Fastpay Casinos

Unfortunately or fortunately depending on how those effected want to look at it NatWest, FastPay has been shutdown. It has been terminated since 15th July, 2005. FastPay was used as a wire transfer casino deposit system, utilized for deposits in China. Established by NatWest who is an reputable e-commerce supplier worldwide. If you were using FastPay and had a Chinese bankcard, a player could deposit immediately into their casino account from their bank account without any hassles. FastPay was exclusively for Chinese banking customers. This may be a reason for its demise. Although China is a growing economy and has wealthy citizens it still isn’t enough to support a system like FastPay. In these times it’s difficult for newer methods to climb the casino payment industry ladder.

NatWest stated that FastPay no longer suited their UK banking plans. The story goes that in the beginning NatWEST teamed with a UK located e-payment system seller Magex to inaugurate the transfer service in August 2002. The FastPay funding method permitted anyone with an e-mail address or a mobile phone number to send and receive payments. FastPay is the most recent number of online person-to-person systems to fail. Citibank cut the cord on its C2IT person-to-person payments business in November 2003 because of low user numbers. Yahoo! shut down Pay Direct a year ago, a person-to-person money transfer service managed in connection with HSBC, because of meager customer interest.

The person-to-person banking industry is dominated by Ebay’s PayPal system. And it looks like their not going anywhere. Studies released by Gartner in 2002 displayed that PayPal was by leaps and bounds the most trusted and utilized of all Internet person-to-person systems in the United States. The study also went on to claim that PayPal would be the company in all probability to establish an e-cash criterion for low value Internet payments. FastPay just didn’t stand a chance, especially alongside the big players like PayPal. The world could probably come to an end and somewhere amid the universe there will still be a computer screen blinking with the PayPal logo. It’s a force to be reckoned with. As the saying goes “if it ain’t broke don’t try and fix it.” PayPal is now on the prowl for ways to increase past online auctions and has recently collaborated with numerous online retailers like Overstock.com, Walmart’s and Apple’s iTunes online music store.

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