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Originally Posted by Shoplifter
Ibill could do a lot to minimize the damage if they would help clients who are facing sizeable losses. I've seen a few programs for sale and a lot of operators simply wiped out due to this.
They should be offering to give up rebill databases freely and helping to place clients with new processors if that's what is required. If they adopted a "We can earn your business back once it's fixed" attitude it would go very very far in alleviating this customer service meltdown.
I've done a lot of business with them and I am sincerely hoping that they can pull it together. I feel they are in a difficult spot with those who hold all the power at the banks and it may be insurmountable. I don't blame them for what's happened, but the way it's been dealt with and the wall of silence presented to their clients is not positive.
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That is, tho not *actually* criminal, one of the most damning things about this scenario - that iBill can cause many others much damage. But suppose that is the risk of trading and where good judgement comes into play in not allowing any one company to hold substantial rebills. The third party processing biz have already proven they cannot be trusted to this level - they are not banks and have no controlling or oversight body.
BTW.. Your comments about the "power at the banks" and "I don't blame them.." ....
It appears banks just don't trust the principals involved with iBill - one woman I spoke with who is an director of a merchant bank said outright that she would not dream of dealing with them and called the CMI stuff "Crap!" :-)
Also, a judge when presented with the background declared, "all of iBill's problems are of their own making". That, together with some other info/docs, leave me in no doubt that is the case and deserve nada consideration in any area.