Entropia's Cash Cards cancelled |
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ATM Marketplace reports that MindArk's MMORPG, Entropia Universe, wanted to do something different for players. It wanted to let players withdraw in-game money as real-world dollars. In May of 2006, MindArk announced a planned new ATM card to make it happen.
The Entropia Universe Cash Cards were supposed to simplify the process of money withdrawal for players by allowing them to withdraw their PEDs (Project Entropia Dollars) as real-world currency at ATMs.
Jon Jacobs (known within Entropia as Neverdie), an artist/filmmaker who spent US$ 100,000 of a loan against his real-life house to buy an Entropia space station which he resold as apartments and commercial space, called the Entropia Cash Cards "the Holy Grail of massive multiplayer gaming that everyone has been looking for."
Sadly though as revolutionary as the scheme was, the ATM/cash card scheme had to end.
The plan seemed all well until January 2007, when players were informed that MasterCard would no longer support ATM traffic from the card's backing financial institution, North York Community Credit Union of Ontario, Canada. Because of this development, Entropia announced refunds to be credited to players' PED accounts.
Via ATM Marketplace
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Comments [refresh]
Entropia Universe cash card was not the only one affected.
Other credit cards that relied on NYCCUO, are also down.
It is just the provider that suspended the service, MindArk couldn't have done anything.
But they have already said that the card is going to return as soon as they solve this matter (get a new service provider) and that the current cash card owners will be issued a new card at no cost.
Also the two year banking licenses have nothing to do with the cards!!!