Cory - I've asked similar questions that Kimmy brought up here. I think these are the most important issues that you still need to address. It's more about the security of doing business with you than the $750. charge.

You mentioned being a straightforward and direct guy. Can you use some of that to answer these questions?

Yep, by day's end.

How about a confirmation as to where the payment was received. Perhaps your bank can issue a statement that they received the money in full (750).

To me it sounds like, sign up 10,000 webmasters... Ask for 350
to internationals and 750 to US. Quick way to make money.

Prior to two weeks ago, and I remember that day vividly, AC Pay was not an IPSP. We got word on rather short notice from our processors (through our UK office) that it would fall under the EU region IPSP rules effective immediately. We appealed that short notice and got a reprieve to work out the logistics. We have a ramp up period to get everyone into compliance. I don?t have a firm date, but we are working on this around the clock.

We have two companies for AC Pay, one that is fully operational in the UK and one that is fully operational in the US. Originally we were going to use the US entity, with its several accounts for a full blown IPSP under a different name. In light of the exigency of the circumstances we are moving the US clients into the US region as quickly as possible. The registration process is beginning in earnest.

The fee waiver issue was a bit premature and we are looking into it. Because it is entirely probable that our processors here in the US might have registration information on record, there was a possibility that we could get the fee waived. This is still in the negotiation stages and may not happen. To help with the impact of all this, we are going to work out a volume requirement and pay back the fees based on a formula.

Because we are traveling rapidly down the path of IPSP compliance, the issue you raise re: Visa sanctions is obviated.

what about your Canadian customers?

Just change for another processor...

Wow, these guys are in trouble. They are playing catch up 6 months after the regulations went into effect. It doesn't work that way! Good night WSB, AC Pay, Glo-Bill, Verotel...

And goodnight grampatex, sweet dreams :winkwink:

always sweet dreams seven...:)

Hi Mac :)

It's nice to see you guys posting facts, and addressing the issues that have come to light.

I am not sure how your management team thought to process cards as an aggregator without being a proper IPSP, but that's neither here nor there at this time.

I also find some of the premature announcements you've made to be a bit disconcerting -- including the one above regarding the fees -- this would mean in essence that Visa was allowing 1 IPSP to waive fees if others had collected them for clients, but make no provision for the fully compliant from the beginning IPSPs to gain any rebate for their clients or to stop collecting the fees. Not something I see as likely, but perhaps Martin likes you guys better than anyone else ;)

And while I understand your journey, until you've reached the destination nothing is obviated, it is still a tremendously volatile and very important point to site owners.

I trust you will keep us posted on the progress of your endeavours so that webmaster community can evaluate the situatino with the correct information at hand.

Unbelievable. Yet another flip flop on fees.

Maybe you guys should do some research before you tell webmasters one thing, and then change it --- again.

This is ridiculous.

Bumpo

:question

I still don't get why people can't see the proverbial writing on the wall for third party processors...apply for your own merchant account and say goodbye to these hassles. Netbilling is a good start. :ak47:

-joe

netbilling is looking at $50,000 per month for MINIMUM !
don't think too many people here push $600,000/year

SunTzu, hey bro
you still in stealth mode ?? :)

drop me an email sometimes

I thought that was only for accounts outside of the U.S., primarily Canada, but I could be wrong.

Netbilling gives you a front end to your merchant account, but they can point you towards a company that can provide the merchant account. We've been processing with them since October. Yes we do go beyond the $600,000 minimum you quoted, but we just recommended a friend to them who processes probably about $1000.00 a month and the account was set up very quickly. I have never heard of this minimum you are quoting...where are you getting this from?

-joe

Where did you get your merchant from? Are they US based or EU based?

Who is Martin? Some kind of important playa?

And how can we get him to be nice to me too?

:winkwink:

US based through CardService.

-joe