Quote:
Originally posted by netbilling
Hi All,
The merchant sub-registration and registration fees have been a long time coming as well as the 3rd party processor reporting and monitoring. Visa and Mastercard are trying to level the playing field and make anyone accepting their cards have a relationship with them directly (through an acquiring bank). This is why we have never done third party processing and do not intend to.
Our merchants already have that relationship established and have paid the registration fees. Visa will be first to step up and Mastercard shortly thereafter. The two always follow each other closely. I brought this up about 6 months ago as well.
Chris Mallick,
No disrepect meant here, but...
Remember, we all get our merchant accounts from the same banks. There are certainly not banks laying around but you guys ALWAYS make it sound harder than it actually is. We have been around since 98 and doing quite well as you know. Something tells me that merchants actually can get merchant accounts and hold on to them with the right company and tools.
If not, I would not be here posting, would I?
I have a great relationship with your partners, xpartners, and 99% of the clan from all of the billing companies. However, you need to give credit where it is due occassionally, my friend.
Kimmykim,
Since you no longer work for a processor, go talk about content or something that you actually know about. Don't spout wrong information half of the time and then say "I no longer work for a processor" when you don't know the answers. Maybe you can spend your incredible energy starting you own company instead of working for someone else and bouncing from job to job.
Mitch
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Mitch? I have just got to answer this point by point. Sorry folk for the long post about to come?
You don?t do 3rd Party because you either (a) can?t find a bank with the capacity, or (b) don?t have the financials to step up and assume the risk. On top of that, you have to have a HUGE infrastructure, not just a shop for brokering accounts and providing some ?gateway? functions.
The registration fee is a high-risk registration fee that has been around for years. The fee we have been discussing for days now is the NEW Sub Merchant Registration. It is for PSP's only, so you don't have to worry about that in your model.
Fuck disrespect... I do not "know" that we all get our Merchant Accounts from the same banks. As a matter of fact, I ?know? that we don?t. And as for the degree of difficulty, I don?t think there is any secret that there are fewer and fewer banks willing or able to give these accounts. I know you don?t ever miss an opportunity to market your services under the thinly veiled guise of ?being informative?, but don?t bullshit people. Yes, there are Merchant Accounts for high risk, but no, there are none with serious volume capacity and that will be around past November of any size. As a matter of fact, come November, maybe October, some of the obvious places will stop writing accounts and start pushing them to PSP?s. Bad for you? good for me. As for giving ?credit where credit is due?? I don?t see where any is due.
I also read KK?s post below yours. Good job KK. I agree with her, 150%. If I could ?bounce? the way she has, shit? bounce me! She is a program operator with CC processing expertise. That is a great combination, imo.
Chris
CEO
EPOCH