PSW Official Statement: Yes, We're Still Here :)
 

Client Notice: PSW is alive and well

Dear PSW Clients,

Due to one of our banks' paranoia of Visa and their heavy handed approach toward the so called "high risk industry", they ceased releasing funds for a brief time period. Although PSW was never even close to Visa's chargeback threshold, our client's funds were also temporarily withheld.

These funds are now starting to be release and within the next two weeks the cash flow crunch that was unjustly put upon PSW will be over. Once again, PSW is not going anywhere. Accounts will continue to remain open and the money will start to flow again next week.

We apologize for the inconvenience and stress this has caused some of our clients and regular status updates will be provided as we progress. Again, we encourage all of our clients to contact us directly with any questions, concerns or problems they might have.

With all due repect,
PSW Billing Solutions

"Due to one of our banks' paranoia of Visa "


How many banks do you use?

Great News..

But if your Customer Service over the last few months
stays the same.. you won't be around much longer.

Of all processors, I have the hardest time dealing with you
guys on anything!

I thought iBill was hard.

Congrats! A processor who can handle problems probably also can handle business :-) I'll sign up soon!

A cart passes through the muddy road through a village.
A baby cries. People wrestle in the mud. A woman beats a cat.

The cart-master chants wearily as they trudge along:
Bring out your dead!
Bring out your dead!
Bring out your dead! etc. while beating occasionally on a large triangle with a wooden spoon.

As each person comes forward with his or her dead relative, they throw them on the cart. He holds out his hand and they pay.

Bring out your dead!

A man comes out with a dead-looking old man in a nightshirst slung over his shoulder. He starts to put the old man on the cart.

Man: Here's one-
Cart-master: Ninepence.
Old Man: (feebly) I'm not dead!
Cart-master: (suprised) What?
Man: Nothing! Here's your ninepence....
Old Man: I'm not dead!
Cart-master: 'Ere! 'E says 'e's not dead!
Man: Yes he is.
Old Man: I'm not!
Cart-master: 'E isn't?
Man: Well... he will be soon-- he's very ill...
Old Man: I'm getting better!
Man: No you're not, you'll be stone dead in a moment.
Cart-master: I can't take 'im like that! It's against regulations!
Old Man: I don't want to go on the cart....
Man: Oh, don't be such a baby.
Cart-master: I can't take 'im....
Old Man: I feel fine!
Man: Well, do us a favor...
Cart-master: I can't!
Man: Can you hang around a couple of minutes? He won't be long...
Cart-master: No, gotta get to Robinson's, they lost nine today.
Man: Well, when's your next round?
Cart-master: Thursday.
Old Man: I think I'll go for a walk....
Man: You're not fooling anyone, you know-- (to Cart-master) Look, isn't there something you can do...?

(they both look around)
Old Man: I feel happy! I feel happy!

(the Cart-master deals the old man a swift blow to the head with his wooden spoon. The old man goes limp.)
Man: (throwing the old man onto the cart) Ah. thanks very much.
Cart-master: Not at all. See you on Thursday!
Man: Right! All right....

Congrats to our friends at PSWbilling.

:thumbsup

Mitch

What are you doing to ensure this wont affect clients again ?

What of your comments in another thread which indicated you could pay clients out of your "own pocket" ? Why didn't this happen while you dealt with your bankers ?

Last time you promised things would be back to normal soon you withdrew half the service that you offered (namely VISA processing for non US/EU clients), what assurances can you provide that you're not simply making empty promises this time ?

so what's about EU clients operations?

that is bullshit, their customer service is on same level as CCBILL and all through this they have been talking with us all the time!

In fact their support team (customer) talks to our support team several times a day!

SEE THIS:

Fair enough. We apologize if the choice of words caused confusion. ?Out of our own pocket? means that, if necessary, we would sell assets as a last resort to make sure clients get the money they?re owed. The point is that we?re not going to run and hide with funds that belong to our customers.

Tipsy: the Cart-master deals the old man a swift blow to the head with his wooden spoon.
Wooden spoon, eh? Sounds like a short-term problem. ;)

OzMedia: What of your comments in another thread which indicated you could pay clients out of your "own pocket" ? Why didn't this happen while you dealt with your bankers?
As stated in the other thread, we apologize if the choice of words caused confusion. ?Out of our own pocket? means that, if necessary, we would sell assets to make sure clients get the money they?re owed. The point is that we?re not going to run and hide with funds that belong to our customers.

OzMedia: What are you doing to ensure this wont affect clients again?
That?s a very hard questions (for anyone) as it seems honesty isn?t seen as such in the current climate. I can only say that we are good people or we wouldn?t still be here for our clients and friends.

Master_Yoba: so what's about EU clients operations?
From the other thread, as per our original notice, international clients may on-and-off style interruptions in service while we integrate our new settlement channel.

netbilling: Congrats to our friends at PSWbilling.
Thanks man. ;)

Hopefully it'll never come to the wooden spoon although people around here keep trying to hit you with it :)

Glad to hear things are going well. Keep up the good work!

So the first question in this thread was 100% ignored. Great!

detoxed: So the first question in this thread was 100% ignored. (How many banks do you use?)
Had to check what the number was but wanted to go ahead and post, my friend. It varies over time, depending on restrictions, adjustments, and close outs (often, for no apparent reason - as listed above). It?s usually within the single digits.

extreme hardcore: Congrats! A processor who can handle problems probably also can handle business
That?s the idea.

