Quote:
Originally Posted by NewNick
To say that they took peoples money to invest in Redpass might be true, but I dont imagine we are talking about a lot of money.
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I have no clue how much it costs.... But I would only assume that to have a company that can actually issue a credit card probably takes a LOT of money and collateral to even be considered. Especially when the whole thing is linked to adult ("high risk" fee bullshit that MasterCard charges...Redpass is a MasterCard by the way).
All I know for damn sure is...when I first opened up a Zombaio account they were kicking ass. Everyone was sort of buzzing about them because they were able to offer lower rates than the rest of the third party guys.
I remember the last Internext that was held at The Palms Casino they had like 100 people there representing them and took up an entire section of the floor space that was set up at "Rain" nightclub for Internext.
And that was to announce Redpass.
Right after that...rates went up. There were many discussions about it on here. And Tomas came on and swore that they weren't using money from Zombaio to fund Redpass.
And then Redpass started "glitching" (turns out on purpose), where you couldn't load your money onto the card.
At first they would get it loaded for you "manually" by the next day.
But it didn't make any sense as to why you couldn't move your money straight onto the card electronically.
And the only reason I started using Redpass was because if you tried to do an ACH to your bank...it would sometimes take up to a MONTH!!!
Now Redpass is just as bad. And to top it off they are now not even doing the theoretical payout on time.
So you have to wait a month or so late to theoretically see the money. And then another month or so to finally get it in your hands.
And the whole time they were blaming everything on the bank they were using.
I pretty much firmly believe that the beginning of the end was when they took people's money and started Redpass.
It was a huge mistake.
If they had just stayed as a processor they would have been pretty damn big by now because they were gaining clients like crazy.
Not anymore.