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AdultX · 11-10-2006, 11:53 AM

Ok, I am not sure if anyone has found out this info and posted this yet or not but I just spoke to Norton from Paymonde and here is his explanation for everything:

The reason I was calling was because a new site that was added by one of my clients was still waiting approval and I was trying to see what the hold up was, since I had one approved fine a few days back with no problem.

They are not approving any new sites now due to there status. As you know the bank they were using lost their MasterCard merchant. What he also told me now is they are not sure about the Visa he said it may be fine or they may lose it any day now, that is why they will not approved any new accounts.

The problem is the Visa merchant is coming from the same bank that lost the MasterCard Merchant and the bank will not update them on their Visa status.

So they are not sure of the future of the company, they were trying to sell me off on my own merchant account, but I would have to pay $1500 to set up an EU corporation.

I asked about the owed money and what is happening, they said they were trying to pay everyone on time and normal, but they are trying to negotiate with the bank to release the other funds (i guess they mean the reserves) (sounds like what was said with IBILL). So I brought up the IBILL situation (Which they are very familiar with) and asked if this is the same thing that is going to happen with the bank holding the reserves, and he again just told me they are working to have the funds released.

I just wanted to let everyone know what I was told, as of the other day my account and my 5 clients accounts have been working fine (minus the MasterCard) and have not had any missed payments.

So now I would consider getting a backup plan for anyone only using them, as they are not sure about the status of their Visa, they told me everything may be fine but they wanted to warn me now that they may lose it and that is why they will not approve any new accounts.

Hope this helps, I will update if I hear any new info.

11-10-2006, 11:53 AM
AdultX Confirmed User Join Date: Jun 2003 Location: South Florida Posts: 689	** Important Paymonde Update ** Ok, I am not sure if anyone has found out this info and posted this yet or not but I just spoke to Norton from Paymonde and here is his explanation for everything: The reason I was calling was because a new site that was added by one of my clients was still waiting approval and I was trying to see what the hold up was, since I had one approved fine a few days back with no problem. They are not approving any new sites now due to there status. As you know the bank they were using lost their MasterCard merchant. What he also told me now is they are not sure about the Visa he said it may be fine or they may lose it any day now, that is why they will not approved any new accounts. The problem is the Visa merchant is coming from the same bank that lost the MasterCard Merchant and the bank will not update them on their Visa status. So they are not sure of the future of the company, they were trying to sell me off on my own merchant account, but I would have to pay $1500 to set up an EU corporation. I asked about the owed money and what is happening, they said they were trying to pay everyone on time and normal, but they are trying to negotiate with the bank to release the other funds (i guess they mean the reserves) (sounds like what was said with IBILL). So I brought up the IBILL situation (Which they are very familiar with) and asked if this is the same thing that is going to happen with the bank holding the reserves, and he again just told me they are working to have the funds released. I just wanted to let everyone know what I was told, as of the other day my account and my 5 clients accounts have been working fine (minus the MasterCard) and have not had any missed payments. So now I would consider getting a backup plan for anyone only using them, as they are not sure about the status of their Visa, they told me everything may be fine but they wanted to warn me now that they may lose it and that is why they will not approve any new accounts. Hope this helps, I will update if I hear any new info. __________________ VisualXcitement.com - Adult Web, Graphic, & Print Design AdultXModels.com - the Premier Talent Site For the Adult Industry TheFetishGrid.com - the Ultimate Fetish Ad Portal