YouTeller, a hopeful start-up in the gambling payment processing industry has announced an indefinite delay in their anticipated launch due to legal complications with payment giant Neteller.
The announcement comes weeks after already troubled Neteller issued a cease and disist order to YouTeller sighting the suffix “Teller” as a potential infringment on their existing customers due to confusion between the names of both respective services. YouTeller, owned by UK based Seed Capital LTD has decided to hold off on the launch of the website unless the issues surrounding Neteller’s claim are sorted out in a timely fashion. This is a smart business decision as the legal costs associated with fighting the claim would most likely outweigh the benefits for start-up in the questionable gaming payment processing field.
This probably does not come as a huge surprise to awaiting customers, as the original launch date of YouTeller (March 2007) has come and gone many weeks ago. To their credit, Seed Capital commented that if the claim could not be worked out they would rework their corporate identity and launch a new processor sometime in the summer.
Neteller is taking a strong stance in this battle considering their current legal situation but has shown that it still intends to protect its brand and service customers outside of the American and Canadian spectrum.
