point-Spreads.com did not have to wait longer than 24 hours for a response to article question YouTeller for answers. Go figure!
"Please be patient until we have disclosed information about our partners and about poker sites that accept YouTeller.com as a payment option," commented Florian Schweitzer, Director of YouTeller, in an email response to an article which appeared on Point-Spreads.com last week.
Schweitzer went on to say, "Small e-money issuers are companies that have small payment transaction volumes. Our customers will not be able to transfer (or hold more money in their YouTeller account) than 150 € (about 190 USD). Such businesses does not have a FSA register number like banks, insurance companies or "big" e-money issuers like neteller. Please ask the FSA directly for further information on FSA's register policy."
Based on Schweitzer's comments, it appears that YouTeller is only looking to take on poker sites as merchants. With limits of $190 USD, it does not appear that YouTeller will be able to replace NETeller anytime soon.
http://www.point-spreads.com/content/view/1465/2/
NETeller has demanded that YouTeller respond in writing by March 5th, 2007 that it will comply with the cease and desist order. Point-Spreads.com will continue to monitor this situation as it unfolds.
"The payment processing sector of online gambling has always been one of the most unstable and questionable," stated Christopher Costigan of Gambling911.com. "This is why there are many skeptics when it comes to YouTeller."
Gambling911.com broke the news and has obtained copies of the cease and desist order. Costigan is hardly alone. Several industry insiders we spoke with on our recent trip to crime ridden Costa Rica are skeptical about YouTeller.
"This Youteller service is of great concern to us as it has being impossible to contact anybody at Youteller and get more information about their services but the worst is the fact that everyone seems to think that is actually NETeller under a different name," commented a frustrated online gambling industry E-commerce consultant.
A online gambling operator we spoke with stated, "I have been waiting for 12 days without receiving an email back from when I inquired about setting up a merchant account. You would think they (YouTeller) would be more responsive to merchants if they really are launching in March."
Point-Spreads.com did not have to wait longer than 24 hours for a response to article question YouTeller for answers. Go figure!
"Please be patient until we have disclosed information about our partners and about poker sites that accept YouTeller.com as a payment option," commented Florian Schweitzer, Director of YouTeller, in an email response to an article which appeared on Point-Spreads.com last week.
Schweitzer went on to say, "Small e-money issuers are companies that have small payment transaction volumes. Our customers will not be able to transfer (or hold more money in their YouTeller account) than 150 € (about 190 USD). Such businesses does not have a FSA register number like banks, insurance companies or "big" e-money issuers like neteller. Please ask the FSA directly for further information on FSA's register policy."
Based on Schweitzer's comments, it appears that YouTeller is only looking to take on poker sites as merchants. With limits of $190 USD, it does not appear that YouTeller will be able to replace NETeller anytime soon.
http://www.point-spreads.com/content/view/1465/2/
