by Pete Penner
This will be the new way to pay all your online payments and will give pay pal something to think about.
Recommended Features
  • fifty dollars just to sign up
  • five dollars per referral
  • up to 20.00 a day for avtivity
  • be first reap the rewards
Learn more about THE NEW WAY TO PAY!»


SO far this site looks great but requires you to be an active member. Please read the site rules carefully and follow accordingly. I have earned with the signing bonus included over $115.00 so far in just a few days.

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About Pete Penner Innovator   

36 connections, 0 recommendations, 79 honor points.
Joined APSense since, August 15th, 2010, From Canada.

Created on Sep 12th 2010 20:52. Viewed 1,030 times.


Pete Balasch Jr. Magnate I   Internet Marketer Pod caster
There was one like this a couple of years ago Called Green Zap I told folks not to do it. Guess What they Zapped the Green alright out of the Peoples Pockets. Unless you want to get ripped off Make sure you investigate who is the CEO of the Company do they run this from a kitchen table? I don't think this will Give paypal any thing to think about.
Sep 13th 2010 01:33   
Bj aka Bill Brown Magnate I   Hosting and Backup Service provider
quote" All account balances are held in PayBox currency. PayBox maintains a currency that is autonomous and independent of all nations and governments. " unquote.

This is a scam -- any pay processor that holds your money in anything but a real currency is not controlled by any banking rules and they can change the value of their ersatz currency as and when they please.

this system wont allow me to post a link so here is my post about this that you can find in 2.0. Topics > Affiliate Marketing Issues > ID: 1457 [Article title] What currency is your payment processor using?

What currency is your payment processor using?

You will find many people telling you to do your Due Diligence when considering joining a program. but one thing that is consistently over looked is what currency unit the program is using.

Is it a REAL Currency or something the program owners dreamed up.

In most cases the currency the program refers to will be US$ or in some cases Euro's. However if they refer to xyz$ (xyz often being the name of the program) then they are referring to a fictitious currency which the program owner can change the value of at any time they feel like it.

Lets use my favorite fictitious example - MyScam.

So MyScam starts up a payment processor program called MyScamPay.

They are not, and have no intention of coming under the banking laws of any land so instead of holding your money in a real currency they use a fictitious one they make up. They will say that $1 MyScamPay Dollar is worth US$1.

So when you deposit hard currency funds of say US$100 they actually show up in your account as $100 MyScamPay Dollars, in other words 100 credits. This may seem fine on the surface BUT the problem is MyScamPay can change the Value of these credits at any time they feel like it. Somewhere in the TOS will be (usually in very small print) "We reserve the right to change the value of the MyScamPay Dollar as we see fit. (or some such get out clause).

Wat will happen eventually is either they will just vanish without trace or they will claim that things didn't work out and revalue their MyScamPay Dollars down to for example US$0.01.This means your $100 is now only worth US$10.

You Should NEVER use any on line Payment Processor that does not use real currency.
If they are using what ever fancy name currency unit as their currency this means that they are NOT a registered financial transaction company and are therefore NOT governed by the financial laws of any country.

You are effectively exchanging hard currency for credits, and the credits can be revalued at any time or even declared to have a zero value, thus leaving you out of pocket

You can try to fight this but it wont do a lot of good because firstly you probably wont be able to find them and as I said earlier somewhere in the TOS will be (usually in very small print) "We reserve the right to change the value of the MyScam Dollar as we see fit. (or some such get out clause). You agreed to the programs TOS when you Joined, even if you did not read them.

All the program owner has to say is well sorry but things didn't work out as they were planned and we suffered financial losses so had to revalue the MyScamPay Dollar, and pay out something rather than the members getting nothing.

This makes them appear to have been willing to pay even though they had it planned from day one not to, and they walk away with a nice fat profit and close the site down leaving everyone out of pocket.

Lessons to learn from this are

DO NOT Join ANY program without reading the TOS first.
DO NOT Join ANY Program that is not referring to REAL CURRENCY.
Sep 13th 2010 09:16   
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