Jane-Busty.pl

First Data progress continues to move forward. iBill and First Data attorneys are currently working through the settlement offer. The initial settlement will consist of approximately 1 week of processing in addition to Visa reserves. We expect the settlement offer to be completed and executed very soon. Payout will take place via ACH or Wire only. We have already built out the web interface to allow clients to log in and verify their banking details and payout amount.


EU Payout
iBill will be moving forward with a segregated payout model. Under this model, ECB/ICC will be funding an account managed by 3rd party trustee Inteca. Monies will no longer be managed by iBill. This segregated payout will ensure all payouts occur on time and in full.

EU payout for past monies owed is expected to begin early next week. The payout will take place over several payout dates with the expectation to be completely caught up by month?s end, reserves included. This will allow iBill to begin paying out on the segregated payout beginning on the 3/5 check date.

US Payout
Check Date 2/15 for gkard transactions is expected to go out on time as scheduled. We will be communicating shortly on past due payments for check dates 1/1, 1/15, 2/1. The expectation is to have these payouts caught up by month?s end. We are currently working with our Board of Directors to confirm this information.

We are also moving towards setting up a segregated payout for US payouts as well. This segregated payout would be managed by a 3rd party trustee. Monies would no longer flow through or be managed by iBill. This segregated payout will ensure all payouts occur on time and in full.

Revshare Payout
We continue to work on ways to determine the most appropriate means to settling revshare obligations. More information to follow shortly.

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