Quote:
Originally Posted by WiredGuy
Lack of revenue and circumstances beyond our control? Wasn't epassporte's core business p2p money transfers? It sounds from the closure notice that the virtual visa was the primary source of revenues. Something doesn't seem right here to me, losing a secondary revenue source is one thing, but to shut down the entire business? Odd to me.
WG
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They lost all the fees from wire tranfers coming in and then paying out to each affiliate account. Basically without a card for ppl to easily withdraw their money, there's no way to recover... It would take months to setup something else with a different bank and maybe Mastercard, and by then it would definately be dead. So he probably just decided to cut his losses.