Quote:
Originally Posted by NewNick
Now they are dying because they did not have enough margin to get through a sticky patch and you are saying that processors with a higher margin (and a viable business plan) are thieves ?
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I'm one of many who believe they are dying because they took people's money from Zombaio and invested it into opening RedPass.
When they opened Redpass that was the exact time that they suddenly raised their rates, starting holding money back in "reserves" and started the first bit of not paying on time.
If they had stuck to being a billing processor, their rates were fine.
Get your own merchant account and you won't even pay that much.
But taking money that wasn't really theirs to invest in a new business was the downfall. Not lower rates.