I-Bill going down would be a catastophic event for our industry. More news... - Page 2 - GoFuckYourself.com

Rick Latona · 09-22-2004, 10:43 AM

I've just heard their motion was denied.

stocktrader23 · 09-22-2004, 10:45 AM

Quote:

Originally posted by Rick Latona
I've just heard their motion was denied.

All the conflict. I wish they would just let everyone know what's going on.

Rick Latona · 09-22-2004, 10:47 AM

Quote:

Originally posted by stocktrader23
All the conflict. I wish they would just let everyone know what's going on.

I have a very credible source.

Lensman · 09-22-2004, 10:48 AM

Quote:

Originally posted by Rick Latona
I've just heard their motion was denied.

Should be interesting to see if you're right.

WiredGuy · 09-22-2004, 10:59 AM

Quote:

Originally posted by stocktrader23
All the conflict. I wish they would just let everyone know what's going on.

I trust Rick's opinion over most GFY'ers any day.
WG

stocktrader23 · 09-22-2004, 11:00 AM

Quote:

Originally posted by WiredGuy
I trust Rick's opinion over most GFY'ers any day.
WG

I imagine he believes exactly what he posted to be 100% true. Now to just sit back and see how this ripples through the adult internet if it is fact.

boobmaster · 09-22-2004, 11:03 AM

Quote:

Originally posted by stocktrader23
All the conflict. I wish they would just let everyone know what's going on.

I've been on the phone with Ibill for the last hour. None knows shit. I'm on hold again.

WiredGuy · 09-22-2004, 11:04 AM

Quote:

Originally posted by stocktrader23
I imagine he believes exactly what he posted to be 100% true. Now to just sit back and see how this ripples through the adult internet if it is fact.

I'm sure the true facts will come out by the end of today's business day.

WG

Rick Latona · 09-22-2004, 11:08 AM

Quote:

Originally posted by WiredGuy
I'm sure the true facts will come out by the end of today's business day.

WG

They already have. They lost.

boobmaster · 09-22-2004, 11:10 AM

Quote:

Originally posted by boobmaster
I've been on the phone with Ibill for the last hour. None knows shit. I'm on hold again.

Transfered for the sixth time. I'm about to hang up and call CCbill.

Lensman · 09-22-2004, 11:10 AM

I have also heard from someone that was present, that Ibill lost, and FDC has stopped processing for them.

Daymare · 09-22-2004, 11:13 AM

Quote:

Originally posted by Lensman
I have also heard from someone that was present, that Ibill lost, and FDC has stopped processing for them.

Effective when?

boobmaster · 09-22-2004, 11:13 AM

Does anyone know if there will be a payout on the 1st of October? r are they going to hold all funds?

NETbilling · 09-22-2004, 11:13 AM

That is sad news. I'm sure they will work out something.

Mitch

WiredGuy · 09-22-2004, 11:13 AM

Time for the iBill execs to kick in plan B. Let's see if they have one.
WG

Keev · 09-22-2004, 11:20 AM

So does that mean NATS is gona now offer a good deal when you setup with ccbill or epoch

Rick Latona · 09-22-2004, 11:21 AM

Quote:

Originally posted by netbilling
That is sad news. I'm sure they will work out something.

Mitch

Mitch,

Call me. I have a question for you.

AlienQ - BANNED FOR LIFE · 09-22-2004, 11:21 AM

Quote:

Originally posted by Rick Latona
I've just heard their motion was denied.

LukeFord?

Crypt · 09-22-2004, 11:26 AM

Quote:

Originally posted by WiredGuy
I trust Rick's opinion over most GFY'ers any day.
WG

yup same there.

Rick is always well informed with real facts

Rick Latona · 09-22-2004, 11:26 AM

Quote:

Originally posted by AlienQ
LukeFord?

Hardly.

WiredGuy · 09-22-2004, 11:40 AM

Quote:

Originally posted by Shoplifter
Have any EU guys received a wire this week?

It seems ARS got paid, at least that's what marc said on JBM (posted yesterday):

Quote:

Originally posted by Marc De
assuming what, you are correct? really - I guess that money in my bank account that was wired by iBill today is fake and that they are out of business.

WG

NETbilling · 09-22-2004, 12:44 PM

Quote:

Originally posted by Rick Latona
Mitch,

Call me. I have a question for you.

