Originally Posted by Snake Doctor (Post 13504975)

This was the point I made earlier and I got the brush off like I was a kid who didn't understand the discussion the grown ups were having.

Nice to see I'm not the only one who sees the potential for major conflics of interest.

Originally Posted by PBucksJohn (Post 13504354)

I understand you are frustrated and you have every right to be. Anyone who loses money is going to be angry about it and they will usually direct that anger to whoever is the face of that company at the time.

As you said, Cathy took leadership during the worst of it. She became the face of iBill's downfall even though the events that caused FD to terminate iBill's relationship with them had been set in motion prior to Cathy's taking the position of CEO. She had no idea of the situation when she took the position and could have very easily walked away when she found out what was going on. She chose not to because she hoped she could do something positive for those who were about to lose a lot of money. She did do things for iBill clients that would not have happened had she not been there. For example, $20 million was freed up and paid out to EU merchants during Cathy's time there which most likely would not have been paid out had she not been there. Unfortunately, the US reserves were a lot harder to have distributed.

Again, I totally understand your anger and frustration. I had close friends of mine who were screwed by iBill. I know what went on there. It was a shitty thing that happened. Of course Cathy is going to tell you she is doing everything she can to get you paid, she was. Unfortunately she did all she could and that left a lot of people out in the cold and unpaid.

That article is from The New York Daily Times, whatever that is, not the New York Times. I have no idea what that is and how respectable it is and therefore I'm not going to comment on the article.

Again, I understand your anger and you have every right to be angry. Hopefully one day you'll place that anger where it is deserved, at those who caused iBill to fall as it did and not at those who were the face of iBill when things became public and did everything she could to get as much paid out as possible.

Originally Posted by Kimmykim (Post 13504863)

The fact that I think it's a conflict of interest for you to own part of a processing company? That's pretty clear.

I don't see CCBill or Paycom with any access to data that is not processed by them directly.

Originally Posted by acratophorum (Post 13504999)

John,

Cathy demonstrated a lack of ability as the top executive at ibill. She came in to to fix the problems, and failed. She could not execute.

So, we have one mediocre (at best) executive running TMMSegPay. Next, and with all respect, what do you and Charlie know about banking/payment processing?

Think about it. What if TMMSegPay begin to experience problems similar to iBill (or other problems, for that matter)? You have a one mediocre executive and two other totally inexperienced executives calling the shots...

It's a good thing the adult industry is a tight community, where friends do business with friends just for the sake of keeping friendships. In the real world, this kind of deal would be destined for failure imo... :2 cents:

Originally Posted by acratophorum (Post 13505012)

Your logic is flawed here. Not saying I disagree with you, but just because CCBill and Paycom don't have access to this sort of data, doesn't make it wrong...

Originally Posted by PBucksJohn (Post 13505019)

Who said Cathy is running TMMSegPay? Myself & Charlie are, and IMO we know what we are doing regards to running a company. Even if you think we are "inexperienced executives".

You're right, Charlie and myself don't know about the banking industry. However, Cathy and other people at SegPay do, which is what they will be handling.

It is a good fit, and everyone will be doing what they know how to do.

Originally Posted by Kimmykim (Post 13505053)

I've been in the processing business for 8 years +, going all the way back to being VP at CCBill. I don't think that my logic is flawed.

I simply see too many chances for impropriety with the data.

Originally Posted by acratophorum (Post 13505057)

Ok so say that you and Charlie will be running TMMSegPAy...we now have two executives with no experience in the field running a billing company...That is a recipe for disaster in my opinion...

I wish you the best of luck though...It wouldn't surprise me if you do well, but only because your friends will support you

Originally Posted by PBucksJohn (Post 13505075)

There are many aspects to running a business. We are very good at many of them. If you feel we're not I only wish to know why you feel that way.

There are people involved with SegPay with a tremendous amount of banking experience and they will be handling the banking relationships. One person at a company does not handle all aspects of a company.

Sorry you have such a negative outlook for us without even knowing exactly who or what is involved nor the backgrounds of those people.

What is it exactly that you do in this business that allows you to know how well I will do in the future?

Originally Posted by acratophorum (Post 13505069)

Your logic was flawed...you said that because CCBill and PayCom don't do something, that makes it a conflict of interest. That is flawed logic.

While you may be right, just because those two billing companies don't do something, doesn't necessarily make that activity wrong. :2 cents:

Originally Posted by acratophorum (Post 13505105)

Don't turn this around to me. I'm just saying, usually executives of a company have experience in the respective field of the company, particulalry in the banking/finance world. There is good reason you'll never see the CEO of gap running Goldman Sachs. And your new business, as a payment processor, is definitly one of those businesses who could profit from an experienced exec.

