Another payment processor bites the dust... - GoFuckYourself.com

AdultMovies.bz · 02-01-2005, 05:02 PM

If i only had a dollar for every time this happens...

-------------------------------------------
From Payaah Administration
Feb 1, 2005

Ref: Payaah.com forced terminate due to Visa/Mastercard restrictions.

Dear XXXXXX XXXXXXXXX,

Due to the recent restrictions imposed by Visa/Mastercard association
on processing of Internet credit card transactions by third party billing
companies, we have been informed by our acquirer BB&T Bank of Virginia
to stop customer transactions effective immediately.

We have pursued all possible alternative processing options for our
Vendors and to keep Payaah services, but unfortunately the Visa/Mastercard
restrictions apply to all Merchant Banks in the United States.

All Vendors currently distributing their products and services through
Payaah.com will no longer be able to process transactions and we are
forced to give notice that effective February 10 2005, your Payaah
Vendor Agreement will be terminated.

This unfortunate decision was made due to circumstances beyond our
control.

Funds And Reserves:
Please note that all funds and reserves will be released on time and
at our usual schedule.

If you continue to require online payment processing service you may
contact other payment processors that provide similar services.

At this time Payaah will only accept written communication concerning
this matter, addressed to:

Payaah. LLC.
attn: Legal Department
34 Vans Terrace,
Lake Katrine, NY 12449.

We would like to extend our sincerest apologizes for any inconvenience
this may cause to your business. We thank you for your patience and
understanding during this difficult time.

Sincerely,
Payaah Management
-------------------------------------------

Undisputed1 · 02-01-2005, 05:04 PM

wtf is up with those dumb fucks

directfiesta · 02-01-2005, 05:06 PM

How many left?....

For how long ???

Undisputed1 · 02-01-2005, 05:08 PM

not many and not for long.....adult webmasters need a trusty processor, created just for us.......

AdultMovies.bz · 02-01-2005, 05:13 PM

I think the only thing to do is use offshore payment processors... Like ones based in countries other then the US, cause the patriot act really fucked shit up for everyone...

Veterans Day · 02-01-2005, 05:17 PM

who?

Webby · 02-01-2005, 05:29 PM

Quote:

Originally Posted by AdultMovies.bz

I think the only thing to do is use offshore payment processors... Like ones based in countries other then the US, cause the patriot act really fucked shit up for everyone...

Offshore still needs banking relationships...and they are fickle as shit when it comes to the US.

What we do need is a totally different payment model where card company interest ends when a customer tops up their "internet debit card" from other cards or by check.

That version means no chargebacks - the money is there or it is not, no banking relationships needed globally and no obligations to card companies. It's up to cardholders what they want to use their cards for - ie top up another "internet card" or whatever.

Kimmykim · 02-01-2005, 05:41 PM

Pardon me for pointing out the obvious.
1. BB&T is a conservative bank with most of its base in the South. What on earth makes you think they would process adult?
2. Payaah? Who has ever heard of them? Not that advertising on a message board is any guarantee of legitimacy, but either the person promoting the processing or something about the company should lend some credibility to the situation.
3. Visa and Mastercard are not going to allow any more IPSPs to start springing up and doing business, ESPECIALLY not in the US. There may still be companies that process legitimately through other regions besides the US but if you are looking for a US IPSP, you have two choices. Paycom or CCBill. That's it.

This is not rocket science, ladies and gentlemen.

Kimmykim · 02-01-2005, 05:43 PM

Quote:

Originally Posted by Webby

Offshore still needs banking relationships...and they are fickle as shit when it comes to the US.

What we do need is a totally different payment model where card company interest ends when a customer tops up their "internet debit card" from other cards or by check.

That version means no chargebacks - the money is there or it is not, no banking relationships needed globally and no obligations to card companies. It's up to cardholders what they want to use their cards for - ie top up another "internet card" or whatever.

There are non US banks underwriting adult merchant accounts right now, that are not fickle and are in the arena for the long term.

