Quote:
Originally Posted by Tjeezers
option 1, gamble and poker money
option 2, they refused to communicate with VISA about regulations and stuff, they turned a blind eye
option 3, epass lost a lot of revenue before the shit hits the fan cause of a decline in sales world wide since crisis. Decline cause people earned less, so automatically lesser revenue for epass
option 4, Chris toke a loan on all the wallet fundings and cant pay back ? ( this is just a speculation that comes to mind )
|
It is definitely a complex thing...it's probably all the above plus :
- fraud...a lot of fraud was happening with epassporte cards witch resulted in a lot of issues with Visa. When i mean a lot i mean % wise....
- again i am sure the fraud, money laundering and the past issues with gambling has put epassporte on a very tough watch list
- the bank did not have any real normal customers to balance/blend the transactions and hence the % with problems was very high. Probably Epassporte was moving trough SKNAB accounts in 1 month more than SKNAB would normally move in 1 year with their customer base...
- United Bank - despite the fact that money are probably missing from Epassporte funds to fund the blockbuster movie, i think their plan was much bigger with the opening of their own bank (United Bank)....they have moved wires from Fortis to United Bank about 2 month ago and MOSTLY SURE in the next 6-7 month they would have started to issue cards directly from United Bank (visa or mastercard) and hence leaving SKNAB out of the loop, with epassporte having full control/ownership of everything. SNKAB of course knew about this and knew they would be out of the loop soon, so probably when things added up and visa wanted to shutdown epassporte, SKNAB had almost no interest to fight for epassporte and risk a bad relationship with Visa, as SKNAB new that they would be out of the epassporte bussiness pretty soon...
It is definitely a bad relationship now with Epassporte as since they have reactivated the cards for withdrawal, they could have done this along with epassporte. Also they could have requested the docs trough epassporte, but instead they have cut their access to the cards database so epassporte could not even display ballances... I think epassporte might come back in 1-2 years with another name with cards issued from United Bank...