Rick - calling you soon.

Mitch

Rick Latona · 09-22-2004, 12:46 PM

So much for getting any other work done today!

MickeyG · 09-22-2004, 12:48 PM

Quote:

Originally posted by Rick Latona
So much for getting any other work done today!

lol i hear ya there., this stuff is driving me nuts. I wish we knew one way or the other whats going to happen.

TheLight · 09-22-2004, 10:59 PM

On behalf of RED & Partners I'd like to say that we are all very sorry here to hear this crap which happened to Ibill.

We used to work with them since 1999 , were included in their top ten non USA merchant list and went away in 2002 because of IPSP regulations and cross border issues.

And I can say only one thing, out of big three or four Ibill from my sole point of view, throw rosk now, is the only company which managed to build correct business procedures and the only company where clients actually were not treated as normal people in normal business.

As for scenarious predictions , I'd guess the following, the plan B is - USA clients migrate to CCBill and Paycom while USA is out og processing and Ibill EU stays fine unless there is totally no solution whatsoever in USA for a long time because IbillEU is much smaller in processing and revenue than Ibill USA and it will be very hard to keep the company afloat with much less revenues. You cant really run Ibill with like 2 employees.
:-)
However I beleive it will still stay fine as in the worst scenario that there totally is no USA bank it's possible to outsource most of Ibill in-house procedures to cheaper solutions and that will keep the company afloat till there is a USA solution.

SleazyDream · 09-22-2004, 11:05 PM

Quote:

Originally posted by WiredGuy
I trust Rick's opinion over most GFY'ers any day.
WG

yep

Zprogramz · 09-22-2004, 11:32 PM

Quote:

Originally posted by TheLight
On behalf of RED & Partners I'd like to say that we are all very sorry here to hear this crap which happened to Ibill.

We used to work with them since 1999 , were included in their top ten non USA merchant list and went away in 2002 because of IPSP regulations and cross border issues.

And I can say only one thing, out of big three or four Ibill from my sole point of view, throw rosk now, is the only company which managed to build correct business procedures and the only company where clients actually were not treated as normal people in normal business.

As for scenarious predictions , I'd guess the following, the plan B is - USA clients migrate to CCBill and Paycom while USA is out og processing and Ibill EU stays fine unless there is totally no solution whatsoever in USA for a long time because IbillEU is much smaller in processing and revenue than Ibill USA and it will be very hard to keep the company afloat with much less revenues. You cant really run Ibill with like 2 employees.
:-)
However I beleive it will still stay fine as in the worst scenario that there totally is no USA bank it's possible to outsource most of Ibill in-house procedures to cheaper solutions and that will keep the company afloat till there is a USA solution.

Huh?

Z

susanna · 09-23-2004, 06:49 AM

Quote:

Originally posted by scoreman
I don't agree with the Rick or Stocktrader23's analysis.

IBill will be taking their recurring and the new joins to Merrick. This isnt a situation where program owners stop running transactions, but merely have moved them. VISA/MC track site owners on an individual basis and so long as they keep their ratios in balance at Merrick, VISA is not likely to say, Oh I see you have 100 chargebacks on zero new transactions at FDR but no chargebacks on 15,000 transactions at Merrick...you deserve a fine. That doesnt make sense. VISA deals with companies moving to different banks all the time. If this analysis were correct, no one could ever change their merchant account.

11 million is a huge amount of money considering iBill was well under 1% chargebacks. That amounts to $240,000 in chargebacks on $24,000 million assuming they were right at 1% for the month after they leave. FDR is going to be releasing a large portion of that money to iBill.....there is just no way they are going to be able to keep that money and take the money from the new joins that are happening right now as well. Dont forget that this money is not one lump sum that has one payable date. This is a rolling reserve that has dates for release. IBill will get past individual dates and monies will be flowing back to them, but its not like a windfall as they will be paying to a new reserve at Merrick.

But when will the reserve be released. I think its fair to say that the reserve dollars are still stuck at First Data. I think its also fair to say they are probably using todays earnings to pay off outstanding debts. I was still processing with Globill 5 days into troubled waters and that was the first I had heard about it. I lost a huge ass pile of money and all rebills. I dont want to think about the amount of money I lost as it gives me a headache.

