PayBox.me Has Finished It's Re-branding, It's Now VirtaPay
As they have been saying on their blog for a couple weeks now, PayBox has finally finished the change to it's new name "VirtaPay". Click this link for more articles about what they were doing before they were VirtaPay.com. As I and many other savvy network marketers noticed when PayBox was first opened in September of last year, the name PayBox was already a trademark of another company. The other company called Sybase is a large international and multi-billion dollar publicly traded company and many marketers, myself included, speculated that PayBox would have to change its name or face lawsuits. Now we have VirtaPay, a name which doesn't seem to conflict with established trademarks. There are a lot of VirtuaPay websites, credit cards and payment systems, so remember there's no u in the new name, it's just VirtaPay. After Paybox having the exact same name as a current payment system, I'm guessing that the new similarity was intentional.
If you don't know what I'm talking about, here are several articles about whether VirtaPay.com and other past, present and future scams. So now, six months after they opened where does that leave us with VirtaPay's progress? First, members have been voting on debit card designs since late last year. No word yet on any winners and I haven't heard of anyone being issued a debit card. According to VirtaPay it is still a closed system and their currency can only be exchanged in person to person transactions between members. VirtaPay states that they still have to open up the system in order for the virtual currency to be spent at online merchants.
The question on everyone's mind is when will the currency be spendable? It may take a long time, if ever, for VirtaPay currency to have any value. On their roadmap VirtaPay says that once the re-branding is complete they will take steps to make the currency exchangeable for digital goods. I'm assuming they mean things like e-books, scripts, software etc,. However, I have also read that VirtaPay would like to have 2-5 million users before online merchants would "take the currency seriously" (I'm paraphrasing a little). The latest numbers I saw were estimates saying they had about 300,000. So it is possible that they will never reach the 2 million member target.
A lot of marketers keep asking how a free to join website could be a scam. The word "scam" means a lot of different things to different people. VirtaPay (at least at the present time) WILL NOT steal your money. But they do make money off of you in other ways. When you sign up they do put your email on their mailing list, which internet marketers know has a lot of value to them. I was told by some other members that there are recommending several other marketing programs, of which I'm sure VirtaPay receives referral commissions from. You are also asked to subscribe to their blog. In addition, up until about the beginning of 2011, they had Google adsense on the site and asked members to log in everyday to complete tasks while they were also gaining revenue from those members clicking on advertisements. Whether you think its a scam or not, their terms of service that you agree to when you sign up guarantees that VirtaPay is not doing anything illegal. It also makes it so the VirtaPay currency never has to have any value and they can just keep getting revenue from their user base without delivering the actual payment system they boast about.
Sunday, March 20, 2011
Direct Pay Profits Scam Has Fully Launched
A new opportunity for network marketers to make money called DirectPayProfits.com recently started its pre-launch phase. While reviewing this site I couldn’t help but notice similarities between the site design, graphics and terminology used in the text and the PayBox.me website. I have yet to find any definitive answer about the owner(s) of PayBox and people have ventured many educated guesses in the forum at Asset Investing.com but I'm always looking for more information. The visual similarities aside, Direct Pay Profits and PayBox seem to be very different programs.
What's Different About Direct Pay Profits?
The first essential difference is that DirectPayProfits is offering to pay their affiliates is US dollars and not a virtual currency. Direct Pay Profits is free to join, at least during their pre-launch phase and will add $10 to your account once it is set up. The initial account set up process requires you to give them your name and email. One inconvenience that has become all too familiar is that you must wait until the official launch before you’re able to get paid. But on the plus side, this allows you to sign up free and get referrals at zero cost to you. Direct Pay Profits says the minimum pay out is $50 and in order to get paid once they launch you will have to provide additional information such as your social security number or tax id number. Once Direct Pay Profits goes into full launch the cost will be $29.97 per month. Individuals will receive $20 per month for each premium customer that they refer to the service. Direct Pay Profits is also offering a $100 monthly bonus for referring 10 paying customers.
Who Created Direct Pay Profits?
Unlike the ambiguous ownership of PayBox.me, Direct Pay Profits is owned and operated by internet marketers Derrick Van Dyke and Todd Gross. Both of whom have personal web pages and numerous social media accounts. While some portions of Direct Pay Profits website are not yet fully operational like the forum and training center, the frequently asked questions does provide more visibility into their plans than most programs. Also, according to the Direct Pay Profits website they plan to launch sooner rather than later and say they will finish the pre-launch phase by the weekend. As with any MLM program I suggest you do your own, more extensive research beyond the scope of this article before you give personal or bank information to them.
Update On The Progress Of PayBox.me
Another reason why I’ve mentioned PayBox so much in this article is because it has been around for nearly six months now and I thought it was time to provide another update on what they are up to. There has been no word yet on what value the PayBox Currency may have and they have opened up voting on designs for debit cards. To my knowledge they have not issued debit cards to any users. They have said that they are working on changing their name and re-branding their website (like I said they would have to in a previous article, as the trademark PayBox is owned by another, unrelated company). Another change I’ve noticed is that they have removed all Google Ads from the site. The next step after re-branding is supposed to be their Digital Delivery Project which will allow early bird users to use their account balance to buy digital goods. This might provide a window into the approximate value of Paybox currency. I will update everyone once their re-branding is complete. Also check the link below for information and updates on these and other mlm programs
What's Different About Direct Pay Profits?
The first essential difference is that DirectPayProfits is offering to pay their affiliates is US dollars and not a virtual currency. Direct Pay Profits is free to join, at least during their pre-launch phase and will add $10 to your account once it is set up. The initial account set up process requires you to give them your name and email. One inconvenience that has become all too familiar is that you must wait until the official launch before you’re able to get paid. But on the plus side, this allows you to sign up free and get referrals at zero cost to you. Direct Pay Profits says the minimum pay out is $50 and in order to get paid once they launch you will have to provide additional information such as your social security number or tax id number. Once Direct Pay Profits goes into full launch the cost will be $29.97 per month. Individuals will receive $20 per month for each premium customer that they refer to the service. Direct Pay Profits is also offering a $100 monthly bonus for referring 10 paying customers.
Who Created Direct Pay Profits?
Unlike the ambiguous ownership of PayBox.me, Direct Pay Profits is owned and operated by internet marketers Derrick Van Dyke and Todd Gross. Both of whom have personal web pages and numerous social media accounts. While some portions of Direct Pay Profits website are not yet fully operational like the forum and training center, the frequently asked questions does provide more visibility into their plans than most programs. Also, according to the Direct Pay Profits website they plan to launch sooner rather than later and say they will finish the pre-launch phase by the weekend. As with any MLM program I suggest you do your own, more extensive research beyond the scope of this article before you give personal or bank information to them.
Update On The Progress Of PayBox.me
Another reason why I’ve mentioned PayBox so much in this article is because it has been around for nearly six months now and I thought it was time to provide another update on what they are up to. There has been no word yet on what value the PayBox Currency may have and they have opened up voting on designs for debit cards. To my knowledge they have not issued debit cards to any users. They have said that they are working on changing their name and re-branding their website (like I said they would have to in a previous article, as the trademark PayBox is owned by another, unrelated company). Another change I’ve noticed is that they have removed all Google Ads from the site. The next step after re-branding is supposed to be their Digital Delivery Project which will allow early bird users to use their account balance to buy digital goods. This might provide a window into the approximate value of Paybox currency. I will update everyone once their re-branding is complete. Also check the link below for information and updates on these and other mlm programs
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