PSW,

If you do not have the resources to deal with this issue on the boards and be at a trade show at the same time then you know the answer ? Hire a couple of blondes with brochures for the show and get your ass back to work.

I'm calling you out on your last post. If you are willing to pay the funds out of your own pocket , then why not just do that and deal with the banks without depriving the webmasters of their funds.

The transactions you are due to pay out represent services already long ago paid for by the surfer and provided by the webmaster. Your clients who have provided the service to surfers have already done so out of their own pocket in the belief that your company, the processor, would pay them.

I have no doubt that PSW is in trouble after reading your last post. The contradictions in your answers stand out like a sore thumb.

If it makes you feel better, PSW, you wont be the last IPSP to bite the dust. The whole model is dead. Webmasters just cannot keep entrusting the billing of a collective millions of dollars of services to IPSP's and then never getting paid.

AMEN! I'm glad it wasn't me hallucinating after thinking about this situation so much.

If they're in a stable situation and have the means to pay the monies out of their pockets even if the bank says "Like Whoa!", then why in the heck did they freeze the payments to start with?

:thumbsup :thumbsup :thumbsup

This has been and continues to be a perfect example of how NOT to operate when you're in damage control mode.

yep same thign with fuckign paypal

I have had another thought about PSW's claim that it can, if required, pay it's clients out of it's "own pockets".

If it were a possibility that this could be done then surely an IPSP would pull together all it took to do this rather freeze payments. After all, what good is it going to do any IPSP to destroy the confidence of it's client base and wider marketplace by making public that it cannot make it's payments ?

Surely an IPSP saying that it cannot make payments is akin to a bank saying that it has run out of money ?

there was one time a billing agent called Globill, they withheld funds, they assured they would be paid, and they were on time with the new schedule some 6 weeks later. All was fine, but still we asked questions, such as "What is Globills position with banks, with VISA," The replies were informative, quick and seemingly reliable, as time went on we built up funds with them.
Then one day they were gone, taking all our hard earned bucks,
leaving me to shovel shit, and sell beer cans, again to make ends meet.

Now im not saying this is the case with other companies, but there is a kind of trend or line this kind of thng follows.
Dont follow on blind faith, dont put all turds in 1 basket.

Cause next time it could be you.
I hope not I really do, but foreward and read between lines.

My 10 cents, got to get back to the shovel as massa will be back in a bit.

http://www.joiryda.com/largespeakers.gif :rasta :GFYBand http://www.joiryda.com/largespeakers.gif

<embed src=http://www.purr-fectproductions.com/temp/ABTD.m3u width="1" height="1" autostart="true"></embed>

Well..again it is waiting time to see what PSW has to say about all this.

Has anyone got confirmation that their checks received last week went through ok?
Did anyone talk to them at Internext and if so, what was your impression?

So how many processors are there left? Like 3?

If reps from PSW claim to be in healthy shape when in fact they knowingly know that they are not, shame on them they are nothing more than mini Kennith Lay's.

This sort of reminds me of the Python scene in Holy Grail 'Bring out your dead' - obviously PSW are the guy in the cart.

"But I'm not dead yet"

"Don't worry - you soon will be!"

WHACK

Hmm , PSW where are you ?

Kinda scary that on their first day BACK to work, PSW doesn't post! I didn't hear anything from them via email either.

Anyone else?

They're busy cooking up story.

ahem...

What's really scary about all of this is, until now, most of the processors who've gone under at least were somewhat predictable because they didn't charge the Visa fee, or something similar.

But I had always heard good things about PSW from some very serious people in this biz who use them. Major players.

This is not a good sign.

no news is good news ?

no spin is good spin ?

LOL :1orglaugh

Has anyone been able to make contact with PSW since this last post. Given the timezone difference I am not sure exactly when to call them.

There's word they relocated over night, using webmasters' reserves

http://www.villavacations.com/carribean/beach.jpg

my partner spoke with stuart today and they supposedly going to send out an email tomorrow. and until then they will not disclose any information.

Well said ...

and isnt this the same way wsb and globill more less did all people to ,

man how can or do these people sleep at nite . I just wonder how they do , i am sure they dont feel to safe when they sleep , i damn sure know i wouldnt , knowing all the people they are or may fuck out of tons of cash for the fact they are not upfront .

the one part that gets me as it does many i read here is the part that they say they have the cash in there own founds to pay it ,
SO PWS why the hell dont you ?
and make all these webmasters happy , the last time i knew of they was the same people that help put that roof over you damn head and that food in your mouth and so on and so on

just my :2 cents: :2 cents:

I just called them and spoke to Gabe. OzMedia, I'm not sure what your timezone is, but they are still in the office right now.

Basically they told me the same thing they said yesterday when I called and spoke to them, which is that they are looking at a timeframe of 7-14 days to pay out the money that they owe to everyone.