There is a simple solution to this problem: hire an executive with payment processing experience (one without a dirtied reputation would help your cause, I'm sure).

Again, nothing personal John.

Originally Posted by Kimmykim (Post 13505135)

Perhaps you'd want to look for your logic, as you seem to be missing it at the moment.

There is a very good reason that CCBill and Paycom don't do things, such as owning sites, accessing data that is processed by their competitors, etc. It would give way too much potential to a conflict of interest.

Originally Posted by PBucksJohn (Post 13505137)

Sorry if you thought I was trying to make it personal, not what I meant, just curious who you are :) Text can be very misleading at times.

A company's ability goes much further than its CEO. Myself & Charlie are there to make sure the business end of things goes the right way. That customer's are treated right and directional decisions are made to keep the company headed in the right direction.

Cathy (who has a fantastic relationship with Visa/MC and a number of processing banks despite some people blaming her for what iBill did to them) and other people are there to make sure the banking relationships are 100% solid.

I'm very confident that the people in place will make this company very successful. I don't see why you have any reason to believe otherwise. I don't know if you know myself & Charlie, or anyone involved very well. Maybe if you did you would think differently.

Originally Posted by acratophorum (Post 13505183)

I gotta disagree with you on the CEO point John. A company is all about its leadership in my opinion. A good competent qualified leader will make or break a company. You and Charlie clearly have done well running NATS, but that doesn't guarantee that you will have the same success running a more or less unrelated business. I hope you do well, just because this industry needs more payment options.

Originally Posted by PBucksJohn (Post 13505197)

Give us a chance and let us show you :) When Charlie got involved with me at TMM he knew NOTHING about software. Now you would think he was a seasoned veteran at running a software company. We are both very quick learners and very good at what we do, which is lead.

Originally Posted by PBucksJohn (Post 13501523)

I would like them to explain exactly what happened in detail to you.

Originally Posted by DirtyWhiteBoy (Post 13505255)

The people from IBill should have explained EXACTLY what happened, in detail, a long time ago when it happened. To do so now is a little late if you ask me.

I know TMM is a solid and honest company but that just sounds bad. :2 cents:

Congrats none the less. Nice move. :thumbsup

Originally Posted by TheLegacy (Post 13502415)

My dear friend Charlie Berrebbi informed me a short time ago about this acquisition and I was thrilled by it, practically jumped out of my chair in excitement for such wonderful people. Too Much Media is an amazing company to be apart of and they have done all of us all a great service by staying honest and professional in all that they do.

My best wishes and hope for more great things to come from everyone of you

Originally Posted by Gerco (Post 13502684)

Sorry, But to even hear the word "Ibill" and any past association with them is enough to say no thanks. I have a 10,277.61 reasons for this. I have every email from them as they promised payment to me. To date... ZERO payout. Cathy might just be a great person... but you know what... she GOT her paycheck. I never got mine.

Originally Posted by will76 (Post 13505833)

yeap. I have to agree with this as well. I have 50,000+ reasons of my own.

She was the CEO of a company that fucked me out of a nice chunk of cash. Not to mention she worked with the company in an upper level position for several years. Sorry, she might not have been the problem BUT she had to know that there was a problem and she stayed on and collected money. I would have quit personally instead of staying knowing that it was a fucked up situation. Maybe she is a great person, i know she didn't own the company, but i can't get passed it. I've seen it happen before with Web800. They go under and before the flame are out their "crew" starts digiblaze. 1 year later that one is out of business. There other options out there that have been in business for years that have not had any trouble in the past. Why should I try someone who worked at the company (for a long time and was in upper level position) that not only went out of business but cost me a lot of money in the process. For me there is no second chances, I am not in the business of giving someone the benefit of the doubt. Now if Segpay wanted to pay me what ibill owed me, then i would be willing to give them a shot. until then I would stick with a company that has a proven record, not CEO's and employees with questionable pasts. :2 cents:

Originally Posted by DirtyWhiteBoy (Post 13506216)

BTW... when is 4.0 coming out?

Originally Posted by Kimmykim (Post 13506559)

So, is Chris Williams still at Segpay? Just curious.

Originally Posted by DEA (Post 13507614)

Why would anyone use a company that employs cathy beardsley or ANY ex-ibill EXECUTIVES !

Are you fucing kidding me?

FACT: Cathy Beardsly GOT PAID EVERY SINGLE DIME IBILL Owned her for Work.

FACT: HER CHECKS CAME FROM WEBMASTERS UNPAID REVENUE.

