Quote:
Originally posted by scoreman
The good news on this is that iBill will be able to run domestic Visa rebills with this system. That should mean that USA webmasters can be paid something soon. Having a solution to bill Visa for USA webmasters also means that iBill has better chances of getting short term funding. No one would lend them money since they were not even able to complete a Visa transaction, and even with this system in place it remains to be seen whether they still will be unable to get short term funding. It would appear that without some sort of funding to make up for the 8 figure amount held by First Data, iBill will continue to have to play that game of paying clients with the most current billing receipts. It doesnt take a rocket scientist to figure out that what is owed is far more than what they are now billing since so many clients have bailed out, so without some sort of cash injection getting caught up will be difficult.
The bad news I see with this is that Visa will be less than thrilled to see iBill back dooring the Visa transactions. iBill would respond of course that this is all legitimate and not against the rules, but at the end of the day Visa went through great efforts to establish parameters on how adult transactions are handled in the United States and iBill is playing near the outer boundaries of the rules rather than squarely within. That cant make Visa USA all warm and fuzzy when they think of iBill, which in turn cannot be seen as anything but a bad thing.
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Scoreman
I could not have said it more perfectly myself, and we all know what happens when big brother is less than thrilled.
Ron Cadwell
CEO
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