Neteller's fall attracts online payment competitors

Neteller's decision to abandon the US market has inspired a number of imitators willing to violate Washington's ban on financial transactions involving online gambling. For the time being, the most talked about is YouTeller, a privately held e-wallet based in the United Kingdom. Because the company is not publicly-traded, it is seen as less vulnerable to legal action than predecessors like Neteller, Eye on Gambling reports. The founders are gambling that demand for the service will be high given the lack of alternatives. To sweeten the deal and attract new customers the service will not charge users for transfers. The service is scheduled to launch in March.