Danny_C: Glad to hear things are going well. Keep up the good work!
Doing what we can.

Ok - what´s that mean?

Couldnt cope with another shock, glad your ok :glugglug

The answer my friend is the elusive dream.

There service is better than CCbill. Epoch are kings for service, setup my sites in 1 day, pswbilling 2 days and ccbill fucking hopeless took 2 weeks

Just my experience

Odd that - took me 20 mins with ccbill and problems have always been dealt with instantly.

i am curious about something. if PSW has multiple banks, and only one bank froze their funds, why were they not able to pay some of what they owed to their webmasters?

also, credit cards are a rough game these days - what will PSW do to keep payouts coming if the same bank freezes them again, but for a longer period?

talking about selling your assets is nice, but would that handle months of rebills? one month is only the beginning, after all. some guys keep their memberships going for months or even years...

let's all agree at least that

2pac is alive

basschick: why were they not able to pay some of what they owed to their webmasters?
The current situation was caused by a reserve squeeze for various banks, however the bank in question caused the majority of the problem (ie, if it wasn?t for them we?d have been fine).

what will PSW do to keep payouts coming if the same bank freezes them again, but for a longer period?
Once the circumstances were brought to our attention, we started diversifying our funding sources and establishing systems to protect our clients (part of the plan to maintain stability).

talking about selling your assets is nice, but would that handle months of rebills?
Agreed and we?ve always made it clear that we consider the database yours to control. As you know, some of the more sensitive information can?t be provided to you directly and that?s why we?ve laid groundwork to make sure any necessary transition would be as smooth as possible.

CyberSan: Ok - what´s that mean? (EU Client Question)
"European webmasters may experience an interruption in service" simply means there may be periods where orders do not go through. A few billing agents that are currently servicing the EU include CCBill, proBilling, and 2000charge. Hope this helps. We'll let you clients know when our services are fully back online.

Johnny Traffic: Couldnt cope with another shock, glad your ok
Thanks Johnny. ;)

Soul_Rebel: let's all agree at least that 2pac is alive
Yes.. he.. is. :winkwink:

There are some more processors serving Europe.

In other words you tell me know, that you would recommend, to choose another processor, right? If this is the case, why didn´t you tell this before?

Just a short mail, saying" European customers, be aware, we will stop services for you in 2 weeks". Enough time, for us to pe prepared. Instead, we got a mail saying everythink is ok...

So, what´s up now?

CyberSan: In other words ... you would recommend, to choose another processor, right? If this is the case, why didn?t you tell this before?
We have no intention of stopping our EU services and thus would never say "switch processors". However, in the current climate we would recommend that anyone spread out their assets (in the same way we are to ensure funds for our clients). If services were ever to cease be assured that we would give notice and help you transition. But again, that is not the current situation nor do we ever expect it to be.

So is there any news regarding this? Anyone recieved their frozen funds? :)

I've read that there are just three (3) banks in the US processing CCs for the adult market:

http://www.times-standard.com/Storie...528146,00.html

Assuming that this is correct, why did you say that "It?s usually within the single digits"? This statement means that PSW usually has 1-9 banks, but clearly implies that is sometimes has 10+ banks. You've made it clear that PSW DOESN'T have even one viable EU bank. So how could you have ever had 10+ banks, or even close to it?

Tell us the truth...

How many banks is PSW using currently?

What is the maximum number you've ever used?

while you are telling us this information please also tell us how much each of the comapny directors make in addition to all the marketing people you have working for you as obviously, how you choose to run your business is of concern to everybody on GFY :thumbsup

I received about half of what they owe me (about $1000) last week.

Jizar II: Checks have been rolling out to clients in groups over the last two weeks and will continue to do so.

Groove: PSW bills for mainstream companies as well, the statement was not meant to be misleading. Currently I'm guessing we're working with maybe four, though again, I'm not always completely in the loop on that side of our business.

Walrus: The CEO is currently not drawing a salary (nor any moneys through other corporate methods). We've cut out over 60% of our marketing budget over the last month. Be assured we're doing everything we can to put clients first. :thumbsup

LunaC: Thanks for letting people know money is being received. :winkwink:

Hang in there, -m

OK, you've checked your numbers and are now "in the loop" :)

So what's the story with your next statement?

For you to include non-adult processing when addressing a BB for adult webmasters is extremely deceptive. And for you qualify your numbers by saying that "I'm not always completely in the loop " when you've already said you had to "check what the number was" proves that you're a liar and a bad one at that!

I'm beginning to suspect that you're an lil2rich4u2 alias! :glugglug

I havent been paid.

Nope i havent gotten a dime yet....i keep hearing they are coming but they never come. Mine usually come on thursday, ill be waiting tomorrow patiently...then ill take it from there

So happy to hear it! :thumbsup

Hello PSW??? what about Onehunglo? what about the rest of us?

why not just use CCbill and never have problems?

That is not correct. There are other banks...they just don't advertise the fact and if you call them, they will say that they don't, however, if you have the right relationship, they will. I know this because this is what I do....find merchant accounts .... US and EU

drop me a line: mrthumbs AT noncore.com ..

tnx

I have a complete list of checks that they have sent me. The last two are marked "paid" on 2003-07-30 and 2003-08-13 respectively. Normal mailing delays are 2 weeks. Neither have arrived. I have asked PSW for clarification about what the word "paid" means with these checks.