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-   -   Ibill Loses European Visas (https://gfy.com/showthread.php?t=134402)

goBigtime 05-16-2003 12:06 PM

Quote:

Originally posted by corvett
Gobigtime, our Chief Operating Officer wants to know whether the name of that game is ?Mission Impossible? or ?Impossible Mission?

Nostalgia

http://www.pcgameplay.co.uk/Specials...%20Mission.jpg

:1orglaugh

YEah its Impossible Mission from Epic for the commodore 64.

Was a good game :thumbsup

skeet 05-16-2003 12:14 PM

Epic did JumpMan for the c-64 as well? That was another fun one.

Gyruss came along and I thought to myself who needs more then 64k ;)

xxxice 05-16-2003 12:15 PM

Is this for real? So all European rebills will be gone ? :feels-hot

skeet 05-16-2003 12:23 PM

They have lost nothing yet....

Everything is as normal as it gets over there. If you guys are lucky they will really fuck up and run the EU rebills through the US account.

Then it would be on like donkey kong.

Sit tight... Things always work out at iBill. They have 9 lives.

DatingGold 05-16-2003 12:35 PM

Quote:

Originally posted by shap
Hi Guys. Was reading the Intercept quarterly report and saw some real interesting stuff.

The one thing that may interest some of you here is the following:


"Additionally, we are not able to acquire transactions on behalf of foreign sponsored merchants, unless the transaction is from an acquirer within the sponsored merchant's region. We have established relationships with a foreign bank to serve as iBill's acquiring bank. If we fail to comply with the new Visa rule, Visa may fine our acquiring bank, which will in turn seek indemnification from us. We were notified on Wednesday, May 14, 2003 that our acquiring bank plans to suspend our Visa account on Friday, May 16, allegedly due to our failure to comply with applicable Visa rules. We believe we are in compliance with those Visa rules. This action, if it occurs, will effectively terminate our ability to process Visa transactions in Europe. Those transactions contribute approximately 4-6% of our aggregate merchant processing revenues. We have urged representatives of the bank to withdraw this threat. Although we intend to pursue all available legal remedies for this action, we cannot as a practical matter replace the acquiring bank in this time frame, and we could lose a majority, if not all, of the revenues from our Visa transactions in Europe if the bank follows through with its threatened action. "


Here's the url where i got it from
http://biz.yahoo.com/e/030515/icpt10-q.html

Does this mean if you are a european Ibill client you will not be able to process with Ibill?

nevermind 05-16-2003 12:48 PM

Quote:

Originally posted by tony404



Epassporte is scary,they want a guarantee (if they are collecting the fees for my site they should have the money for their fees)and they want your bank info(the answer I got on this one ,we want it because in the future we maybe adding a function.Why cant you ask for it when you have the function instead of my bank info sitting god knows where).

I understood most of your post but what do you mean about "guarantee."

Shoplifter 05-16-2003 12:49 PM

Quote:

Originally posted by DatingGold


Does this mean if you are a european Ibill client you will not be able to process with Ibill?


That's the gist of it as far as I can see. If you are an Ibill USA client you should not lose any transactions. This is about where your company is, not where your clients are.

It may be a moot point in any event, my Ibill SU average has fallen so much since the CVV2 intro that it is now on a par with my backup processor.

tony286 05-16-2003 12:58 PM

Quote:

Originally posted by nevermind


I understood most of your post but what do you mean about "guarantee."


This is what they wrote to me " The guarantee is basically saying that you will be responsible for anything that is or might be owed to us for services rendered." That makes you personally responsible, I dont understand the need for this if they get the money first. I have guaranteed things before but the companies were in the US, which made me more comfortable and had been around for a while.

Lensman 05-16-2003 01:01 PM

I believe this means that if that European bank flakes out on Ibill, then the European webmasters will not be able to process. I think US-based webmasters will still be able to process EU customer transactions as they are settled by US Banks.

In other words, Ibill's U.S. clients will not be affected. Correct me if I'm wrong.

m0rph3us 05-16-2003 01:09 PM

Quote:

Originally posted by Lensman
I believe this means that if that European bank flakes out on Ibill, then the European webmasters will not be able to process. I think US-based webmasters will still be able to process EU customer transactions as they are settled by US Banks.

In other words, Ibill's U.S. clients will not be affected. Correct me if I'm wrong.

you're right. It's the EU MERCHANTS that are affected not the customers.

Shoplifter 05-17-2003 11:10 AM

So what happened? Are we still in business?

What about Monday's payout?