Any product that is funded with a credit card or debit card with a Visa or Mastercard logo on it IS subject to card association supervision, laws and other regulations. This is most likely going to be the next thing that governments and the card associations start to scrutinize.

02-01-2005, 05:02 PM	#1
AdultMovies.bz Confirmed User Join Date: Apr 2003 Location: Your Mum's House Posts: 1,036	Another payment processor bites the dust... If i only had a dollar for every time this happens... ------------------------------------------- From Payaah Administration Feb 1, 2005 Ref: Payaah.com forced terminate due to Visa/Mastercard restrictions. Dear XXXXXX XXXXXXXXX, Due to the recent restrictions imposed by Visa/Mastercard association on processing of Internet credit card transactions by third party billing companies, we have been informed by our acquirer BB&T Bank of Virginia to stop customer transactions effective immediately. We have pursued all possible alternative processing options for our Vendors and to keep Payaah services, but unfortunately the Visa/Mastercard restrictions apply to all Merchant Banks in the United States. All Vendors currently distributing their products and services through Payaah.com will no longer be able to process transactions and we are forced to give notice that effective February 10 2005, your Payaah Vendor Agreement will be terminated. This unfortunate decision was made due to circumstances beyond our control. Funds And Reserves: Please note that all funds and reserves will be released on time and at our usual schedule. If you continue to require online payment processing service you may contact other payment processors that provide similar services. At this time Payaah will only accept written communication concerning this matter, addressed to: Payaah. LLC. attn: Legal Department 34 Vans Terrace, Lake Katrine, NY 12449. We would like to extend our sincerest apologizes for any inconvenience this may cause to your business. We thank you for your patience and understanding during this difficult time. Sincerely, Payaah Management ------------------------------------------- __________________ $8.35 High-Usage Adult Hosting: 510GB Storage + 5010GB Bandwidth + SQL + SSL + Free Domain With Whois Privacy. Use this Coupon Code for extra 25GB Storage Space when you join: 25freegb

02-01-2005, 05:06 PM	#3
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Montreal, Quebec Posts: 29,677	How many left?.... For how long ??? __________________ I know that Asspimple is stoopid ... As he says, it is a FACT ! But I can't figure out how he can breathe or type , at the same time ....

02-01-2005, 05:13 PM	#5
AdultMovies.bz Confirmed User Join Date: Apr 2003 Location: Your Mum's House Posts: 1,036	I think the only thing to do is use offshore payment processors... Like ones based in countries other then the US, cause the patriot act really fucked shit up for everyone... __________________ $8.35 High-Usage Adult Hosting: 510GB Storage + 5010GB Bandwidth + SQL + SSL + Free Domain With Whois Privacy. Use this Coupon Code for extra 25GB Storage Space when you join: 25freegb

02-01-2005, 05:17 PM	#6
Veterans Day Confirmed User Join Date: Jul 2003 Location: The Windy City Posts: 8,403	who? __________________ Build a Massive Traffic Network, Hands FREE, Totally Automated

02-01-2005, 05:04 PM	#2
Undisputed1 Confirmed User Join Date: Jan 2005 Posts: 663	wtf is up with those dumb fucks

02-01-2005, 05:08 PM	#4
Undisputed1 Confirmed User Join Date: Jan 2005 Posts: 663	not many and not for long.....adult webmasters need a trusty processor, created just for us.......

02-01-2005, 05:41 PM	#8
Kimmykim bitchslapping zebras!!!!! Industry Role: Join Date: Jun 2001 Location: In a shack by the beach Posts: 16,015	Pardon me for pointing out the obvious. 1. BB&T is a conservative bank with most of its base in the South. What on earth makes you think they would process adult? 2. Payaah? Who has ever heard of them? Not that advertising on a message board is any guarantee of legitimacy, but either the person promoting the processing or something about the company should lend some credibility to the situation. 3. Visa and Mastercard are not going to allow any more IPSPs to start springing up and doing business, ESPECIALLY not in the US. There may still be companies that process legitimately through other regions besides the US but if you are looking for a US IPSP, you have two choices. Paycom or CCBill. That's it. This is not rocket science, ladies and gentlemen.