YouTeller Launch Delayed
By Miriam H
After a series of legality issues with leading e-wallet NETeller, the company behind new payment processor has made a decision to postpone the site’s launch.

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

If Seed Capital does not manage to secure a resolution to the legal battle with NETeller the unveiling of the online payment system will take place next summer.

Seed Capital has also quashed rumours of a takeover bid by NETeller Plc and reiterated that they do not want to be viewed as a ‘traditional online payment system’.

A month ago NETeller’s legal counsel called for YouTeller to cease to conduct payment processing business under the name YouTeller, over concerns that the name would be linked to their brand:

‘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,’ the letter stated.

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