YouTeller Launch Postponed After Legal Problems With Neteller
19 April 2007
London, United Kingdom, 04/19/2007
London-based technology company not interested in NETeller takeover.
After facing legal problems with NETeller Plc. Seed Capital Ltd. decided to delay the launch of their new payment processor YouTeller.com. “It is in everyone’s interest that YouTeller will not be confused with NETeller,” said Seed Capital spokesman Florian Schweitzer. If Seed Capital will not be able to make the legal situation clear the company will introduce an all-new online payment system next summer.
Just a matter of time
Meanwhile the regulatory situation is getting better and better. The World Trade Organization (WTO) said two weeks ago that the US ban on offshore Internet gambling payments is illegal upholding a previous decision that allowed for possible sanctions. “US customers will be able to transfer money to gaming companies again. It’s just a matter of time”, Schweitzer underlined. YouTeller is part of an international lobbying task force that works on this issue with the WTO and the European Union.
Seed Capital denies rumors about a possible takover of NETeller Plc. “We are not interested in a traditional online payment system. We have developed a service that is tailor-made to the current challenges”, Schweitzer emphasizes.
One month ago NETeller’s legal counsel demanded YouTeller.com cease to conduct payment processing business under the name YouTeller. “Such use by Seed Capital Ltd. causes confusion, including initial interest confusion leading to persons familiar with the teller-suffixed brand of services to believe Seed Capital Ltd. is somehow affiliated with, related to or endorsed by our client,” the letter states.
30 January 2007New Payment Processor 'YouTeller' Touted As Neteller Replacement For Online Gambling
NewswireToday - /newswire/ – London, United Kingdom, 01/30/2007 – Shortly after Neteller announced its decision to pull out of the US gaming market on January 18, the 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.Read full article
06 February 2007YouTeller Claim Of Certification In Doubt
eGaming Review A new payments processor which says it will be open for business in March this year appears to be falsely claiming to be certified by the UK Financial Services Authority (FSA). YouTeller claims on its website to be a trademark of a company called Seed Capital Ltd, and gives an address in east London. A link on the company’s contacts page then diverts to the FSA register of Small E-Money Issuers where a company called Seed Capital Ltd is indeed listed.Read full article