ACPay/EGSPay out of busines

can you please post the body of this email/notification for all of us here..?

Dear Webmaster:

We apologize for our silence over the last few days. As we have stated, our bank has refused to continue processing for 3rd party billing companies due to pressure from Visa/Mastercard, which as many of you know has affected a number of other companies. In recent weeks we have attempted to sell, or transfer the business to another processing company. While at the end of last week we were very close to a deal, the buyer decided to pull out after further review, an examination of industry message boards, and difficulties with their merchant banking relationships. We have been working very hard and have explored every possible option. However, given the current business climate with regard to 3rd party processors, their standing with Visa/Mastercard and the virtually complete unavailability of merchant banking options, this exploration has not been fruitful. With regret, we have decided to discontinue AC Pay / EGS Pay.

In order to ease the transition of your accounts to other processors, we will do the following:

1. We will continue to process existing rebills and pay out commissions on those rebills for the life of the membership. Commission payments scheduled to go out this Wednesday will go out as usual.

2. All new transactions that have been placed in pending status (none of which have been processed) since July 9, 2003 will be transferred, upon your request, to your new processor.

3. We will continue accepting new transactions from your sites and queuing them as pending until August 11, 2003. These transactions will not be processed but will be available to be transferred to your new processor.

4. We have contacted some 3rd party processors who will be able to assist you with new account setup. We will continue to contact other processors, in the mean time you may contact:

- CCBill: (processes US and European transactions)
Contact: Swapna
Office Phone:480-449-7750 x-161
Email: [email protected]
ICQ: 116035871

- 2000charge (processes Non-Us transactions)
Phone: 626-585-1814
Email: [email protected]

- Paycom.net (processes US transactions)
Contact: Jeff Southworth
Phone: 888-627-3888
Email: [email protected]

5. To initiate the transfer, please have your processor contact us at [email protected] with your Client ID and any data requirements.

We deeply regret the disruption this has caused in your business, and we will do everything we can to ensure that the transition to a new processor goes smoothly.

Sincerely,
Tim Umbreit

got it as well...

This is making me very nervous now.. there dropping like flys.

Todays job is to look for a new processor - mine is fine know but I think we all should have a back up to jump to at a moments notice, at least that way we can still take new sign ups.

Well at least they didn't process upto the last minute and take all the cash and run. The benifits of dealing with a professional upstanding company like Adultcheck.

The only thing guarnateed in life and business is change.

Always prepare for and expect the worst.

my thoughts exactly!

Thats probably the best peice of advice ive heard since starting at this - still fucking scary though.

After 20 years of entrepreneuring I assure you the challenges never stop no matter how much money you make.

Its just more zero's, but the same BS constantly.