Originally Posted by **********
Hello,
We at 2Much do not use Paymonde as our main payment processor, but we have met the gang from Paymonde many times, and I think it would be safe to say that no one is more upset about what is going on than they are.
I do not pretend to know the complexities involved in running a payment service such as Paymonde, but I'm sure it would be a safe bet to say that it is tough. Besides the incredible accounting (not to mention the headache of chargebacks and pressure this must bring), I am sure that they are in daily battles with Visa and Mastercard to conform to every single rule and policy change that they make.
So what happened? Did Mastercard cut Paymonde off? Did Paymonde go tits-up and close their doors for good? Who knows? In my opinion, the bashing that Paymonde is taking here so early in this situation is uncalled for. You don't know what has happened yet in reality, so anyone outside of Paymonde that has anything to say at this time is unqualified to do so. One thing that can be said is that all of you who have done business with Paymonde have probably also met them in person, shook their hands, and partied with them at trade shows. Good guys, right?. For those of you who know Howard and Norton, do you REALLY think that they would have purposely ripped you or anyone else off? Come on..
About 3 years ago, 2Much did lots of business with Probilling. One day, VISA disappeared as an option for customers, followed by Mastercard about a week later. Then on a Friday night they made the big announcement that they were dropping credit cards altogether and switching to e-checking, leaving us to scramble to find another billing company. Even worse due to some policy I failed to read or understand, they could not payout what they owed to us at that time. Fortunately, we had sufficient funds in the bank to payout our models and affilaite sites and continue business as normal until we found another processor, so the impact was not life threatening.
I was MAD but I wasn't furious, and I certainly didn't lash-out at Probilling and accuse them of being thieves the way some of you are doing here. Fortunately we already had another payment processor (CCBill) in place, and switching over to them was simple. I took care of my business to make sure we could continue to bill, and make sure I could continue to pay my people.
I didn't understand at the time what was going on, but eventually I found out, and surprise! Probilling paid us, and all was good.
My point is this. If you don't know the full story yet, don't lash out at Howard and Norton. If your business is suddenly jeopardized due to Paymonde, stop wasting time bitching and start looking for another billing company and take care of your business. Give Paymonde some time to fix whatever has gone wrong, and maybe everything will work out and you'll get paid. Don't party with the Paymonde crew as friends and then trash them here without at least hearing what they've got to say.
GOOD LUCK PAYMONDE!
Mark Prince, CEO
2Much Internet Services Inc
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