 PrePaidATM
has been the focus of some criticism in the industry as both
players and merchants have expressed concerns over PPATM’s
safety and viability as an offshore funding option. Recently,
JoeWager.com had the opportunity to speak with the president
of PrePaidATM in the following interview: JoeWager.com
Exclusive
Interview with PrePaidATM President Allen Ross
JoeWager.com:
In the past, we’ve referred to Allen Ross as PrePaidATM’s
ownership. If this is incorrect, please provide clarification
as to your relationship with the company.
Allen
Ross:
I am the President of PrePaidATM. I work between 16-20 hours
per day, 7 days a week on PrePaidATM, as my clients know.
However, I am not nor have I ever been a stockholder. PrePaidATM
is a privately held company with between 10 and 20 shareholders.
JW:
How do you answer critics who suggest that having an offshore
funding company operating from the United States may not be
as safe, legally speaking, as funding methods located outside
the US?
AR:
All of PrePaidATM merchants have agreements with PrePaidATM
Ltd., which is a Canadian company. PrePaidATM in the U.S.
is only for cardholders and customer service for both the
cardholder network and the Canadian merchant network. I do
not ever comment on legal issues. We have a team of attorneys
who know their business.
JW:
Why would a shop like Canbet cease conducting business with
PrePaidATM?
AR:
The problem with Canbet was one of fear with alternative payment
solutions, as they lost quite a bit of money when SecureBuxx
closed their doors. I am hopeful that our discussions with
Canbet will bring them back as a merchant. JW:
In light of the SecureBuxx fiasco, the Patriot Act, and other
ongoing legal and financial issues affecting the industry,
how do you reassure folks that PrePaidATM is a safe method
for offshore transactions? AR:
If we are talking about our cardholders, then the answer is
simple, as the cardholders are the only ones that have access
to their funds. If we are talking about merchants, their contract
is with a Canadian company, just like Neteller. JW:
Finally, Allen, anything else you’d like to add with
regards to PrePaidATM as an offshore funding method would
be greatly appreciated by our readers. AR:
The PrePaidATM software for both merchants and cardholders
is a good 2 years beyond any competition. Our cardholders’
network will be expanding from only U.S. citizens to worldwide
during the last quarter of (2003). There are so many more
features for cardholders and merchants on the horizon that
will keep us way ahead of any competition.
From
PrePaidATM's website at http://www.prepaidatm.com:
PrePaidATM
Cardholders enjoy a variety of funding methods. Choose the
funding method which best suits your needs:
- Card
to Card Transfer
The quickest way to fund your PrePaidATM Card
- Instant
ACH (Electronic Check)
Send up to $1,000 in a 7 day period INSTANTLY
- ACH
(Electronic Check)
Funding your PrePaidATM Card from your checking account
is made easy
- Credit
Cards
Use your MasterCard or Visa to fund your PrePaidATM
Card
- BillSubmit
You can now send an Express Payment Money Gram, and
INSTANTLY transfer the funds to your PrePaidATM Account
- Bank
Wire
Wire funds directly to your PrePaidATM Card
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