Thy're popular, but they're only available in to US accountholders, which makes me wonder about all of the offshore places that seem to use them ... I mean, that makes PPATM immediately susceptible to any US legislation regarding transactions for gambling etc. Also, they require far too much info from accountholders.
On the merchant end their Category I merchant fees are so high it's hard to believe so many sportsbooks use them ... frickin 4% with a cap of $ 100.00 per transaction, plus a 10% rolling
reserve requirement.
This is a shitty service that costs too much, but is filling a niche that the 'regular' credit card companies have left behind. The market will provide a better alternative in time hopefully.
All of the services I have mentioned here before, such as
e-gold are cheaper for the merchants, less intrusive to the accounthodlers, virtually fraud proof, and on a stronger footing to fight legal problems with the DoJ should they arise.
Phaedrus