They will be using a bank in Antigua, to issue the Virtual Visa cards. The bank is Global Bank Of Commerce Ltd, website :
http://www.globalbank.ag
It actualy is the same bank IKOBO is using to issue their electron card and process their cc's from their customers.
What ibill wants is that they will treat the card loads as cash advances, way difficult to chargeback....also if members complain, ibill will credit back their Virtual card, bypassing most of the visa system. This method is called "on-us".
The advantages are that they can actualy issue thousends of virtual cards and run them on their merchant, to ballance the VISA chargeback ratio !
It's about the same trick Paycom does with epassporte in the back end, but they call it Gift Card and they give it away for free. It's just to increase transaction volume with good (no chargeback cards) so the chargeback ratio will look good in the end...