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Cease and desist order served on newbie processor Youteller
Point spreads.com reports that Youteller.com, the nascent third party financial processor which launched recently (see previous InfoPowa reports) has attracted the legal wrath of embattled Neteller.com.
The gambling information portal reports that Neteller legal eagles have served a cease and desist order on Youteller, claiming that the newcomer is infringing on its registered trademark and believes that parent company Seed Capital's use of the YouTeller brand will cause consumer confusion.
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NETeller has demanded that YouTeller respond in writing by March 5th, 2007 that it will comply with the cease and desist order.
Youteller has made a rocky start in the business, restricting membership and proving elusive in terms of full transparency and plainly inefficient in terms of communications.
"Please be patient until we have disclosed information about our partners and about poker sites that accept YouTeller.com as a payment option," commented Florian Schweitzer, the apparently sole publicly visible director of YouTeller, in an email response to an article which appeared on Point-Spreads.com last week.
Schweitzer went on to say, "Small e-money issuers are companies that have small payment transaction volumes. Our customers will not be able to transfer (or hold more money in their YouTeller account) than 150 � (about 190 USD). Such businesses does not have a FSA register number like banks, insurance companies or "big" e-money issuers like neteller. Please ask the FSA directly for further information on FSA's register policy."
Based on Schweitzer's comments, it appears that YouTeller is only looking to take on poker sites as merchants. With limits of $190 USD, it does not appear that YouTeller will be able to replace NETeller anytime soon, opines Point Spreads with accuracy.
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