IBILL--The REAL Deal

**TheLegacy** · 03-08-2006, 02:45 PM

Im waiting until IBill screams against this - oh wait they are still trying to find out who stole their lists

mn · 03-08-2006, 02:47 PM

Uh...

I can't find any BIG site processing through ibill. So #7 can't be true.

Anyone who can prove me wrong?

**willow** · 03-08-2006, 02:49 PM

Originally posted by DAVESNOTHERE

8. segpay is essentially ibill without the debt. their prime players over at segpay, namely cathy beardsley, whom your humble author of this post has never met, is in charge over there. she and the others that run that joint are the real crooks that took off with your money. You see, ibill was once huge. but to pay for their huge houses, expensive cars, coke habits etc..they kept borrowing against YOUR money a month in advance. and they kept doing that to pay their humoungus salaries. well, they kept "paying themselves forward" that it finally caught up to them after 6 months to a year, and BOOM-their 43million in debt. there were just simple sales people, not executives or management or anything like that, bringing in $300,000 a year. thats $25,000 a month just to sign your account up. but segpay is this new, honest company! ya right.

Well I have met Cathy and some of the people over there. You're an idiot for posting what you don't know.

When 1st Data pulled the plug they held a huge sum of money to cover their risk of the next six months of chargebacks and the next few years of risk from the account. Anyone who has had a merchant account terminated will tell you that they freeze your account and the holdback and suck any cash they like into a black hole until they deem their risk diminished. To be in that business you have to have the cash reserves to get over the sticky bits. iBill didn't.

That's not Cathys fault, or any other regular employees fault, it's the owners fault. It still sucks.

I believe that Segpay is owned by a guy who got iBill a merchant account years ago in Europe and did some consulting for them. That's it. Big whoop.

Hate iBill and the people who owned it and did nothing to avoid a huge iceberg called 1st Data, despite it blipping on the radar for months. Do not hate people who still have to work for a living in a small industry.

**DAVESNOTHERE** · 03-08-2006, 02:49 PM

Originally posted by mn

Uh...

I can't find any BIG site processing through ibill. So #7 can't be true.

Anyone who can prove me wrong?

they still have some relatively large accounts..maybe the word BIG was a bad choice of words. they're still in business, they got to have a few accounts bringing in money.

**DAVESNOTHERE** · 03-08-2006, 02:52 PM

Originally posted by willow

Well I have met Cathy and some of the people over there. You're an idiot for posting what you don't know.

When 1st Data pulled the plug they held a huge sum of money to cover their risk of the next six months of chargebacks and the next few years of risk from the account. Anyone who has had a merchant account terminated will tell you that they freeze your account and the holdback and suck any cash they like into a black hole until they deem their risk diminished. To be in that business you have to have the cash reserves to get over the sticky bits. iBill didn't.

That's not Cathys fault, or any other regular employees fault, it's the owners fault. It still sucks.

I believe that Segpay is owned by a guy who got iBill a merchant account years ago in Europe and did some consulting for them. That's it. Big whoop.

Hate iBill and the people who owned it and did nothing to avoid a huge iceberg called 1st Data, despite it blipping on the radar for months. Do not hate people who still have to work for a living in a small industry.

you dont know jack shit bitch. cathy beardslee is the biggest scammer out there. she laughed all the way to the bank with all these webmasters money.

mn · 03-08-2006, 02:56 PM

Originally posted by DAVESNOTHERE

they still have some relatively large accounts..maybe the word BIG was a bad choice of words. they're still in business, they got to have a few accounts bringing in money.

Ok any chance you could post some names of the bigger companys?

I thought they lived on rebills... on old clients...

**EdgeXXX** · 03-08-2006, 02:58 PM

Originally posted by Franck

7. they are relying on re-bills for the majority of their business and a few, very few big accounts that still, unbelievably enough are still hanging with them. that pays the employees and the bills.

Who are those idiots?

That's what I am wondering, who the hell is stupid enough to still be processing with iBill???

**willow** · 03-08-2006, 03:01 PM

Originally posted by DAVESNOTHERE

you dont know jack shit bitch. cathy beardslee is the biggest scammer out there. she laughed all the way to the bank with all these webmasters money.

I'm sure that's why she's doing 9 to 5 over at Segpay. Anyone with any doubt can call them up and ask to speak to her.

Let me break it down for people. A few years ago Mastercard came along and revised their rules and decided, because they could, to RETROACTIVELY apply those rules to adult ipsps for the previous two years. Huge fines everywhere. Anyone still standing today in the ipsp biz had the cash to pay this.

1st Data knows how Visa and Mastercard work, that's why they're almost certainly (because I don't/didn't care or work at iBill) holding all the money over at 1st Data. They'll be holding it for years until they're sure there are no more fines coming along. Just as well they did coz I noticed in another thread the iBill database is compromised and there will be fines to pay for that too.

By the time the lawyers get done with this in 5 years there won't be anything left.

Don't get me wrong, someone is always getting paid on these deals, I don't think it's who you're pointing the finger at.

**Libertine** · 03-08-2006, 03:01 PM

Originally posted by EdgeXXX

That's what I am wondering, who the hell is stupid enough to still be processing with iBill???

ultrawiredsex.com, for one.

**Fresh** · 03-08-2006, 03:04 PM

damn....

mn · 03-08-2006, 03:11 PM

Originally posted by punkworld

ultrawiredsex.com, for one.

Any other examples? That's a huge site from the past. Not much traffic nowdays though.

**Damian_Maxcash** · 03-08-2006, 03:11 PM

I know of at 2 medium to large companies that are using them and get paid by them, even for old rebills.

mn · 03-08-2006, 03:14 PM

Originally posted by damian2001

I know of at 2 medium to large companies that are using them and get paid by them, even for old rebills.

Ok any chance you can post a link to them?

**Damian_Maxcash** · 03-08-2006, 03:18 PM

Originally posted by mn

Ok any chance you can post a link to them?

Not a hope in hell

They both send me money and Im not going to jepodise that......

mn · 03-08-2006, 03:21 PM

Originally posted by damian2001

Not a hope in hell

They both send me money and Im not going to jepodise that......

Ok then I understand.

Anyone else who knows of any medium to larger sites processing with ibill?

IBILL--The REAL Deal

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