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Originally Posted by debsdeepthroat
Where did you get those numbers from?
It never said that
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This is in IBILL Merchant INFO:
"Visa reserves are calculated at 60.87% of the total reserve amount collected by iBill. The 60.87% is based on our Visa transaction volume over the three-month period prior to September 2004. (Please note that First Data did not hold reserve funds specifically related to MasterCard transactions)."
I said 61% to round it off
"Note Payable
In addition to the successful implementation of the above, under IBD's direction, iBill has committed to fund the balance of the payments owed to clients in the form of a Note. The combined programs will provide significant and immediate cash payouts together with a long-term financial commitment by the company. The form of the Note Payable is below. Each Note Payable is guaranteed by iBill and will be redeemable for cash plus 3% interest in four equal installments payable on each six (6) month anniversary of issuance. After you ACCEPT the terms on the Merchant Info page, a signed note for the settlement amount will be mailed to you. Participation in the plan will be cutoff after April 14, 2005. iBill may choose to defer the issuance of the Note Payable for those clients who are currently on Do Not Pay status, or who have a credit balance."
"promises to pay on or before March 29, 2007,"
Here is the 3% and the 6month payments
This is all from IBILL