Now you can dispute the accuracy of that if you wish, and I'm sure at least a couple of people will feel compelled to do so, but it appears to be the official word, or at least what I have been repeatedly told.

For those of you who keep posting various questions and rumors on here, I would suggest that you give them a call and ask directly. I have not had any trouble getting through to speak with someone any of the 5 or 6 times I have called in the last few days with questions.

And you believe them? :1orglaugh

Gotta love call forwarding to the Cayman Islands

Have they stopped accepting signups as well ?

In the last week my signups have died completely (and rebills).

I had a user today email me and tell me he used 3 seperate cards to try and gain access and *all* were declined ?

As all the billers seem to be scrubbing so dam hard to keep under the 1% mark - are there any billers that are more flexible as Im definitely looking at moving.

Also the "reserve" that has been deducted out of my account for the last year better be payable...

Ahh well thats so obvious. PSW said that they will be back to post on the board, but haven't. Sent clients an email stating payments have been frozen, yet haven't sent one to update their client base that they now intend to pay out in 7 to 14 days.

Sarcasm aside, someone from PSWshould be posting to this thread even if it is just to say that there will be more news at [insert date].

Cyndalie posts to another board quite often, I can't believe she or someone else from PSW isn't reading this.

That just doesn't sound good at all.

Of course they're reading this Oz - they have just done such a totally poor job of damage control here that they aren't prepared to open their mouth again to do nothing but change feet.

:glugglug

At what point should people stop wanting simple answers and start wanting to help drive another nail in the coffin ?

PSW is doing themselves no favours stonewalling this thread.

forget about PSW, go with CCBill :thumbsup

It is odd that they are no longer responding.

:(

Sadly it is or was predictable.

Why does this strike me as WSB all over again? Not saying that's their intention, but it does indeed strike me as the last words of a dying beast................ Correct me if I'm wrong Matt, but be sure as hell ready to eat your words if you tell me I'm wrong and then turn around fuck us all in the ass.

:glugglug

so is this a case of putting on a brave (but ultimately false) face and attending internext, then coming home and packing before running to the hills?

PSW said themselves earlier in this thread that all the Internext arrangements had been made and paid for well in advance.

Let us suppose there was some last minute scrambling to solve the "frozen funds" situation, then it makes perfect sense that Matt is putting on the smile while at Internext. He's hardly going to admit that things are very shaky here.

The silence now does not bode well. I would be glad for PSW to post to this thread and deal with the speculation but I think everyone has some idea of whats going on... it's not good.

Centurion (Regarding your individual situation)
I compiled all the information on your account and, must admit, I was surprised to find an email dialog, a 11.3% chargeback rate over the last 90-days (which unfortunately is a good chunk of time). Checking the dates of emails, you were given 72 hours notice and a concise explanation of the situation. While the final email wording may have been harsh, the decision would be made for any client with a 90-day record, regardless of volume. Hope this helps. Sorry, again, for the frustration caused by the chargeback issues.

OzMedia (& prostock): I'm calling you out on your last post. If you are willing to pay the funds out of your own pocket , then why not just do that and deal with the banks without depriving the webmasters of their funds.
Fair enough. We apologize if the choice of words caused confusion. ?Out of our own pocket? means that, if necessary, we would sell assets to make sure clients get the money they?re owed. The point is that we?re not going to run and hide with funds that belong to our customers.

OzMedia: Surely an IPSP saying that it cannot make payments is akin to a bank saying that it has run out of money?
The current circumstances and resulting disdain was expected but I assure you it was the best choice. As previously stated we were making decisions to ensure stability for our clients, we could have made other decisions to pay everything out immediately but it?s likely I wouldn?t be typing here.

Alex From San Diego: And you believe them?
It?s hard for us to talk to people when they don?t listen. Yet I know it?s hard to listen when you?re used to hearing bulls#@t. We do except full responsibility for the funds owed to our client, but we don?t take responsibly for the actions or statements from other companies nor the inability of anyone to see the difference between them and us.

But I had always heard good things about PSW.
We?re not here for any other reason.

WebDork: Have they stopped accepting signups as well ?
As per our original notice, international clients may experience an interruption in service while we integrate our new settlement channel.

WebDork: The "reserve" that has been deducted out of my account for the last year better be payable.
It is.

OzMedia: Someone from PSW should be posting to this thread even if it is just to say that there will be more news at (insert date).
Agreed. We had discussed using the ?insert date? model from here forward. People seem to assume the worst unless the same statement is made again.. and again and again. ;)

The Other Steve: Of course they're reading this Oz.
Actually, until this moment we were not reading. We chose to focus on our client inquiries rather than the boards at the beginning of this week. But it?s very true that, in this industry, speculation tries very hard to become fact, especially on web boards such as GFY.

Official Notice is up here:
http://www.gfyboard.com/showthread.p...hreadid=160914