New casino e-wallet processor

Youteller, a new e-wallet system, will be launched by the UK-based company Seed Capital Ltd. next month and following the demise of previous market leader NETeller, the company are expecting a flood of customers to come rushing to their door.

For that reason, the website is operating on the Gmail beta-test model where customers have to be invited to sign up with the service for fear that their servers could not cope with the traffic.

"Our servers could not handle the traffic if we open our doors for a public sign up. But it is our first priority to provide our customers with a stable service and a reliable support", says Florian Schweitzer, spokesman for Seed Capital.

" follows the Gmail model. It will be a community-based payment processor,” he added.

In the first instance, Youteller will only invite their first 1,000 customers who have pre-registered to start using their services. Any new customers will be invited by those who have pre-registered.

Youteller also announced that public registration is "not planned within the next few months".

Youteller also claim that their service will not be attractive to money laundering and terrorist activities because of its 150 Euro account and transaction limit.

However, Youteller’s fees are a bit expensive. To withdraw funds by either using a UK bank account or Credit Card, you will be charged one per cent of the withdrawal plus a $5 fee. Depositing is unsurprisingly cheaper with a one per cent charge plus a $1 fee for UK bank accounts and a nearly four percent charge and a £0.50 fee for Credit Cards.

Time will only tell if the company can step up to the mantle once occupied by the besieged NETeller, the previously e-wallet company of choice for the online casino and poker player.

Editor, - 2007-02-23 11:30:17

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