Nelo Life has announced a near identical clone of the TranzactCard “Z-Bucks” disaster.

TranzactCard launched in 2023 and was an effective reboot of Richard Smith’s collapsed R Network scheme.

At the center of Tranzact Card you had Z-Bucks, which had an internal $1 value and were earned 1:1 per dollar spent on a branded VISA card.

Z-Bucks were spendable at ZClub, an internal TranzactCard ecommerce platform.

Earlier this month, Nelo Life revealed its own VISA card and “Nelos”:

As above, the first one thousand Nelo Life cards sold will cost $199, after which you’re looking at $399.

The only difference I can see between Nelo Life’s card and TranzactCard’s cards is Nelo Life has set the Nelo exchange rate to 2:1 (i.e. spend $2 to receive 1 Nelo).

There also appears to be a literal cashback when personally recruited Nelo Life promoters use the card:

Nelo Life’s marketplace name hasn’t been revealed, but the first promo above states “no nelos are required” until February 2026. Apparently all products within Nelo Life’s internal ecommerce platform are “at their lowest member price” till then.

Which is a bit confusing. If Nelo Life’s card is already purchasable and functional, and Nelos are being tracked – what’s the problem? Why can’t Nelo Life promoters use their Nelos until next year?

Also is the “lowest price” currently offered what Nelo Life promoters will be able to use their Nelos toward next year? Is the platform operating as a regular ecommerce platform accepting regular money till February 2026 (as the advertising suggests)?

This almost seems as messy as TranzactCard’s launch, which was plagued by delays until the scheme collapsed in February 2024.

A FinMore reboot was announced the next day, going on to collapse in April 2024. Nelo Life was announced after TranzactCard collapsed and was cited as the primary reason for FinMore’s collapse.

Three of Nelo Life’s original co-founders were TranzactCard promoters:

Today only Nick Sorensen and Eric Allen feature on Nelo Life’s website. Larry Lane popped up promoting LevAI a few months ago.

Public disclosure of Nelo Life’s fourth co-founder, Orkan Arat, has been messy since launch. It’s unclear whether Arat is still involved in Nelo Life.

In June 2024 BehindMLM documented Nelo Life’s launch of LifeElevated, a fraudulent trading scheme set up in partnership with serial scammer Ed Zimbardi.

Today there’s no mention of Life Elevated on Nelo Life’s website.

Also unclear is whether Richard Smith has anything to do with Nelo Life’s new card offering. Smith disappeared as TranzactCard collapsed and hasn’t publicly had anything to do with MLM industry since.

I haven’t seen anything indicating Smith is involved in Nelo Life’s new card offering, but it is pretty much a clone of what he’s been trying to get off the ground since R Network.

Will halving the Nelo earn rate from 1:1 to 2:1 see Nelo Life succeed where TranzactCard and FinMore didn’t? Stay tuned I guess.

TranzactCard promoters were promised steeply discounted products from brands like Nike and New Balance. Instead the majority of products listed were no name crap nobody wanted.

Details of Nelo Life’s ecommerce platform remain non-public at time of publication.