Quote:
Originally posted by AC Cory
[B]The $750 goes to the bank; the $350 is to ensure webmaster seriousness.
We have processors all over the world including the US and are fully compliant. We would never risk AC with AC Pay; I assure you of that.
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Boy, here we go again, since now I am even more confused.
Have you been settling US transactions for ACPay clients without registering them in the US? That seems to be what you are implying and I just don't see how that could be possible.
I could understand if you are setting outside the US and therefore didn't feel the need to be compliant with the US, so are you now adding to your portfolio the option of US settlement for US clients?
If so, then I am not understanding how you can 'waive' the $750 fee for site owners that have already paid it elsewhere, since it's my understanding that EACH processor has to collect and remit to their own banks, regardless of other processors the client may be registered with previously. So will your US clients be properly registered with Visa if they do not remit the fee to you?
I'm trying to get my head around all this so I can have a clear and proper understanding of what is going on here and while I hate to keep after you with questions, I do want to understand how this process is working.
The other issue at stake here for site owners is the fact that they are not allowed to acquire in multiple regions for the same web site. So if they are using Ibill for a primary, for instance, and ACPay for backup, do you guarantee that they are being settled in the US, and do you accept the liability of potential Visa sanctions on these clients if it were to turn out that they were in violation of a basic tenet of Visa's, and were to incur any financial or punitive damage from Visa's actions as a result of their improper acquisition and settlement of payments to their sites?