Is Yourfastpay A MLM Or Pyramid Scheme?

facebooktwittergoogle_pluspinterestmail

yourfastpay logoYourFastPay Review


Name: YourFastPay
Website:  yourfastpay.com

Created:  8/3/2014
Price: $20/monthly affiliate fee + investment ranging from $250 to $8190*

*Affiliate membership with YourFastPay is tied to investment in one of the following five packs:

  • Beginner – $250

  • Challenger – $1230

  • Intermediate – $2390

  • Advanced – $3690

  • Expert – $8190

Owners:  According to the website, Ly Chou-Meng is CEO and based in London; however, the site is registered under Mehrshad Pezeshk (2/10/15) with an address in Tehran.  Yourfastpay.com claims to be present in Europe, South America, USA, Asia and Russia.

Overall Rank: 5 out of 100

 

YourFastPay Product Overview


YourFastPay claims to be a MLM; however, they have no retailable products or services, with affiliates only able to market YourFastPay affiliate membership itself.  Once signed up, YourFastPay affiliates are able to invest in packs and participate in the YourFastPay “MLM” income opportunity. Affilitates earn points through selling packs to new affiliates.

YourFastPay has lots of info on their site about Bitcoins.  But, it’s really not clear how they are used or why the info is provided.  At first glance, it would appear that affiliates sell bitcoins or that they get paid with bitcoins.  However, it’s never really spelled out in a clear enough way to understand.    A Bitcoin is a form of digital currency, created and held electronically.

 

The Good & the Bad

scales

    Cons                                             Pros


The Good:

  • Not listed as a suspicious site & safe for browsing (not enough data to determine)

  • If YourFastPay were actually a legit company, with a product to sell, affiliates could potentially make decent returns on their investment.

The Bad:

  • The website has been newly registered with a short life expectancy, which follows the pattern used by many fraudulent and fake selling websites.

  • Large investment up front, plus $20 monthly affiliate fee

  • YourFastPay is connected to several different countries, which is a red flag

  • Not http secure, according to the trust rating from Scamanalyze.com

  • The website has a SEO score of 0% – red flag

  • According to Scamadvisor the site has a 365 day life expectancy – red flag

  • With no actual product to sell and affiliates only focusing on adding recruits, it would appear that YourFastPay is a pyramid scheme operating as a MLM

  • Little to no social media activity – red flag

  • Faulty call to action button – when I clicked the “register” button, it took be back to the home page – just another red flag

  • Confusing commission payout

  • no training

  • no support, other than an e-mail.  They even say to call if you have questions, but no phone number is given.

 

Who is YourFastPay For?

sucker


Yourfastpay is for anyone willing to take a risk on making enough to cover their initial investment, let alone any other income.  If you’re willing to take the risk, I suggest that you have some experience working with multi-level marketing programs (don’t be a sucker).

 

YourFastPay Training


There is no mention of training for affiliates, other than the explanation of how the system works (which is not real clear).

 

YourFastPay Support


The only form of support I found on the website is an e-mail button at the bottom of the page, support@yourfastpay.com.

 

YourFastPay Compensation Plan


Compensation is divided into 3 categories:  Bonus Direct Sales, Bonus Binary and Bonus Monthly.

Direct Sales

Affiliates are paid 10% on the following packs:

  • Beginner – $250

  • Challenger – $1230

  • Intermediate – $2390

  • Advanced – $3690

  • Expert – $8190

Bonus Binary-affiliates must qualify with:

  • 1 sale on each side

  • These two sales do not give points to the sponsor

yourfastpay bonus binary

Commission:  40% of the accumulation of the leg that pays (I don’t get what that means either)

Bonus Monthly-affiliates must qualify with:

  • 2 sales on each side

  • 1 direct sale

Bonus commission is 10% of your recruit’s monthly fee ($2 per recruit)

 

My Final Opinion of YourFastPay


It would appear that, with no specific product to market or sell and affiliates only focusing on adding new recruits, that Yourfastpay is a pyramid scheme operating as a multi-level marketing program.

A MLM (multi-level marketing) programs are promoted through Internet advertising, company websites, social media, presentations, group meetings, conference calls, and brochures. In an MLM program, you typically get paid for products or services that you and the distributors in your “downline” (your recruits and their recruits) sell to others.

However, some MLM programs are actually pyramid schemes, a type of fraud in which participants profit almost exclusively through recruiting other people to participate in the program.  Pyramid schemes masquerading as MLM programs often violate the federal securities laws, such as laws prohibiting fraud and requiring the registration of securities offerings and broker-dealers.

This notice pops up at sign in of the website (this can’t be good):  

“DEAR MEMBERS

Please send your ewallet information with you id member and the mining value to this email miningpay@gmail.com

The mining payment should be done the 20th. As you know we stopped to work with Virtualpay and we don’t have any payment platform at the moment.

We are working on and hope we can start the payment ASAP it means after the festive days between 15 and 20 of January

Please don’t send us Paypal account, we can’t open a paypal account because they don’t accept Marketing companies and less Bitcoin companies

We want to advice you also that only the mining commissions will be paid, it means only the values from the product.
Apologize for the delay and we thank you for your understanding, we update you faster as we can

THANK YOU”

 

YourFastPay at a Glance…


Name: YourFastPay

Website: yourfastpay.com

Owners: According to the website, Ly Chou-Meng is CEO and based in London; however, the site is registered under Mehrshad Pezeshk (2/10/15) with an address in Tehran.  Yourfastpay.com claims to be present in Europe, South America, USA, Asia and Russia.

Price: $20/monthly affiliate fee + investment ranging from $250 to $8190
Overall Scam Rank: 5 out of 100

Verdict: NOT LEGIT…or, at the very best, please tread with caution

 

Wait…No Need To Go Away Empty Handed!

Odds are if you found your way to this review, you’re looking for a legitimate way to earn money online.  Am I right? Speaking as a member, I can recommend the best way I’ve found to earn and learn how to make money online through the Wealthy Affiliate program.  Absolutely everything you need to start, create, and grow a successful business online is included at Wealthy Affiliate.  For more info, see My Wealthy Affiliate Review!

 

Please post any question or concerns you may have in the space below.  If you’ve had any previous experience with Yourfastpay, I’d love to hear from you!

signature

 


 

 

facebooktwittergoogle_plusyoutube