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lets hope this takes off…
wow – reads like they are really aiming at the gambling industy – and its uk bank regulated/based etc, which should mean the US banks cant / wont be able to block payments to YouTeller.
Or will the US gov still try / tell the US banking industry to block payments to a legal UK banking organisation ?
I have a hard time believing a new payment processor could be up and running with all the kinks worked out that quickly, but it certainly is encouraging. It was bound to happen. It’s also excellent if it’s a UK based company, as they will be properly regulated, and will provide players with a safe and trustworthy place to store their money. Here’s hoping they’re for real!
I know it sounds too good to be true, but they do have a multi billion dollar incentive. Maybe now the US govt will slowly begin to realise that the best thing they can do is to legalize it.
I went to youteller.com and the setup is very reminiscent of the old PayPal. From the looks of it, you’ll be able to fund by credit card or bank account, send money and receive money, and they won’t be targeting online gaming. I believe they’re going to go up against Ebay/PayPal regarding auctions, selling merchandise, etc. The framework is up if you wanted to check it out.
From the looks of it, you’ll be able to fund by credit card or bank account, send money and receive money, and they won’t be targeting online gaming.
Sounds great, this way no one could single out payments to gambling websites, or ban transactions with that wallet
If they’ve been authorised by the FSA then they’ve put some work in. I’m authorised by them myself and it was not easy or cheap to achieve. Sounds good.
From Card Player Magazine
“New companies are springing up as I write this article. Today I read that a London-based technology company, Seed Capital Ltd., introduced a new payment processing service, YouTeller.com.“We will start in March with a revolution in simplicity of worldwide online payments. Everybody who can download songs or play online games will now be able to pay for that instantly,” said Johannes Knierzinger, CEO and cofounder.
On Monday, the British Financial Services Authority (FSA) granted YouTeller the right to operate as an e-wallet. “The FSA has already given us the green light. We will begin services after the server-security testing period is completed,” said Florian Schweitzer, company spokesman and cofounder, who added: “We have no overseas branch in a NAFTA-country like NETELLER or Citadel, so we are not affected by U.S. legislation.”
This sounds great.
Everybody who can download songs or play online games will now be able to pay for that instantly
This solution plans to target all types of markets, something Neteller should have been doing all along and was told by many of us many times over.
Hope this is a great solution
With this news I am interested in how many casinos will signup before the start of the program. There is open enrollment now, so anyone can sign up.
withdrawal fee is higher
This company is classified as a “Small E-Money Issuer”. Each customer can only hold a maximum of 150 Euro in their account. Can someone confirm this?
1% plus $5 on withdraws to US bank accounts sucks but better than a plane ticket.
