Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

7/26/2007
09:00 AM
Connect Directly
Twitter
RSS
E-Mail
50%
50%

Startup to Take on PayPal

Pmints could go where PayPal won't, including porn and gambling

A secure electronic payments startup plans to challenge PayPal, but with a twist: It permits transactions for online pornography and gambling, which PayPal does not.

Pmints, which was founded by a graduate student at the University of Virginia's Darden Graduate School of Business Administration, will officially launch its payment services this fall. It's currently beta-testing the payment service.

It plans to peg a demographic of Internet users aged 21 to 35, about 68 million of whom bought adult goods online last year, according to published reports. Pmints will also handle gambling payments outside the U.S., although the practice is illegal here.

Unfortunately for Pmints, the stigma attached to sex and gambling has already backfired on the startup effort. UVA this week cut Pmints out of its business incubator program, which provides startups with office space, stipends, faculty access, and legal support.

That apparently didn't rattle Rafael Diaz-Tushman, founder and CEO of the company, however. "It's not going to affect the company," he said in an interview with The Daily Progress in Charlottesville, Va. "Things are going well."

Diaz-Tushman said in published interviews that he decided to get his MBA and start up his own payment service after PayPal froze his own account. The payment arm of eBay had discovered that his former movie and gaming rental site business included adult DVDs. He says there's big money in the adult industry, and that Pmints will fill that void.

Diaz-Tushman had not responded to requests for an interview at the time this article was posted.

— Kelly Jackson Higgins, Senior Editor, Dark Reading

  • PayPal Kelly Jackson Higgins is the Executive Editor of Dark Reading. She is an award-winning veteran technology and business journalist with more than two decades of experience in reporting and editing for various publications, including Network Computing, Secure Enterprise ... View Full Bio

    Comment  | 
    Print  | 
    More Insights
  • Comments
    Newest First  |  Oldest First  |  Threaded View
    When It Comes To Security Tools, More Isn't More
    Lamont Orange, Chief Information Security Officer at Netskope,  1/11/2021
    US Capitol Attack a Wake-up Call for the Integration of Physical & IT Security
    Seth Rosenblatt, Contributing Writer,  1/11/2021
    IoT Vendor Ubiquiti Suffers Data Breach
    Dark Reading Staff 1/11/2021
    Register for Dark Reading Newsletters
    White Papers
    Video
    Cartoon
    Current Issue
    2020: The Year in Security
    Download this Tech Digest for a look at the biggest security stories that - so far - have shaped a very strange and stressful year.
    Flash Poll
    Assessing Cybersecurity Risk in Today's Enterprises
    Assessing Cybersecurity Risk in Today's Enterprises
    COVID-19 has created a new IT paradigm in the enterprise -- and a new level of cybersecurity risk. This report offers a look at how enterprises are assessing and managing cyber-risk under the new normal.
    Twitter Feed
    Dark Reading - Bug Report
    Bug Report
    Enterprise Vulnerabilities
    From DHS/US-CERT's National Vulnerability Database
    CVE-2020-15864
    PUBLISHED: 2021-01-17
    An issue was discovered in Quali CloudShell 9.3. An XSS vulnerability in the login page allows an attacker to craft a URL, with a constructor.constructor substring in the username field, that executes a payload when the user visits the /Account/Login page.
    CVE-2021-3113
    PUBLISHED: 2021-01-17
    Netsia SEBA+ through 0.16.1 build 70-e669dcd7 allows remote attackers to discover session cookies via a direct /session/list/allActiveSession request. For example, the attacker can discover the admin's cookie if the admin account happens to be logged in when the allActiveSession request occurs, and ...
    CVE-2020-25533
    PUBLISHED: 2021-01-15
    An issue was discovered in Malwarebytes before 4.0 on macOS. A malicious application was able to perform a privileged action within the Malwarebytes launch daemon. The privileged service improperly validated XPC connections by relying on the PID instead of the audit token. An attacker can construct ...
    CVE-2021-3162
    PUBLISHED: 2021-01-15
    Docker Desktop Community before 2.5.0.0 on macOS mishandles certificate checking, leading to local privilege escalation.
    CVE-2021-21242
    PUBLISHED: 2021-01-15
    OneDev is an all-in-one devops platform. In OneDev before version 4.0.3, there is a critical vulnerability which can lead to pre-auth remote code execution. AttachmentUploadServlet deserializes untrusted data from the `Attachment-Support` header. This Servlet does not enforce any authentication or a...