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
"We will start in March with a revolution in simplicity of worldwide
online payments. Everybody who can download songs or play online games
will now be able to pay for that instantly," said Johannes Knierzinger,
CEO and co-founder.
On Monday the British Financial Services Authority (FSA) granted
YouTeller the "Small E-Money Issuer Certificate", therefore making it
possible to operate as an e-wallet. "The FSA has already given us the
green light. We will begin services after the server-security testing
period is completed," said Florian Schweitzer, company spokesman and
co-founder. It took three month to develop the new online payment
"We have no overseas branch in a NAFTA-country like Neteller or Citadel,
so we are not affected by US legislation," underlined Schweitzer.
YouTeller is part of an international lobbying task force that works on
the issue 'worldwide online payments' with the World Trade Organisation
(WTO) and the European Union.
The WTO has again ruled against the United States in favor of Antigua
and Barbuda, this time for not taking "the necessary steps to comply"
with the April 2005 WTO ruling to correct discrimination against foreign
internet gambling operators, Reuters reported late last week."