YouTeller delays launch citing legal troubles

Online casino and poker players will have to wait a little longer for a new online payment option as YouTeller has decided to delay its launch because of legal troubles.

Seed Capital Ltd., owner of YouTeller, has been facing legal problems with NETeller Plc. In a letter from its lawyers, the company demanded YouTeller stop conducting business under that name as it is too easily confused with NETeller.

"It is in everyone's interest that YouTeller will not be confused with NETeller," said Florian Schweitzer, Seed Capital spokesman.

Seed Capital will try to make the legal situation clear. If it is unable, the company will introduce an all-new online payment system in the future.

The company is also hopeful that the precarious legal situation in the United States will begin clearing itself up as well now that the World Trade Organization upheld its decision about the U.S. ban on Internet gambling transaction.

"U.S. customers will be able to transfer money to gaming companies again," Schweitzer said. "It's just a matter of time."

While YouTeller, or another online payment system from Seed Capital, is working to fill the e-wallet niche and waiting for the market to open up again, it is not interested in taking over another company in the market.

"We are not interested in a traditional payment system," Schweitzer said in regards to a rumored NETeller takeover. "We have developed a service that is tailor-made to the current challenges."

courtesy of Sarah Polson

News Added: 23 April, 2007

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