Business Opportunities - GreenZap

ProgramCritique.com Review:

GreenZap.com is a new website created in April 2005 by Alex Sonmin. GreenZap declares itself an alternative to PayPal. You can use GreenZap to pay for goods on the eBay and Yahoo Auctions sites.

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Greenzap.com pays every new subscriber 25-dollar bonus for signing up. The bonus is in the form of “webcash”. It is a credit that you can convert later, with the traders listed on the site. If you upgrade to a “Gold” account, you are entitled to $100 ‘Web cash”. This again to be spent only online.

Target is one of the companies listed on the site. Surprisingly, Target says that they have no such contract and will not accept the “webcash” money. In fact, it seems there are no takers. “Web cash" cannot be encashed into cash. Assuming you do make a purchase with the seller will have to dispense with it by finding someone else who accepts it. Therefore, there is no gain for anyone.

Another fishy thing about the company is the address given. They claim that their main office is in the foyer area of 4445 Eastgate Mall La Jolla, CA 92121. Despite being an incorporated firm, no information is available.

Investigation has revealed that Greenzap is operating out of a mailbox located in a grocery shop. The investment capital of the company is 25,000 dollars.

Ironically, the same companies listed on the site have denied any sort of arrangements with Greenzap about purchases on “webcash”. Talks are that that Google may soon be starting an online payments system.

No one is branding Greenzap as a fraud. However, attractive concept of gaining a few dollars on signing up, it is better to forego it, rather than blow up your money. Because these dollars come only in shapes and sizes of “webcash”, a currency no one is familiar.

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