April 24 - Controversial online casino payment method YouTeller has
announced that it will delay its launch due to ongoing legal head banging with
,b>NETeller. This supports the view of some industry commentators that YouTeller
is unlikely to even launch in the first place...
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"It is important for all stakeholders that YouTeller isn't confused with
NETeller," a Seed Capital spokesperson said (Seed Capital is the company behind
Youteller).
The company has not given an indication as if and when the legal issues with
NETeller will be resolved, and have again stressed that a takeover by NETeller
is not an option as they do not want to be seen as 'traditional online payment
system', whatever that may be.
The saga started when NETeller's legal counsel requested that YouTeller does
not operate under that name over concerns that the name would be linked to their
NEteller itself.
An extract from the latter stated that "Such use by Seed Capital Ltd. causes
confusion, including initial interest confusion leading to persons familiar with
the teller-suffixed brand of services to believe Seed Capital Ltd. is somehow
affiliated with, related to or endorsed by our client."
We continue to monitor the story with interest, albeit relatively little at
this stage.
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