iBill - Only The Facts Please!

[HardProfits]

I have had some time to think about this situation with iBill, and a little bit of clarity is coming to my head. Essentially I broke it down like this:

The facts/rumors I have heard so far are
1) iBill laid of 40 people
2) iBill is expecting some large fines from Visa and MasterCard

I have heard many other facts/rumors, but other than these tow listed, I haven?t heard anything that affects iBill operational capacity directly

So what do these two facts mean?

Well if I was InterCept, and I had been sold a probable lemon, I would do these things:

1) Lay off excess staff and reduce all/any costs possible to prepare for any future fines so as not to trade insolently. If I was a board member of InterCept, I wouldn?t want iBill to trade in-solvently under any circumstances, particularly after seeing the share price of InterCept go down the toilet.

2) Lay off any staff suspected of "possible" actions not in the best interests of the company

3) Immediately terminate any accounts that have been operated in a way, which would cause such fines to take place

So what else should be considered at this stage?

Well I have tried to think of what should we think could happen from here, and came up with these thoughts:

1. If iBill got hit with huge Visa and MasterCard fines, and it couldn?t out of existing funds meet those commitments, it would have these options (as I see it so far):

- Option 1) InterCept would have to bail iBill out from its own funds
- Option 2) iBill would be placed into bankruptcy, with all debts being quashed and all monies owed to webmasters being held back (including all reserves) and then being allowed to trade on without the webmasters who caused the blow out in chargebacks in the first place
- Option 3) InterCept closes iBill, and hopefully gives webmasters the opportunity to retain the databases (wishful thinking on this option).
- Option 4) Sell iBill back to the previous shareholders/management soon, or during bankruptcy, which I hope doesn?t happen for only one reason, and that is that I would prefer to see the InterCept war chest behind iBill

2. If iBill does suffer the same fate as DMR, I suggest to everyone here that the ripple effect on our industry will be massive. Visa and MasterCard (USA or International) could say that this event proves adult billing is too difficult. Also, all the surfers who have used iBill will feel ill at ease with on-line banking in our sector, and webmasters (like myself who use iBill) will feel a measure of pain that will cripple many peoples ability to contribute ?for example? to areas such on-line and off line advertising

3. Visa and MasterCard are going to make sure that iBill doesn?t allow dodgy billing practices to continue, and from my side I say Hooray

4. IBill please advise us what is happening ? soon

5. And to all the Nay Sayers out there I say this ? ?If you don?t use iBill, what is your purpose of posting a negative reply to my comments in this thread other than to be a bastard??
6. We need to make sure that iBill stays strong and effective for the sake of many people?s livelihoods, and for the sake of our industry

7. To the staff at iBill who lost your jobs, I say thank you for your contributions and good luck in your futures

8. I will continue to support iBill, and recommend every one else to ?consider? doing the same. If we all pull the plug on iBill, then guess what, iBill will die

I now ask you to post any ?facts? you have about this situation

Daniel

[psyko514]

Fact: IBill sucks.

[FATPad]

Why did you call the thread "Only the facts" and then post a bunch of rumors, guesses, theories and predictions?

[HardProfits]

BTW - iBill has paid me every time on time, and my rebills look great

And FatPad - I am asking for more facts

And psyko514 - your an idiot

[jact]

Originally posted by psyko514
Fact: IBill sucks.

I have to agree.

iBill

[psyko514]

Originally posted by HardProfits
And psyko514 - your an idiot

It's nice to see sponsors who respect their affiliates.

[p00p]

Originally posted by HardProfits
BTW - iBill has paid me every time on time, and my rebills look great

And FatPad - I am asking for more facts

And psyko514 - your an idiot

We are still getting ibill rebills, and none of the checks are bouncing. They still owe us for 1-900 signups. We haven't used them for ages, though. But the checks are coming, and they are good, albeit they are smaller and smaller as the rebills drop. Of late, nothing abnormal. Our big hit was last fall when we were getting tons of reclines a day.

[jact]

Originally posted by HardProfits
BTW - iBill has paid me every time on time, and my rebills look great

And FatPad - I am asking for more facts

And psyko514 - your an idiot

Why's he an idiot for speaking his opinion in a thread full of opinions? Really?

iBill has fucked many of us, myself included. Even when I was using them for processing they continually fucked me around. My list of complaints with their managers was absolutely huge and grew steadily with every passing interaction with their company.

