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Chris Mallick · 08-26-2002, 02:26 PM

Calm the f*** down everyone?.

And leave KK alone. She?s out of processing and in the money end of the business now and probably damn glad too!

Clay is too busy to post, so he asked me to reply and answer serious questions.

The question seems to be: What is sub-merchant registration?

The short answer is: A new Visa International rule (that means worldwide, all Visa regions) effective November 2002, requiring Payment Service Providers (PSP?s) like Epoch, iBill, CCBill, Jettis, WebSiteBilling, etc to provide to their acquiring bank and to Visa the names of all the url?s we process transactions for - through our Merchant Account. The list will also contain company names and the names of the owners of the company?s.

Yes, Big Brother is watching, even closer now. But this is not bad news, all around. Epoch, for example, has been doing this for over a year. If you are with us, you are cool. I don?t know about the other processors, but presumably the same will apply.

If, however, you are on the Death Penalty List or the chargebacks and credits of your business are partly responsible for putting a PSP over the chargeback and credit ratios of Visa, then you may be toast. If you have been TMF?d in your own Merchant Account, depending on your PSP, you may or may not be able to process credit card transactions in the future. Some, not all, PSP?s may have the ability to rehab problem sub-merchants.

All the talk earlier on this thread about how chargebacks are going to skyrocket, etc because of our ?X? minute trials? is just funny. Think people? We have to maintain the ratios. If we don?t we are toast. So why would we do anything to jeopardize our Merchant Account? Trust me Mitch? high volume accounts are not laying around. Low volume accounts will be all but gone in November if the other rules are enforced, like the $100 million in Tier 1 Capital requirement. That rule alone knocks out 97% of all banks on the planet. The obvious ?players? in accepting Merchant?s in the high-risk categories are not up for this reporting either. So, in my humble opinion, folks better get with a processor, stay there and hope that the processor can run a smooth technical operation and report accurately, every time to Visa ? from this day forward.

No, the sky is not falling ? for everyone - but it is for some.

I will stay around to answer other questions, if I can, for a while this afternoon.

Chris Mallick
EPOCH

08-26-2002, 02:26 PM
Chris Mallick Confirmed User Join Date: Jan 2002 Location: Marina del Rey, CA, USA Posts: 679	Calm the f*** down everyone?. And leave KK alone. She?s out of processing and in the money end of the business now and probably damn glad too! Clay is too busy to post, so he asked me to reply and answer serious questions. The question seems to be: What is sub-merchant registration? The short answer is: A new Visa International rule (that means worldwide, all Visa regions) effective November 2002, requiring Payment Service Providers (PSP?s) like Epoch, iBill, CCBill, Jettis, WebSiteBilling, etc to provide to their acquiring bank and to Visa the names of all the url?s we process transactions for - through our Merchant Account. The list will also contain company names and the names of the owners of the company?s. Yes, Big Brother is watching, even closer now. But this is not bad news, all around. Epoch, for example, has been doing this for over a year. If you are with us, you are cool. I don?t know about the other processors, but presumably the same will apply. If, however, you are on the Death Penalty List or the chargebacks and credits of your business are partly responsible for putting a PSP over the chargeback and credit ratios of Visa, then you may be toast. If you have been TMF?d in your own Merchant Account, depending on your PSP, you may or may not be able to process credit card transactions in the future. Some, not all, PSP?s may have the ability to rehab problem sub-merchants. All the talk earlier on this thread about how chargebacks are going to skyrocket, etc because of our ?X? minute trials? is just funny. Think people? We have to maintain the ratios. If we don?t we are toast. So why would we do anything to jeopardize our Merchant Account? Trust me Mitch? high volume accounts are not laying around. Low volume accounts will be all but gone in November if the other rules are enforced, like the $100 million in Tier 1 Capital requirement. That rule alone knocks out 97% of all banks on the planet. The obvious ?players? in accepting Merchant?s in the high-risk categories are not up for this reporting either. So, in my humble opinion, folks better get with a processor, stay there and hope that the processor can run a smooth technical operation and report accurately, every time to Visa ? from this day forward. No, the sky is not falling ? for everyone - but it is for some. I will stay around to answer other questions, if I can, for a while this afternoon. Chris Mallick EPOCH __________________ Chris Mallick [email protected]