YouTeller not to be confused with NETeller

An online payment processor hoping to usurp NETeller's position in the U.S. online gambling market has met with more controversy. Lawyers for the embattled e-wallet are now warning YouTeller not to violate on its company trademarks.

In a Feb. 28 letter to YouTeller parent company Seed Capital Ltd., NETeller's legal counsel demanded the newcomer cease to conduct payment processing business under the name YouTeller or

"Such use by Seed Capital Ltd. causes confusion, including initial interest confusion leading to persons familiar with the teller-suffixed brand of services to believe Seed Capital Ltd. is somehow affiliated with, related to or endorsed by our client," the letter states.

YouTeller was given until March 5 to comply with the demand, which the letter describes as "a brazen attempt to launch a new brand coat-tailing on NETeller's reputation and good will."

The message was delivered: YouTeller has now added a disclaimer to its Web site. Small type on the homepage says, "Seed Capital Ltd. is not affiliated with, related to or endorsed by NETeller Plc."

Though it's currently under construction, the YouTeller site promises to start its services in March. The mysterious company plans to operate on an exclusive invite-only e-mail system, similar to that offered by search engine Google.

NETeller, meanwhile, continues to operate out of Europe after withdrawing from the U.S. market following the arrests of its two founders in January for allegedly promoting illegal gambling in the U.S.

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