IBILL--The REAL Deal
 

some facts from a former ibill employee:

1. andrew quit, he didnt get fired. they took away his commission/draw after he did something wrong, which essentially cut his paycheck in half. what was a decent paying paycheck every two weeks turned to peanuts when you cut it in half, forcing him out. believe it or not he was there for you guys trying to get you your money through settlements. it wasnt his deal. it was management in october telling him to tell you that he has no idea whats going on with settlements. they ALWAYS pay their employees their full check every two weeks. never a problem there.

2. at the end of this month, dont expect half of your money that your owed. it was suppose to be half your money this march and the other half march 2007. you never going to see that. instead, expect a notes payable offering you a stock option on their worthless penny stock, which is at .08 cents last time i checked. check out your new stock at: yahoo finance, IBDI.OB in the search

3. they were indeed evicted out of their once huge building and moved to one floor of a small office building.

4. i know a lot of employees, sales, customer service, client services that turned their phone off so they wouldnt have to deal with customers calling up about their settlements. there is simply no money for settlements. period. i saw one client that was owed over 2 million dollars! never going to see it, no way. they dont even really have a lawyer. they fired the one and only in house attorney because he fucked something all up.

5. if you need technical support or client services, just to set up a new account or anything really, plan on waiting days. there are about two people out of 40 that work there that know what their doin and they dont really care.

6. reserves..forget about those, you'll see them when you see your settlement. just around the same time, never.

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.

8. segpay is essentially ibill without the debt. their prime players over at segpay, namely cathy, 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.

9. the new owners are the old owners, just incognito. just the top level management and everybody that was associated are gone.

10. they go through employees very quickly, especially sales. people dont know what they are getting into or what they are dealing with when they are hired, let alone the industry. they'll hire any joe schmo that can turn on a computer.

you probably know all this stuff already

Weeeeeeeeeeeeeeeee :glugglug

sorry for andrew to a point - I am sad that he had to realize IBill's fault the same way webmasters have and continue to do

I'm glad I never processed thru them.

The saga continues...

Oh IBill...... :mad:

I'm surprised a government body hasn't come to investigate ibill yet, especially the SEC considering the various fraud allegations of a public company...
WG

Hahah very nice :)

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?

One big cluster fuck.

I wonder what they do offer their account managers for salaries and such.

Hmm this looks like a nice warm spot to sit. :1orglaugh

see siggo...

You calling quiet an idiot? :helpme

Uh yes? A big idiot?

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

Uh...

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

Anyone who can prove me wrong?

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.

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.

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.

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

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

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

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.

ultrawiredsex.com, for one.

damn....

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

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?

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?

that outta nail the coffin closed on this. thats fucked. i heard some things very similar to this.

http://www.gofuckyourself.com/showth...ghlight=segpay

people who work for thieves are no better than thieves themselves ( unless they aren't aware ) anyone working for ibill realised they were thieves before their first paycheck

That thread i linked to is very interesting. Although it will only leave you wanting to ask more questions.

I agree with half of that.

Maybe someone who actually knows can give the full story, I won't be holding my breath. For me it looks like Chris Williams who got iBill a merchant account years ago in the EU and a few people, one who used to work in the tech department and one manager, are working at SegPay.

You could look at it as they stole all the money from iBill and setup a new billing company, that doesn't make a whole lot of sense and it would paint a big target on them if true. I doubt any of them were in a position to be able to do that.

Maybe I'll call them in the morning, maybe they'll post here. Maybe people can do their own homework. Maybe it's all true and they're scamming bastards.

?

:1orglaugh are you sure?

A lot of people got fucked by Ibill. I'm really surprised they even bothered to make a payout last summer on the reserves.

They did start to make reg. payouts again had u kept some of your rebills with them. I don't know anyone who is processing new sales for Ibill, only recurring.

for those newbs who dont know... Ibill was built on spam and fraud. most of its business came from the spammers they supported. a large bulk of the spam was to questionable sites which converted best.. zoo sites, scat etc. by "supported" i mean flying around the world to meet them, giving out their e-mail databases to that group of people, allowing us to create our own master accounts and sub accounts on the fly, covering up for spammers on messageboards (pre-2000) when people were really in shock and awe that someone would spam an adult site by replying to those people who used to love posting on the boards "Ibill account xxxxxxxx is spamming... here is the text/mail/links"... where they would "terminate" that account and post about it publically by responding with crap like "thanks for the heads up, his account has been terminated" ... while the money was always in the master account and it was only a subaccount that was termininated.. yet we could create unlimited sub accounts through thier system. people got fucked hard by Paul Vixie (i think that was his name) when they blacklisted all IBill IP's because of the spam that was going on, they got fucked with 900 numbers... they have got fucked again and again by people not getting paid. i doubt it was a viable business when it was sold. it was nothing more than a processing clearing house for spammers and scammers. once spam got harder, the company was sold and the buyers were apparently not scammers... just idiots.

if you believe in this company and their ability to pull through after all you have seen and know... then you deserve to lose your money.

What are you laughing about? No, I'm not sure. But with an alexa rating of 297,000 today there can't be many new signups. Rebills might be good, but not good enough to run a processing company.

So my question remains - any medium to big sized sites using ibill today?

And your question is answered because that site is STILL a medium to big sized site using Ibill.