If iBill is in trouble and facing bankrupsty, it's the fault of the management and the lack of training that their staff recieved. iBill CS was far from acceptable, hell, I'd even have settled for shotty at best. It was a far cry from shotty.

Some people, like yourself may have had no problems with them, but you're the very small minority, not the majority. Perhaps we'd all be better off when they go under.

[HardProfits]

Originally posted by jact


Why's he an idiot for speaking his opinion in a thread full of opinions? Really?

iBill has fucked many of us, myself included. Even when I was using them for processing they continually fucked me around. My list of complaints with their managers was absolutely huge and grew steadily with every passing interaction with their company.

If iBill is in trouble and facing bankrupsty, it's the fault of the management and the lack of training that their staff recieved. iBill CS was far from acceptable, hell, I'd even have settled for shotty at best. It was a far cry from shotty.

Some people, like yourself may have had no problems with them, but you're the very small minority, not the majority. Perhaps we'd all be better off when they go under.

I dont want to continue discussing psyko514 comments as it is irrelavent to the discussion, and I shouldnt have commented back either

I agree with you, iBill has fucked many of us many time. But no one here could say that as an industry we are better off without iBill. C'mon, if you think that then we are really really in trouble as an industry

Also, how long has InterCept (the new owners) had to get the ship in order? Give them time guys, its new managment

[Unleash_Hell]

Hey HardProfits, a little of topic (but this is gfy afterall), I am in Australia and when I try and join one of your sites it says, "it is illegal to join this site from your country" (or words to the effect). Is this a software glitch or are you really precluding Australian surfers?

[NetRodent]

Just posting "iBill sucks" doesn't contribute much. Explaining in specific terms what happened to make you reach the conclusion that iBill sucks would be useful.

[FATPad]

Originally posted by HardProfits


I dont want to continue discussing psyko514 comments as it is irrelavent to the discussion, and I shouldnt have commented back either

I agree with you, iBill has fucked many of us many time. But no one here could say that as an industry we are better off without iBill. C'mon, if you think that then we are really really in trouble as an industry

Also, how long has InterCept (the new owners) had to get the ship in order? Give them time guys, its new managment

If you think ibill is good for the industry you should use them.

Hasn't Intercept had almost a year to do something with Ibill?

If you're happy, use them. If enough people are unhappy and leave, Ibill will die. That's the way business works.

[psyko514]

They're firing employees left and right. Account reps that are still there are ignoring emails from their clients. They respond to threads with canned responses. Their cheques are bouncing. They're cancelling rebills without notice.

Sure, they may have been an industry leader, but times change. New management is not an excuse for poor customer service.

Originally posted by HardProfits


I dont want to continue discussing psyko514 comments as it is irrelavent to the discussion, and I shouldnt have commented back either

I agree with you, iBill has fucked many of us many time. But no one here could say that as an industry we are better off without iBill. C'mon, if you think that then we are really really in trouble as an industry

Also, how long has InterCept (the new owners) had to get the ship in order? Give them time guys, its new managment

[HardProfits]

Originally posted by FATPad
If you think ibill is good for the industry you should use them.

Hasn't Intercept had almost a year to do something with Ibill?

If you're happy, use them. If enough people are unhappy and leave, Ibill will die. That's the way business works.

maybe intercept has been there a year, but they have only had effective control for a short time

[stocktrader23]

Originally posted by HardProfits


maybe intercept has been there a year, but they have only had effective control for a short time

No offense but.......

<img src="http://www.bodyfuck.com/clue.jpg">

[p00p]

Originally posted by stocktrader23


No offense but.......

<img src="http://www.bodyfuck.com/clue.jpg">

God bless...so true.

[HardProfits]

[goBigtime]

FACT: Nobody launched a new class action lawsuit against Ibill/Intercept in the past 2 days

Really all those class-action lawsuits spook me. If it was one or two it would be one thing.. but the fact that there are TEN seperate suits... man. Bad. Makes me think that this is going to be easy money for the attorneys and thats why so many are jumping on board with their own suit.

Though I don't know shit about legal stuff. Maybe it wont be too bad for Intercept?

[El Mega]

Rumor has it...

... it is true that they let quite a few of their employees go.
Most notably starting with their CEO a few weeks ago.
That was probably their best move since canning their crappy pin coding system.

I already know of a few employees that actually made a day to day difference in that place that got pink slipped.
And there still remains some typical corporate middle management, mostly form MCI's corrupted pool of fuck ups, who hopefully are just being kept around to do the rest of the lay offs, and being booted shortly as well.

