Quote:
Originally posted by mrbling
Brown,
Thats the key
Merchant account -
Requirement: Need to be a us company
3rd party new policy-
Requirement: Need to be a us company
SO IS THERE ANY NEED FOR 3rd PARTIES ANYMORE?????
There is something RAND/RON/CHRIS not telling you guys and its 3rd parties are WORTHLESS now with the new policies.
I'm not against them or anything, but I feel like they are not telling you guys this very very important fact.
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CCBill Epoch Ibill have you really thought of the consequences? Have we thought of the consequences?? Playing by the rules set fouth by the card associations that govern wether or not we can process transactions on your behealf? Or trying to skirt the system and avoid them for a limited time period...? Yes, we have considered this, have the others?
SO IS THERE ANY NEED FOR 3rd PARTIES ANYMORE?????
Only if you want to continue to process transactions in the adult space. Funny not once has someone mentioned the FACT that it cost $1000.00+ to be registered as a high risk merchant with your own merchant account, that is if you can find an acquiring bank willing to take the risk.
Anyone know what the ratios on Mastercard are for chargebacks? Better yet anyone know the initial fine if you exceed? The ratio is 1%, that is 1 ot of 100 transactions, the best part is the fine, 1st moth 25K plus $25.00 per chargeback.
Now if you are a merchant doing less than 50K per month do you really think a financial institution is going to be willing to underwrite this account?
If you can't pay the fines they do, their risk dept. does not risk 3-5K per moth in revenue for this type of volume and associated fines.
So what as to the questiom? Do you still need third party billers or are they worthless..I think you can answer this yourself without enen having to go throuh all the processes imvolved in dupporting a high risk transctions.
A lot goes on behind the scenes to see that we can continue to accept transactions on behalf of our clients.
Clay
EPOCH