Quote:
Originally Posted by Hermes
So the prepaid card issuing bank saw some "program deficiencies" with epass. Who knows, it could be related to new prepaid card regulations, or just some balances didn't match up. I'd just like to see some real info, but now there's only all kind of theories around.
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60 days before st kitts pulled the plug the gov made visa issue new rules for prepaid cards, they gave prepaid visa banks like st kitts 30 days to comply. but that's not the whole story , st kitts makes nothing by pulling the plug. st kitts WANTS epass to comply. Problem is st kitts bank can use the fact epass is using wallet to bypass st kitts as leverage, by saying they would be required to file reports on those transactions. Epass can't possibly comply under the existing rules if the bossman(st kitts) is being a stickler. st kitts wanted a deal with epass to make more $$ , is my guess.