Payment processors to avoid

Xenigo123 · #1 (**permalink**) 05-23-2007, 01:05 AM

In a previous thread I already mentioned Neteller, as they were involved with processing gambling transactions and I don't believe they are available in the US or Canadian markets anymore. I have also read the E-Gold is in deep trouble with the US Government for the same thing, and that Epassporte may be next. What other payment processors would you avoid?

squirrel · #2 (**permalink**) 05-23-2007, 01:11 AM

Merchants seem to be ignoring Stormpay already since I can't find one using this payment processor. In the other thread I was looking for a web host which accepts this payment processor as payment option.

wesley · #3 (**permalink**) 05-23-2007, 01:12 AM

Is it because of the gaming issue that you can't use them? The whole thing about the US gov't trying to shut down online gaming?

I know you have to be careful with the individual bank merchant accounts. They were always very particular but I think they are making it more difficult to do do business online.

kingjacob · #4 (**permalink**) 05-23-2007, 01:18 AM

Ive always just used paypal, I tried out egold once because a client wanted to pay me in it but its a poorly designed system and I dont really understand what they are trying to do with au market prices.

squirrel · #5 (**permalink**) 05-23-2007, 02:03 AM

I personally think egold is a good payment processor. Its coverage is worldwide. It is secured since it has layers of security features in place like its virtual keyboard, PIN, IP check and truing number. It is definitely a pro merchant because of its no chargeback feature. Your egold transaction is good as final.

moaid123 · #6 (**permalink**) 05-23-2007, 03:07 PM

from my point of view egold and moneybookers are the best now . they cover all the world . but as a webmaster you mus rely on paypal because most of the pepple using it but the problem : paypal does not support all countries to receive and send money .
you must avoid stormpay they scammed the people

AffiliateSeeking · #7 (**permalink**) 05-23-2007, 03:16 PM

I don't even think Stormpay exists anymore. I tried going to the site a few days ago and it now seems to be some sort of Auction site.

Xenigo123 · #8 (**permalink**) 05-24-2007, 12:38 AM

Quote:

Originally Posted by moaid123

from my point of view egold and moneybookers are the best now . they cover all the world . but as a webmaster you mus rely on paypal because most of the pepple using it but the problem : paypal does not support all countries to receive and send money .
you must avoid stormpay they scammed the people

Egold supports gaming sites, and so does Moneybookers. If you are not located in the US then it is not a problem, but I know Egold is in hot water in the US for processing gaming transactions for US customers, and it wouldn't surprise if Moneybookers is on their list. The problem is whenever execs from the payment processor companies come into the US they are arrested immediately, and usually end up making a deal to no longer service US customers. In the process they seize the money held in US accounts and don't always give it back. Do a Google search on Neteller and you will see what I mean.

gladiator · #9 (**permalink**) 05-24-2007, 02:27 PM

I think what to avoid is keeping much funds in your account regardless of payment processor. Just maintain funds which you need instead of making your payment processor your online vault.

buffalo · #10 (**permalink**) 05-24-2007, 11:05 PM

Quote:

Originally Posted by Xenigo123

Egold is in hot water in the US for processing gaming transactions for US customers

Not just gaming transactions, but they were processing payments for child porn sites and other illegal activities!

Egold was a great payment processor, and I would like to see them get through this unharmed, but their future looks pretty bleak! It's interesting to see what will happen.

Stroh · #11 (**permalink**) 05-25-2007, 12:20 AM

I never understood eGold... Everyone demanded it, and I only had like $2 in it. I never really explored the whole thing inside it... I was gonna learn more, but apparently, the US is trying to shut it down. Also it was easy to sign up, no ID required... which is a major no-no in the US because you can basically cheat on taxes.

muffin-man- · #12 (**permalink**) 05-30-2007, 06:11 PM

I would definitely avoid StormPay. The only people who use it at this stage are those who have funds left in their account and want to get rid of them. It's virtually non-existent at this stage

SSJJ · #13 (**permalink**) 05-31-2007, 06:44 AM

Stormpay is going to be closed....

paranoid87 · #14 (**permalink**) 05-31-2007, 07:13 AM

SSJJ do you really think it will close?i think rather that thye might improve their security of their site and user accounts and do some kinds of upgrades on their systems and be back in business...

its not so easy for it to just close down...

khulja · #15 (**permalink**) 06-04-2007, 03:42 AM

I think what to avoid is keeping much funds in your account regardless of payment processor. Just maintain funds which you need instead of making your payment processor your online vault.

annera26 · #16 (**permalink**) 06-05-2007, 07:59 AM

stormpay is a scam site i used it and had some 17 dollars in it and suddenly they closed my a/c i mailed them but received no reply from them they are really scammers . whereas i dont understand why people like e-gold my favourite is paypal and trust their services.

joshua · #17 (**permalink**) 06-05-2007, 02:46 PM

If you want a good payment processor go for Paypal and Moneybookers.I predict that all the others will sonner or later be closed.
The advantage of moneybookers is that it is available all over the world unlike Paypal.