Service Description
VirtaPay is a new online payment processor due to launch sometime in 2011. VirtaPay was formerly known as Paybox. It is going to be an online currency and payment processor to make buying and selling easier, safer and secure for everyone.
They are in pre-launch right now. The website is not fully functional yet. It doesn't cost anything to join, and you can join now.
Detailed Overview
VirtaPay is an online payment processor where people will be able to send money to others and use it to purchase items within the VirtaPay website. You cannot withdraw the money for your own use. Maybe once the website takes off, they will make withdrawing the money available. I personally do not think people are going to use it as a payment processor if they cannot have access to their money.
VirtaPay will be a competitor of the world's largest payment processor which is owned by the biggest online auction website. Companies who have come up with a similar concept usually fail eventually.
By joining, it costs nothing. When you join, you will receive $25 VirtaPay money in your account. You can refer people and make $10 for every referral who joins with your affiliate link.
Once you join, they encourage you to remain active and participate in reading their blog, participating in surveys and doing other tasks.
If you are inactive for a short period of time, the VirtaPay money will stop being deposited into your account. If you remain inactive for a long period of time, you may be at risk of your account being canceled.
Personally, I am hesitant about using VirtaPay as my own personal payment processor as I won't be able to withdraw the funds. Also, because the company's information is not public, it makes me hesitant about giving any of my personal information to them.
There is no risk as of right now as there is no investment. It might be a risk if you use them as a payment processor and do not get access to your money.
It is a website we can watch and see how it unfolds.
Reputation
Because the business is new, there is no record with the Better Business Bureau as of right now.
I am skeptical in trusting the company/website as of right now because of not being able to use the money in my own account.
Companies usually have their contact information on their website. There is nothing stating how to contact the company. It doesn't say where they are located and who owns them.
Domain "Whois"
The Whois information for a website lists the owner and their contact information. The Whois information for "VirtaPay" is public which is generally a good thing. This indicates the owner of this site has nothing to hide.
