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  1. #1
    Affiliate Network Rep
    Join Date
    April 24th, 2006
    What's going on with Stormpay?
    Does anyone have updates on Stormpay?

    Few months ago I've heard that they have financial problems and that people couldn't get their money out of their account.

    We stoppted using Stormpay, but I am just curious how the whole story ended...


  2. #2
    ABW Adviser Panel Dynamoo's Avatar
    Join Date
    January 18th, 2005
    Opposite the Slough of Despond
    Stormpay stopped processing payments for anything other than Stormpay's own auction site about a month ago.

    I believe that Stormpay has run into trouble with the FBI and SEC over it's longstanding relationship with alleged Ponzi (pyramid) schemes such as 12DailyPro and others. Stormpay often acted as the payment processor for these schemes - it wasn't actively involved in any fraud.

    There are also accusations that Stormpay was operating without the appropriate financial licenses.

    It looks like they are in deep, deep sh*t at the moment. It's unlikely that they'll survive much longer.
    Innovative advertising with Slimeware Corporation and Telephore. Mail-order fuel with Petrol Direct.

  3. #3
    Analytics Dude Kevin's Avatar
    Join Date
    January 18th, 2005
    Rochester, NY
    While I was keeping an eye on the whole pixel craze months back, I read alot of bad things about Stormpay, and how they WEREN'T paying to members of a particular MLM based pixel site.

    While I certainly didn't cry over it, it looks like like a lot of folks got taken by either SP or the MLM. Go figure
    Kevin Webster
    twitter: levelanalytics

    Kayak Fishing
    Web Analytics and Affiliate Marketing

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