Quote:
Originally posted by Jayson
As I have stated before, agregators like CCbill/Ibill et al were illegal under Visa scheme rules. I had assumed since they had been doing it for so long that Visa USA was cool with it but I know from first hand experience that aggregators are not tollerated in Australia by Visa.
It seems like this newish rule classifies them as an IPSP and legitimises their role, but takes away the protection of individual accounts being able to hide from being terminated. So these new rules are actually good for the third party billers as it removes the risk of visa getting totally pissed and just yanking their facilities.
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Third party processing in its present form is essentially money laundering...Im surprised Justice DEPT hasnt enforced RICO statutes to date.