Originally Posted by NewOldPlayer

Money released from Redpass. Current. Unbelievable, but yes, current.

I think they are making a slow but steady come back.

Originally Posted by RegUser

So where is the statement
And
More importantly, where is my money?

Originally Posted by ShowMe69

The statement is coming just like your money, the standard answer "Tomorrow"

Originally Posted by wslover317

Its October 2nd. Everyone has all of their money and we are all caught up. No?
(Sarcasm)

Originally Posted by H-Tom

They should send one on Monday. We will see how it goes.

Originally Posted by jdubs1982

This is going to be long and rambling, but I was talking to a friend who has a ton of experience with online payment processing who talked to Tomas yesterday and was just explaining to me what his gut feeling about everything is.

I have no real inside information my friend Is actually probably why the message yesterday was sent, because he was getting on Tomas about the lack of transparency and the lack of follow up after the email from earlier this summer claiming things would be "fixed" within a month...and just the overall shity way they handle things.

From support tickets to the whole when there are delays in payouts there not being any sort of "pro active" alert when there are problems. And according to him he said Tomas agreed that they'd handled things poorly and that he realizes that they o need to be more open and honest about whats going on when something goes wrong, but that there was a fear at least last spring that if they did come out and fully explain the problems they were having that people would bail and they'd go under simply because of merchants running away but he said Tomas said he would start addressing issues more head on (and followed up with the message that everyone else got).

My friend said he doesn't have any inside info on what if any changers are coming. So I don't really have any new facts to add, but my buddy has been involved with web based businesses for a while now, got my foot in the door with alot of things. So I trust his gut and this is the "short" version (its going to be long and rambling, but I'm passing along what I consider an "informed educated guess" as to what is going on) of what he says his gut tells him about Zombaio.

He says he doesn't think they are thieves which is good, but he says he thinks there's alot of "learning as they go" which is not an ideal situation for them to be "learning" while messing around with everyone's money.

He says the feel he's gotten from various chat session and email excahnges with the people around the company is Zombaio pays in batches, two maybe three times a week. "Payout cleared" is not "we've received your money and are sending it to you, its a "this payment has been assigned to a batch for payout" when the batch is paid out depends on when they have the money to pay it out. (He also said Tomas mentioned that once everything is settled and payouts are normalized, that he does agree they need to turn their attention to improving the front end reporting of payouts)

But he said his feeling is the way things have been is Zombaio uses a bunch of smaller, banks to deal with processing. (they probably have shit credit, and takes whatever deals they can get) some of these can't settle to the US for example, which means US accounts are routed through a handful of other banks, some of their banks can't accept payments from certain places so those are settled to who knows where and all the while each bank is taking a processing cut, you have salaries for Michael O, Jesper, David, Tomas.. you likely have Samport and whoever taking their cut (more than likely they or somebody provided start up money, and while it sucks, does mean they technically are a creditor and Zombaio does or at least did have to pay them). And at the end of the food chain are the merchants, when there's enough money received to settle a batch of payouts they settle and we get paid.

When you ask Michael O where are x,y,z payments, more then likely he can see what batch its assigned to and what day that's scheduled to go out and that's what info he gives you. The problem with that is if there's been too many bites taken out of the money pie, they simply don't have the money to settle a payout batch.. so that batch rolls over and even though you were told the money would be sent Tuesday, it isn't.

Which all sounds horrible, and sounds like a company that has no way out because even if they get a infusion of cash now its like paying off a credit card with another credit card. But what my friend says his guess is they've secured a deal that covers the three things they need not to go under and what "restructuring" refers to.. and that's a partner with a little more knowledge/organizational know how than the current group, cash, and more important a banking deal.

The cash clearly is needed to allow them to catch up and get out from under all the past problems, organization because they honestly don't seem to know whats coming in vs whats going out which is why support is basically worthless 99% of the time. And a better banking deal will hopefully allow them to cut out some of the middle man BS. (They're more than likely basically laundering money through various 3rd parties in order to be able to serve as many countries as they do).

He said if he had to guess, processing rates likely won't go up, but he wouldn't be surprised if settlement dates are pushed back to 30 days or something like that instead of 20 (which I mean I think everyone would be fine with since now 20 = 60+ days), reserve % may increase - because larger banks may want to see larger reserves in order to do business with them. And he said, if he was in charge he would probably eliminate weekly payouts, and possibly even bi-weekly payouts at least temporarily to eliminate the fees they have to pay every time they payout, and to make record keeping easier until they get better organized and a payment flow.

Again I don't have any inside information, simply relaying an educated guess from a friend who I trust and I know he talked to Tomas yesterday about everything (he told me before the message was sent yesterday that a message was likely incoming regarding everything) --- it could be 100% wrong he said Tomas didn't tell him the new terms, didn't tell him what the restructuring consistent of and Zombaio could be thieves or the "restructuring" could fail and they could still end up belly up. But in his opinion the effort to make sure everyone gets paid is genuine, and that if they do actually have "more favorable terms", as the message sent yesterday said, from their banking partners things could get much better pretty soon.

Originally Posted by ShowMe69

I guess the restructuring is happening like peoples payment, tomorrow, tomorrow...amazing how nobody has done a write up on these clowns and what they did and are doing? 2 Month payouts really???

Originally Posted by NaughtyNerdy

Not so patiently awaiting myself.

Pointing out however they didn't say they'd PAY on Oct 1. They said catch ups are STARTING from Oct 1:

"coming into effect starting from 1st October"

Originally Posted by lagcam

You are right.

