Originally Posted by mrjoost

Hey guys,

There was no advance notice because in this case MasterCard didn't want
to give us notice - the accounts were just too small. Most of them were
processing less than US$ 10 a week.

If we would give notice, MasterCard would still bill us for these unused
accounts. Of course we tried to mitigate in this but we have to play with
the rules and regulations of MasterCard Corporation.

Comment on Ron Bennett's remark about warning signs: as mentioned
in my previous posting MasterCard will impose new registration rules
and procedures for submerchants and webmasters that are currently
connected to IPSPs and Payment Institutes like ourselves.

Their request is to gain more transparancy - and to receive more income.

We are currently in a lenghtly negotiation process but to repeat myself:

"Quick note on fees is that the entire industry will undergo some
dramatic changes in the next 6 months when MasterCard will make
it mandatory for all MasterCards acceptants, including all webmasters,
to register their identification and websites. This will effect all
IPSPs including our competitors, but also IPSPs like Paypal.
With such registration MasterCard will impose a fee."

For any of these coming changes we know we can give enough notice.
And everyone can compare notes with the competitors since these
changes will affect everyone.

Kind regards,



Joost Zuurbier
Verotel Merchant Services BV
CEO