Quote:
Originally posted by wevegotmale
I can totally undersatand your frustration to your dilema. After all it is your  and iBill should have been better prepared for their clients in Canada.
Please, don't think that I am a bleeding heart to the current state of affairs as it pertains to iBill. I have done my research on the iBill situation. So everthing that I am writing is my opinion based on what I have found out about the iBill situation.
All the trouble started when the powers at Visa decided that IPSP's would need to follow a certain criteria if they wanted to process cards carrying the Visa logo. (You know, the $750.00 fee, and all of that bullshit!) Even though some processors have decided to ignore Visa's warnings (scared to lose their current clients) by not implying the fee, iBill, being the largest IPSP in the world, decided that they would need to follow these new regulations as 80-85% of all card holders are Visa. They could not afford to have this happen to their current business model.
Because there was a rush from their clients to register for the Visa fee, many, tried to find loop holes to avoid paying the fee. Many of the clients that opted to incorporate in Europe did not truly research their descision before incorporating there and as a result, many are finding that their descion to avoid the fee is alot more expensive than the fee it's self.
My suggestion, based on research, is to incorporate in the US. (Yes the fee would apply). Since the US and Canada share borders, many of the banking rules serve reciprocity, this would be the most expediant way to get paid.
Adult web owners have to stick together and the only way to do this is to follow the rules, as I am sure this is not the end. There are other payment cards out there and who is to say that they will not do the same thing that Visa has done. The rules are changing and no one is exempt.
Whether or not Visa wants to admit it because it is polically incorrect, there is a market for adult sites, and these sites do provide a valuable service. I would like to know how many of the executives spend time on their computers, away from the wives, kids, girlfriends, and fiance's choking their chicken after hours and on the weekends.
So let's stop blaming the processor and place blame where it really is. After all our customers earned their credit from Visa and should be able to use that credit anyhwere at anytime.
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What a load of shit. Ibill created their own damn problems and THEY need to fix them.
And about the visa charge. Ibill is suffering more than others for several reasons. An example that comes to mind is this.
Ibill figured in their cut of the $750 fee into their earnings estimates. They must have assumed everyone would pay this. When they announced the fee many of their clients left Ibill. Now, they not only lost revenue from the customers that left but also lost their "projected" revenue from their piece of the Visa fee. This made their earnings go to shit and on the announcement their stock value took a swan dive. Ibill handled this like a bunch of idiots. If I made millions from my clients I definately wouldn't make them pay more than Visa is receiving on the fee and I would have covered it for any account that was making me money.
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