• YouTeller Launch Postponed After Legal Problems With Neteller

    19 April 2007

    Newspaper

    NewswireToday
    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.

    No takeover
    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.

    Related News

    • 18 October 2019

      Genesis Global Limited to Launch Kassu Online Casino with PayNPlay Focus

      The online casino space is growing globally at an exponential rate, and competition is fierce and merciless. Still, that doesn’t dissuade many companies from trying and one such company is Genesis Global Limited who has just announced the launch of a new online venue called Kassu Casino. Licensed in Malta and in the United Kingdom, and will be launched very soon. The newly revealed online venue has a trick up its sleeve and a definitive selling point that sets it apart.

      Read full article
    • 09 October 2019

      NetEnt Launches Network Branded Casino in a Bid to Shake Up Live Casino Product Line

      Casino supplier and game developer, NetEnt, known for its live casino offerings, is launching a new product line to help operators become even more flexible and increase the control they have over the player experience. The suite in question is called Network Branded Casino (NBC) and comes in three tiers from the entry-level which features generic backgrounds to the highest tier that lets operators fully customize the look and feel of the live room.

      Read full article
    • 16 August 2019

      1xBet Shuts Down UK-Facing Operation Amid Regulatory Probe

      Russia-based casino and sportsbook operator has shuttered its United Kingdom facing site on August 9th after an investigation by the Sunday Times and a regulatory probe into the actions of the company. 1xBet is one of the largest iGaming presences in the CIS regions but operates in other markets as well. In the UK, they had been working with white-label platform provider, FSB Tech.

      Read full article