Not getting any news from my rep.

quiet 05-17-2003 11:12 AM

no fucking idea. my 'premium support' rep has been unavailable for the past 3 days.

still processing signups...

quiet 05-17-2003 05:50 PM

more interesting reading from that report:

Quote:

In March 2002, MasterCard implemented a rule that requires all banks that submit transactions on behalf of a merchant to have a valid merchant agreement with that merchant. This rule applies whether the card is presented directly to the merchant or to a third-party payment facilitator, such as iBill. MasterCard has determined that iBill?s role as a third-party payment faciliator does not properly present iBill as the merchant. As a result, MasterCard has notified iBill?s former and current acquiring banks for MasterCard transactions that iBill has acquired transactions from merchants without the required merchant agreements. Because of this determination, MasterCard has stated that it will impose assessments on the acquiring banks of $2,500 per day, retroactive to the day that the first noncompliant transaction was acquired through iBill. The total amount of this fine through May 10, 2003 is approximately $630,000, which is recorded in the financial statements. iBill has paid $452,500 to date and anticipates that the acquiring banks will seek indemnification for the remaining amount. MasterCard has also requested that iBill and its acquiring bank submit a plan for compliance with this rule and provide a listing of all merchants selling goods and services through iBill and the URLs associated with those merchants. Although iBill has submitted the required plan to MasterCard, the failure to submit the plan or the submission of a plan that does not meet MasterCard?s requirements will result in additional fines and could result in the inability of iBill to process MasterCard transactions.

Shoplifter 05-17-2003 06:27 PM

So Mastercard is fining them for factoring.

I thought the whole point of the IPSP meltdown last October was so that third parties could charge without issue. Is it only Visa that has the new IPSP regs allowing third party?

BJ 05-17-2003 06:31 PM

there are underlying issues very few know about... its not about fines....lol

ONS 05-17-2003 08:41 PM

When this bomb drops it will be the end so better jump over to Epoch or CCbill while you can! :thumbsup

Kimmykim 05-18-2003 12:13 AM

Visa has been very specific about cross border aquisitions and what their policies are regarding it. Basically it boils down to one word :DONT.

That is about as easy to figure out as to predict that Mitch will be spamming in any thread about another processor having issues...

tony404, I am also sorry that you do not seem to grasp that ePassporte functions as a financial services provider, not unlike any other method you use to legitimately collect or disburse funds on the internet or in a physical medium.
As to your statements regarding ownership and people not admitting to things, you are mistaken. This has been discussed pretty much to death in recent weeks and if you either didn't see the thread or have some sort of reading comprehension problems then I do apologize to you but I am not repeating myself yet again in this thread. Perhaps you do not realize that you have also personally guaranteed any accounts with any of the IPSPs that you do business with, you've given Paypal your SSN if you agreed to their new terms of service for business accounts a month or so ago -- something that is way more intrusive than a bank account number.

Furthermore, to fund a commercial or Commerce account, you MUST do so with a wire transfer -- which would absolutely mean that accounting would have to know who's account was what. Or perhaps you expect them to simply divine who should get what credited to their account through the use of a Magic 8 Ball or a Ouija board???

silent 05-19-2003 08:36 AM

Any news from iBill??

silent 05-19-2003 08:53 AM

From CMI:
iBill News
Last Updated: Monday 19 May 2003 at 9:19 AM U.S. Eastern Time

--------------------------------------------------------------------------------
VISA EU Update


It has been recently reported that iBill received notice that its acquiring bank in Europe was considering a suspension of iBill's VISA processing for foreign sponsored merchants. Currently, we are continuing to process EU VISA transactions. We are working toward a resolution of this issue, which affects not only iBill, but IPSPs with a relationship with our EU processor. US merchants are unaffected regarding this issue. To avoid any confusion, please be assured that merchants based in the US can process domestic and international credit cards as per usual.

Master_Yoba 05-19-2003 10:34 AM

fuck :321GFY

scoreman 05-19-2003 10:41 AM

Quote:

Originally posted by ONS
When this bomb drops it will be the end so better jump over to Epoch or CCbill while you can! :thumbsup
What makes you think that you would be safe over there? These Mastercard issues are not limited to iBill only, all the processors are going through this, only iBill's being a public company makes their problems visible.

dimonka 05-19-2003 10:42 AM

Use PSW or CCBILL...

Kimmykim 05-19-2003 10:47 AM

Quote:

Originally posted by nevermind


I understood most of your post but what do you mean about "guarantee."

Interesting, in a thread about IBill potentially losing their ability to process for EU merchants, the only thing that nevermind takes away from it or comments on is something directed at ePassporte.

Even funnier, in searching nevermind's posts, nearly all of them are directed at ePassporte/Epoch, overwhelmingly negative as well.

I guess we can see where her head is.


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