GreenZap

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Greenzap's Official Logo

GreenZap (Pink Sheets: GZPN) is an online buying and spending account service that competes with PayPal. GreenZap launched on April 2, 2005 and allows members to send and receive money online, through their email address. The ultimate beneficial owner of GreenZap is reported to be Damon Westmoreland, who was reportedly associated with ThePayline.com,^[1] a widespread Internet financial pyramid.^[2] Another report states that the ownership of GreenZap is unclear because the company has not registered to do business in California, where its mailing address is located in a postal box within a grocery store, and because the company's official phone number is a mobile phone. ^[3]

1 Ownership
2 Controversy
3 Lawsuit by GreenZap
4 References
5 External links

[edit] Ownership

In September 2005, GZ announced a reverse merger with Pink Sheets quoted NPW Development in order to go public, later changing their symbol to GZPN.

[edit] Controversy

One of the issues involves GreenZap having at one time marketed a $25 sign-up bonus without clearly specifying that the "$25" was not USD but "WebCash". Also, Greenzap advertised itself as a competitor to PayPal when at that time GreenZap could not be used on any auction sites as a means to purchase. This was not made clear on their website. The company does not have a satisfactory rating with the San Diego Better Business Bureau stemming from multiple customer complaints. No known criminal charges have been brought against GreenZap and they are still operating. GreenZap has identified itself as a Multi-level marketing company.