Following the demise of OMNIPAY, CashCards.net is the new primary dealer for e-gold payment system. The following is an excerpt of a publication earlier this month, announcing the new move by e-gold:
Since 2006, OmniPay the original primary dealer for e-gold, has been out of business. With the loss of OmniPay, e-gold® independent agent exchange rates have risen from 2-3% all the way up to 25% in some cases. The ‘exchange rate’ is the fee an independent agent charges to exchange national currency into digital currency that can be used online. Sending national currency to purchase e-gold is called an ‘inexchange’ and withdrawing digital currency into national currency is known as an ‘outexchange’. All exchange transactions for e-gold are handled through third party independent exchange agents. E-gold Ltd. has never even had a bank account and does not accept customer funds.
With a new primary dealer, it is believed that these exchange rates might fall back to normal ranges(3-6%). E-gold is still widely used around the world for Internet commerce so this information is welcome news for all account holders.
Mr. Renner also has the longest running e-currency debit card ever created in the history of digital gold currency. Knowing that over the past decade hundreds of other card companies have started and gone out of business, the CashCards.net operation is a rather monumental success story.
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