I feel bad for the actual people that got fired/laid off/terminated/, that actually made a daily difference there.
.
Perfect timing for jobs in today?s job market.
Good Luck.

iBill absolutely changed many aspects of this industry.
No denying that.
I know a few young webmasters that cashed their first ibill checks (before they capitalized the B) with relatives, because they were too young to have bank accounts, but are know deca-millionaires.

So I can understand the emotional attachment.
I can also understand attachment to rebills and data that you have a good chance of loosing, as that affects many peoples lively hoods.

But Fuck iBill!


I?ve had my fair share of their incompetence since the their x CEO and his entourage of sttoges started ruining the company.

As already mentioned,?.that?s business.
We?ve seen this happen to companies that were built on an even stronger foundation of management and resources.

Besides, there's already many other forces driving our industry into tougher and tougher times, not just a decaying processor.

So enough with the whining and crocodile tears.


But an incident such as iBill, decomposing....
Leaves lots of fertilizer for an ecommerce industry...

Just think, somewhere in the world, there?s a server being booted atop a shabby wood desk, which just might be the next "leader in processing."


As always...

[andi_germany]

Fact: IBill still owes me 8000 bucks they decline to pay me.

[HardProfits]

Originally posted by andi_germany
Fact: IBill still owes me 8000 bucks they decline to pay me.

Do you own paysites, or are you an affiliate?

And if you own paysites, are they registered in US or EU?

[Resolute]

Ibill has always paid us On time - Every time. Sure they have their challenges, many of which you gentlemen have already referred to in your responses here.

Its the devil you know !

I suggest all of us that have business with Ibill get behind them to insure we protect our interests. If Ibill ceases to exist we loose bucks we have all worked hard for and it will shake considerably the confidence of the industry both webmasters and consumers.

Resolute
www.boybucks.net

[HardProfits]

Originally posted by Resolute
Ibill has always paid us On time - Every time. Sure they have their challenges, many of which you gentlemen have already referred to in your responses here.

Its the devil you know !

I suggest all of us that have business with Ibill get behind them to insure we protect our interests. If Ibill ceases to exist we loose bucks we have all worked hard for and it will shake considerably the confidence of the industry both webmasters and consumers.

Resolute
www.boybucks.net

This ones for you Resolute

**************************

Just got off the phone with my Rep at iBill

I gave him a list of rumors I have heard, and he killed off every one of them one by one

I look in my CMI, and all I see is good sales and rebills (as I always have)

I get paid on time every time (except for that web900 money from last year.... hhmmm...), and it seems to me as business as usual

As many of you know, I am an Aussie. And Aussies always stand by their mates.

iBill is a mate of mine
CCBill is a mate of mine
2000Charge is a mate of mine

I stand by my mates, and I know that iBill is AOK

So take notice... To the people who are crapping on iBill with BS rumors -

[vegasdude]

Originally posted by HardProfits


This ones for you Resolute

**************************

Just got off the phone with my Rep at iBill

I gave him a list of rumors I have heard, and he killed off every one of them one by one

I look in my CMI, and all I see is good sales and rebills (as I always have)

I get paid on time every time (except for that web900 money from last year.... hhmmm...), and it seems to me as business as usual

As many of you know, I am an Aussie. And Aussies always stand by their mates.

iBill is a mate of mine
CCBill is a mate of mine
2000Charge is a mate of mine

I stand by my mates, and I know that iBill is AOK

So take notice... To the people who are crapping on iBill with BS rumors -

lol

[Resolute]

Have just spoken to one of the senior exects at Ibill and my rep.
I have been dealing with this guy for the past 4 years and he has never jazzed me !

He has dispelled all the rumors and my worries/insecurities

Ibill will always attract all the loonies jumping onto the bandwagon that have always had a gripe with them at a time like this. Kick them when they are down mentality.

I Do Not believe Ibill is down . They will continue to enjoy my unreserved support. I strongly suggest other webmasters do the same, to insure their investment, in Ibill.

Resolute
www.boybucks.net

[chupacabra]

iBill is a gangsta..

[_mC_]

Originally posted by e l m e g a h
... it is true that they let quite a few of their employees go.
Most notably starting with their CEO a few weeks ago.
That was probably their best move since canning their crappy pin coding system.

"crappy pin coding system" ?? I take offense to that statement, ya bastard!
mC