Do you remember Paybox.me? They showed up almost a year ago and tried to look like a serious big bank or other similar player on the finance market with the intentions to start a payment processor like Paypal.
They wanted us to be what they called “early bird members” and take part in several activities like answer surveys, vote on credit card designs and vote on what companies should be allowed to offer their products on Paybox.me. If you signed up as a free early bird member and performed these tasks, you could earn a balance of virtual $ that increased pretty fast. They even indicated that the virtual $ could be as valuable as the US $.
We decided to sign up to see what this was all about. It was very easy to log in every day and increase the balance of virtual $$. And it was extremely easy to recruit new “early bird members” into this. We recruited more than 200 people into this before we got very suspicious about the company.
Now they wanted to convert their early bird members into affiliates and it was now we started to realize that this wasn’t what we thought it was. Yo will understand if you read this blog post we posted at that time. We now decided that this was some kind of scam and we stopped to recruit people into Paybox.me and posted this on one of our blogs.
We are now in the middle of September 2011, more than half a year after my last blog post about Paybox.me. Ever since our last blog post we have, out of pure curiosity, been logging in almost once a day and our virtual $ balance is now $7,284.36. During this time a lot of things have happened. They have changed their name to Virtapay and they have created a kind of market place where the members have been able to sell to, and buy stuff from each others using their balance of vitrtual $$. We haven’t been able to really understand the reason for this trade of mostly crappy products and very strange services and we havent been into it very much. We have stayed with them just to see where they are going.
A few weeks ago they started something they call the Ad Sharing program. They have had Ads for the most popular Clicbank products on the site for some time and we think they have made significant earnings from them. We also think that they have had a lot of problems getting new sign-ups after the fuzz about scam six month ago. They had at that time around 100,000 members and there are indications showing that they have just about the same amount now and are in need for more. That is probably the reason for the Ad Sharing program. If you buy a Clickbank product from the site that they earn commission on, you have qualified for the Ad Sharing program and you can start to build your own AdSharing Network by recruiting new members into Virtapay. People in your network will see your affiliate link for for the Clickbank products 50% of the time. The way they describe the program in videos and ebooks looks very interesting but the big problem is that of the most popular Clickbank products, the vast majority is crap one want to stay away from.
We must say that the plan they present in a video and an ebbok is really interesting and we recommend you to sign up free to read it but don’t buy any of their crappy products. When you are active on their site you quicly earn a substantial balance of virtual $$, you can use in many ways within their planed activity. You can for instance build a huge prospect list or sell your own products. Our balance of 7,000+ virtual $$ could help us build a huge list. Go and check this out just to see an interesting twist of online markeing, weather it’s scam or brilliant marketing.
We will stay a little while with Virtapay to see if we can pick the goodies out of the cake and avoid being involved in their crappy Clickbank products.