Be worried. Nothing wrong with being worried. Just as has been said in many threads... cascade billing. The difficulty lies in a processor completely going under and closing up the stats area so you cannot tell who to contact to get them signed up again. Make some data downloads. Might be worth the effort to contact them. The other thing that happened that sucked was that globill eventually stopped writing to the password file, so those that were in there at the time of their demise remained until I figured out who was paying and who was not. Major pain in the ass.

I have also taken chances on other processors that were offshore etc because I am Canadian and wanting to process for avs systems/sites I own. It was total disaster. If you do go with Baddogs suggestion, watch them closely. Dont get into them for any large amounts of money. The thing that they all try to do is make it nearly impossible for you to figure out how much reserve they are keeping of yours. Know these things.

First sign of not paying... means one thing... they dont have the money (being tied up or locked by their bank or not....they dont have the money to pay) Be afraid.....

susanna · 09-23-2004, 06:54 AM

Quote:

Originally posted by WiredGuy
It seems ARS got paid, at least that's what marc said on JBM (posted yesterday):

WG

The big guys always get paid first... dont take this as a sign of good things. Atleast not good things for the littler guys.

09-22-2004, 10:43 AM	#51
Rick Latona The Best Ideas Start Here Join Date: Dec 2002 Location: Atlanta Posts: 6,037	I've just heard their motion was denied. __________________ Regards, Rick Latona http://latonas.com Latona's - We Sell Money Making Web Properties Note to buyers of websites and traffic: please check our inventory at http://latonas.com/websites-for-sale. If you would like to make an offer on something, just let me know.

09-22-2004, 11:13 AM	#64
NETbilling Confirmed User Industry Role: Join Date: Jan 2002 Location: Huntington Beach, CA Posts: 8,584	That is sad news. I'm sure they will work out something. Mitch __________________ Mitch Farber CEO - NETbilling, Inc. Email / Phone: 888-357-8166 / 661-252-2456 Transaction processing & 24/7 call center services with exceptional rates and flexibility, since 1998!

09-22-2004, 11:13 AM	#65
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,482	Time for the iBill execs to kick in plan B. Let's see if they have one. WG __________________ I play with Google.

09-22-2004, 11:20 AM	#66
Keev Confirmed User Join Date: May 2001 Posts: 5,335	So does that mean NATS is gona now offer a good deal when you setup with ccbill or epoch __________________ ReliableServers.com - NO REF LINK!

09-22-2004, 12:46 PM	#73
Rick Latona The Best Ideas Start Here Join Date: Dec 2002 Location: Atlanta Posts: 6,037	So much for getting any other work done today! __________________ Regards, Rick Latona http://latonas.com Latona's - We Sell Money Making Web Properties Note to buyers of websites and traffic: please check our inventory at http://latonas.com/websites-for-sale. If you would like to make an offer on something, just let me know.

09-22-2004, 11:10 AM	#61
Lensman GFY Chaperone Join Date: Jan 2001 Location: Adult.com Posts: 9,846	I have also heard from someone that was present, that Ibill lost, and FDC has stopped processing for them.

09-22-2004, 11:13 AM	#63
boobmaster So Fucking Banned Join Date: Jul 2003 Posts: 6,185	Does anyone know if there will be a payout on the 1st of October? r are they going to hold all funds?

09-22-2004, 10:59 PM	#75
TheLight Registered User Join Date: Aug 2004 Posts: 5	On behalf of RED & Partners I'd like to say that we are all very sorry here to hear this crap which happened to Ibill. We used to work with them since 1999 , were included in their top ten non USA merchant list and went away in 2002 because of IPSP regulations and cross border issues. And I can say only one thing, out of big three or four Ibill from my sole point of view, throw rosk now, is the only company which managed to build correct business procedures and the only company where clients actually were not treated as normal people in normal business. As for scenarious predictions , I'd guess the following, the plan B is - USA clients migrate to CCBill and Paycom while USA is out og processing and Ibill EU stays fine unless there is totally no solution whatsoever in USA for a long time because IbillEU is much smaller in processing and revenue than Ibill USA and it will be very hard to keep the company afloat with much less revenues. You cant really run Ibill with like 2 employees. :-) However I beleive it will still stay fine as in the worst scenario that there totally is no USA bank it's possible to outsource most of Ibill in-house procedures to cheaper solutions and that will keep the company afloat till there is a USA solution.