I checked with the Bank today and currently we can accept payments from programs that are ASP approved merchants only.
The problem is Affiliate SpeedPay is designed and offered as an affiliate payment solution only. There is a very valid concern by the bank that if we dont keep strict controls in place that casino operators, sports books and poker rooms who we have no influence over will try to finagle things and use Affiliate SpeedPay as payment mechanism for players. I have little doubt that some would tell their larger players “All you have to do is set up and Affiliate SpeedPay account and we can send you money instantly.”
Many affiliates play online and it would be too tempting for them to say wire my winnings to my ASP bank account. So we have to avoid this at all costs.
We are in discussions with the bank to determine if there is a practical way to allow other swift transfers, but I understand the hesitation. We want to ensure that the Affiliate SpeedPay solution is stable, legally compliant and not subject to closure down the road because of abuse.
The best solution is to encourage all the programs we work with to establish an Affiliate SpeedPay account so they can do instant transfers to affiliates.
Unlike other solutions currently making the rounds Affiliate SpeedPay:
1. ISN’T being offered by a payment processor.
2. Affiliates in all states are welcome to open an account
3. This is not a software specific offering. It can and will work with all affiliate groups not just a handful of operators using one brand.
4. You get a real bank account and can transfer funds to yourself or make withdrawels at virtually any ATM.
5. Transfers are instant and fully tracked. You wont have to wait for days for a wire to show up or get whacked with a $35 incoming wire fee.