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Originally Posted by PayAsYouClick
Hi Webby,
Thanks for the positive words!
The Money Service Business just means we are registered with customs and excise as a business that moves money from one place to another. We're subject to various regulations similar to the Patriot Act in the US.
The Financial Services Authority regulations are much tougher and more relevant. They dictate how we handle clients' money, and put us under similar reporting and conduct requirements to a high street bank. For example, we hold all client funds in an escrow account so they are protected from any and all eventualities.
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Thank you for taking the time to answer in full :-)
I like it all, - and understand the reasoning for the $2 level after seeing the lot in action. The killing off of a card companies interest at the stage of funding the customer account is... excellent!!
Thank you Danny!
reynold:
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how many more posts about this do we need?
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As many as are needed to let it sink in.
It does not take more than one brain cell to realize what is being offered as a payment model by payasyouclick.com has many of the ingredients that *should* already be in place as part of what we currently know of as "third party processing" where there are not even basic forms of client indemnity/insurance or oversight, - just a load of "promises", "maybe's", "when's" and "looking forward".
And.. it beats threads titled - "I'm going for a shit - anyone want pics?"
