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"MasterCard has notified Wachovia Bank, iBill?s acquiring bank for
MasterCard transactions, that it has acquired transactions from merchants
without the required merchant agreements. As a result of this noncompliance,
MasterCard has stated that it will impose assessments on Wachovia Bank in the
amount of $2,500 per day, retroactive to the day that the first noncompliant
transaction was acquired by Wachovia Bank through iBill. "
Did you take a look at their charts? I pity the employees that have options there.
There is certainly something up, and it looks like Ibill just can't afford to lose it's clients.
I wonder if Ibill has determined that it is better to take their chances with fines than lose the revenues from foreign webmasters.
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