

Startup to Take on PayPal - drm237
http://www.darkreading.com/document.asp?doc_id=130099&WT.svl=news1_1
A secure electronic payments startup plans to challenge PayPal, but with a twist: It permits transactions for online pornography and gambling, which PayPal does not. 
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mattmaroon
It's beyond ridiculous for an American company to attempt to process gambling
transactions. I'd be extremely leery of using them for anything, as they're
going to be shut down and have their funds seized without a doubt.

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myoung8
Has anyone else ever wondered: what would I tell my parents if I got involved
in the adult entertainment industry?

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steve
You'd be telling them "sure you can borrow my second yacht this weekend."

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ivankirigin
It is a myth that people working in adult entertainment make a lot of money.

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steve
no I was talking about gambling.

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ivankirigin
ahh. You're right then. Though I'm not sure how recent regulations have
changed things.

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paulgb
The headline is misleading. The company is not trying to take on PayPal, they
are just trying to fill the void that PayPal leaves.

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portLAN
What an excellent choice of terminology for this subject.

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stuki
After the whole NETeller debacle, I would be wary of association with anyone
providing service to online betting shops.
<http://www.wnbc.com/news/13656319/detail.html?subid=10101421>

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steve
That was the US goverment's screw up and that had terrible consequences for
many startups, even outside of gambling.

Blame those who caused this, not the companies.

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mattmaroon
It was not the US Government's screwup, it was the Neteller founders' for
coming to our country. Had they had the common sense to remain overseas the
whole debacle would have been avoided.

Regardless of where you stand on the issue (and I'm obviously as pro-gaming as
they get, since I made my living for 5 years playing poker online) the fact is
that the DoJ is going to systematically destroy anyone who has anything to do
with online gambling. Anyone starting any startup in that space in this
country is begging for jail time.

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stuki
That was my point exactly. I would think anyone setting up a wide ranging
electronic payment system must need some sort of funding, banking deals etc.
Being US based, getting that with a prominent link for Online Casinos etc. to
sign up as merchants on the front page, seems rather unlikely. Hence, unless
they refocus, the whole startup seems a bit unserious. I wish them the best of
luck, though; hoping that does not make me guilty by association:).

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migpwr
A swiss startup should give this a shot! They have what I think would be a
unique advantage... they automatically inherit the trusted & neutral "brand"
thing associated with swiss banks.

It would need to prove stable but it might be enough to give Paypal or any
other fund processor (online banks even?) a real run for their money.

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adnam
<meta name="Generator" content="Joomla!...>

How lame.

