Youteller , a much discussed replacement to Neteller , is set to launch on March 1st .

New customers will be able to register a YouTeller.com account only at a member's invitation. "Our servers could not handle the traffic if we open our doors for a public sign up. But it is our first priority to provide our customers with a stable service and a reliable support", says Florian Schweitzer, spokesman of the London-based technology company Seed Capital Ltd. and adds: "YouTeller.com follows the GMAIL model. It will be a community-based payment processor". Within March YouTeller.com will invite 1000 customers, who have already signed up during the preregistering period. Public account registration is "not planned within the next few months".

Schweitzer believes that their "150 Euro per account and transaction limit" will help them to be "not interesting for terrorists or other criminals". "Our target group are people who play community-orientated online games like poker, chess or role-playing games. People who need instant and worldwide payment processing." underlined Schweitzer.

The network-orientated registration process has a second advantage: The security system can track money laundering networks easily. Schweitzer emphasizes that they will cooperate with national and international institutions in cases of money laundering while they care about their customer's privacy. "We will not give anybody access to our customer's personal information except when a court or governmental regulators may require us to disclose information about them. In this case we will disclose only the information which is required", declared Schweitzer.

Earlier this month, shortly after the Isle of Man-based payment processor Neteller had announced its decision to pull out of the US gaming market, Seed Capital Ltd. introduced their new payment processing service ‘YouTeller.com'.