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Shoplifter, ibill told me they are required to pay the US company you operate as.
From their registration form
Merchant Name: This is the legal name of your company. All of your websites/URLs will be associated with this name. This name will also serve as your pay to for all future payouts
I called and they confirmed that they will be paying only to the Merchant Name. Which means not only a company is required but also a bank account and paying taxes etc.
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