YNOT EUROPE – “Lack of revenue and circumstances beyond our control” have forced the permanent closure of online payment processor ePassporte, according to a statement the company posted in the protected account-management part of its website.

The statement also indicates representatives in the company’s sales, marketing and risk-management departments have been dismissed, but customers whose electronic wallets contain funds will be instructed how to obtain the money “in the near future.”

“We expect this will be a simplified process, and as we receive the necessary information, our small remaining staff will process requests as quickly as they can,” the statement notes. “Please direct your wallet questions, concerns and requests to walletrequest@ePassporte.com.

“For those of you with funds on your Visa accounts, we are informed that St. Kitts Bank is working on a plan to provide everyone with full access to their funds through their Visa Electron cards or by bank wire transfers and will inform you accordingly.”

ePassporte shut its doors one month after Visa International suspended the company’s merchant privileges and froze all virtual Visa funds on ePassporte-branded cards. At the time, ePassorte President Chris Mallick said Visa’s action was aimed at the company’s banking partner, St. Kitts Nevis Anguilla National Bank.

The bank immediately also froze the funds in ePassporte customers’ e-wallets, but restored access to some accounts Oct. 6.

The ePassporte notice provided no specifics about what “circumstances beyond our control” contributed to the company’s demise.

“We appreciate your support for the ePassporte program over the past 7 [stet] years and deeply regret we must close our doors at this difficult time,” the notice concluded.