Payment processor iPayout today disabled ewallet services for TelexFree, rendering affiliate accounts inaccessible. Affiliates attempting to log in now see a message confirming the merchant services have been pulled. The company's subdomain on iPayout's GlobaleWallet server also redirects to a custom 404 error.
TelexFree affiliates attempting to access their funds through iPayout's platform are met with a direct notification. This message states that iPayout has "disabled" the merchant services it provided to TelexFree.
This action mirrors events from the 2013 shutdown of Zeek Rewards. When the SEC moved to close Zeek Rewards, its payment processor NxPay similarly disabled services by freezing company funds.
The immediate impact leaves TelexFree affiliates without access to their ewallet balances.