FACT : SHE ASSURED IBILL CLIENT THEY WOULD GET THERE MONEY

FACT: SHE NEVER CONTACTED A SINLGE WEBMASTER TO APOLIGIZE FOR HER/IBILLS ACTIONS DURING OR AFTER HER NUMEROUS PROMISES THAT SHE FAILED TO KEEP.


FACT: WEBMASTERS SHOULD NOT USE SEGPAY OUT OF PRINCIPLE.


AND PR...you can make exxcuses for cathy all day long but unles you deat with her/ibill during the revelant time period and lost THOUSANDS of dollars then what you have to say means jack fucking shit....

Did ibill burn you for tens of thousands of dollars?
did you deal with cathy beardsly 2 yeas ago?
Me thinks not.

Originally Posted by will76 (Post 13505833)

yeap. I have to agree with this as well. I have 50,000+ reasons of my own.

She was the CEO of a company that fucked me out of a nice chunk of cash. Not to mention she worked with the company in an upper level position for several years. Sorry, she might not have been the problem BUT she had to know that there was a problem and she stayed on and collected money. I would have quit personally instead of staying knowing that it was a fucked up situation. Maybe she is a great person, i know she didn't own the company, but i can't get passed it. I've seen it happen before with Web800. They go under and before the flame are out their "crew" starts digiblaze. 1 year later that one is out of business. There other options out there that have been in business for years that have not had any trouble in the past. Why should I try someone who worked at the company (for a long time and was in upper level position) that not only went out of business but cost me a lot of money in the process. For me there is no second chances, I am not in the business of giving someone the benefit of the doubt. Now if Segpay wanted to pay me what ibill owed me, then i would be willing to give them a shot. until then I would stick with a company that has a proven record, not CEO's and employees with questionable pasts. :2 cents:

Originally Posted by PBucksJohn (Post 13507626)

I'm done saying the same thing over and over again to a few people. If you don't like it, don't use it. It is as simple as that.

Originally Posted by The Ghost (Post 13507780)

Congratulations guys! And very much looking forward to V 4.0 :)

Originally Posted by PBucksJohn (Post 13501203)

About Segregated Payments ? Based in Cyprus

Originally Posted by ronin (Post 13507856)

:thumbsup


well said...

some people just don't understand...

Originally Posted by ronin (Post 13507856)

:thumbsup


well said...

some people just don't understand...

Originally Posted by Gerco (Post 13509293)

Honestly, It's not a matter of understanding at this point. John, Nothing against you in any way, I think you understand my points here. Where is Cathy? Your CEO now, that makes her your employee now, but I have not see anywhere where she has come and defended herself. All I ever see, and all I have ever SEEN is her hiding behind ambiguous press releases or other people speaking for her.

All you really say is she "took control at a bad time" blah blah... She was a VP with Ibill before she took control... you don't think she knew EXACTLY what was going on? You want me to believe she took control of Ibill blind? I tend to believe she milked Ibill for her 250,000 (I get the 250,000 from another board where this has also been discussed, and that amount may or may not be correct. I can't seem to find any of Ibills actually CEO payout records. I'm sure someone can located them and correct me if the information I have seen is wrong) and once saw that she was not going to steal any more money off us, jumped ship.

She was Captain of a sinking ship and let all the passengers drown while she took there money. How do you think this is going to be looked at?

I would really like to see HER come into this thread and explain her actions.. not at some convention where everyone is high fiving over free beer.

Now, after having said that, I personally wish you all the luck in the world in your new venture. If a stable trust-worthy billing solution came out of this then it would be nothing but good news for everyone.

Originally Posted by Sebastian Sands (Post 13509443)

Are you offering any deals on the new NATS version during Internext?

Sebastian

Originally Posted by PBucksJohn (Post 13509421)

I don't think Ronin's comments were directed at you. You present your points professionally and have a reason to make them. I do understand your point and as I have said I expect you to be cautious if you were screwed by iBill, you'd be wrong if you weren't.

You really summed up one of the main problems with this whole situation in your post. You're taking information you heard from people who have no clue about the situation, just some anger and hatred, and taking it as fact. This industry has a lot of people who think its ok to push people's buttons, trash people, make up rumors, etc. just for fun. Then people take what they say and run with it.

Cathy took no where near $250k as CEO of iBill. Her compensation was much lower than that and she has said many times she would gladly give all of it back if it would make people realize she wasn't there to profit off their losses. Would that really make you feel better if she did so?

Thank you for the kind words also. We're all here to build something good for this industry and we understood going in that some people would have a problem with it because of what happened at iBill. We wouldn't have done the deal if we weren't confident that over time people would realize who the good & bad people at iBill were. We know that will take some time, and that is only fair to those who suffered losses.