Funny thing is that chief shit stirrer Showme69 wouldn't know if they were starting to catch up payments or they were not because

[a] his account was cancelled for illegal content so he doesn't get communications
[b] he is not owed money by them so he has nothing to be paid out

The only way this self appointed "champion of the people", gets updates on what is happening is when a webmaster who should know better posts a personal message from his processor.

Other than that he is in the dark and just repeating the same old tired shit as part of a "revenge" campaign against a company that closed him down.

Any webmaster that is owed money and wants to be paid it should know by now that mob complaining doesn't help.

Originally Posted by ShowMe69

Mob complaining works better than silently getting fucked

Originally Posted by NaughtyNerdy

Not so patiently awaiting myself.

Pointing out however they didn't say they'd PAY on Oct 1. They said catch ups are STARTING from Oct 1:

"coming into effect starting from 1st October"

Originally Posted by ShowMe69

They also said they would reveal new terms of business before then, which hasn't happened

Originally Posted by H-Tom

It will happen in the next few days.

Originally Posted by ShowMe69

H-Tom, you got some inside info you wanna share

Originally Posted by ShowMe69

H-Tom, you got some inside info you wanna share

Originally Posted by lagcam

Only idiots share information with idiots so my guess is no.

Don't worry man(?), I am sure there will be an idiot along shortly to fill you in.

Originally Posted by Peter-Porn

Look what i got today from them...WTF

-----------
(strong)This is a private communication from Zombaio to existing merchants and is not intended for any other audience.(/strong)

Zombaio will be under new ownership from 1st November 2014 and as a result of this, certain operational changes will come into effect from this date.

There will be no need for any technical changes at the merchants? end as all present API functionality will be kept, but there may be other changes to the way your account operates depending upon whether you are deemed to be an ?active? merchant or an ?inactive? merchant.

To be considered an active merchant as at 1st November, you must

[a] send new sales during October 2014 AND
[b] have Zombaio listed as a primary biller - either first in a cascade or as an equal choice amongst other billers that the customer can select (without any premium in price or other encouragement to do otherwise).

Those that do not will automatically become ?inactive?. This does not mean that your accounts will be suspended or cancelled but does mean that they may be subject to an additional markup on processing rate of not exceeding 5%.

It is necessary for us to make this distinction between active and non active merchants so that we are able to better support full service merchants and at the same time mitigate the additional risks of processing transactions from merchants that do not have us first in a cascade and/or are only processing rebills.

There will be no increase in rates for active merchants.

(strong)Transactions processed from 1st November(/strong)

We know that our interim terms while we were working on these changes were not the best, but we are pleased to say that we are now able to improve them. From 1st November all merchants can benefit from:

[a] Weekly settlement
[b] Reduced hold back reserve of 5%
[c] On time settlement via ACH, Wire, Check and Redpass**

** Transfers to Redpass will be ontime, but the Redpass load to card issue has not yet been fully resolved and delays may still occur. Additional similar third party payment systems will be added shortly.


The processing week will run from Monday to Sunday.

The first processing period under the new system (ending Sunday 2nd November) will be just 2 days with first settlement issued November 24th, and then weekly thereafter.

(strong)Transactions processed prior to 1st November and any historic amounts owing(/strong)

In the majority of cases, transactions processed up to and including 31st October will be settled in accordance with the present terms of business, however, as funds from the sale transaction will be released to us in stages, some accounts will be paid before others with priority being given to accounts sending new sales.

We understand that this is not ideal, but we believe it is the best way for us to ensure that everybody will be paid what they are owed and ongoing business will be settled timely. As a goodwill gesture, anybody not paid up to date by the end of November, will have interest added to the debt at the rate set by Swedish law until such time as the settlement has been made.

New agreements and more detailed information will be issued in due course, but if you have any questions about anything mentioned here then please contact your account manager or support.
-----------------

Originally Posted by ShowMe69

I like how they didn't want the email out for public consumption , no sense in letting potential customers know, we are still 'fucking over" what's left of our existing clients

Originally Posted by signupdamnit

Of course it's so they can harass the people posting the message and threaten to sue them. It's the typical asshole move.

Originally Posted by xXXtesy10

all you fucked in ass

Originally Posted by lagcam

I presume it is marked for existing Zombaio merchants because that is who it is intended for. I really don't see it being of any concern to anybody that is not a Zombaio merchant.

I know that won't stop those with no dog in the fight and nothing better to do from continuing to run their mouths off but as somebody who is owed money by Zombaio, I am happy that they are taking steps in the right direction and not just giving up, closing shop and saying "yeah you guys are right, we are thieves, your money is gone, sorry".

Originally Posted by Peter-Porn

Any news?

Originally Posted by andi00

I recived pament so i think all will be good, they are in buissines.

Then again this thread is spammed with those who don't have account with zombaio , they wrote 200 post on this tread (ShowMe69) he predicted months ago they will "close and steal money" but it didn't happen and it won't.

Originally Posted by andi00

I recived pament so i think all will be good, they are in buissines.

Then again this thread is spammed with those who don't have account with zombaio , they wrote 200 post on this tread (ShowMe69) he predicted months ago they will "close and steal money" but it didn't happen and it won't.

Originally Posted by andi00

I recived pament so i think all will be good, they are in buissines.

Then again this thread is spammed with those who don't have account with zombaio , they wrote 200 post on this tread (ShowMe69) he predicted months ago they will "close and steal money" but it didn't happen and it won't.

Originally Posted by Peter-Porn

Hell yeah, i got one payment to, looking forward for the others..

Originally Posted by ShowMe69

The historic payout begins....lol

Originally Posted by ShowMe69

The statement is coming just like your money, the standard answer "Tomorrow"