Ibill Loses European Visas
 

Hi Guys. Was reading the Intercept quarterly report and saw some real interesting stuff.

The one thing that may interest some of you here is the following:


"Additionally, we are not able to acquire transactions on behalf of foreign sponsored merchants, unless the transaction is from an acquirer within the sponsored merchant's region. We have established relationships with a foreign bank to serve as iBill's acquiring bank. If we fail to comply with the new Visa rule, Visa may fine our acquiring bank, which will in turn seek indemnification from us. We were notified on Wednesday, May 14, 2003 that our acquiring bank plans to suspend our Visa account on Friday, May 16, allegedly due to our failure to comply with applicable Visa rules. We believe we are in compliance with those Visa rules. This action, if it occurs, will effectively terminate our ability to process Visa transactions in Europe. Those transactions contribute approximately 4-6% of our aggregate merchant processing revenues. We have urged representatives of the bank to withdraw this threat. Although we intend to pursue all available legal remedies for this action, we cannot as a practical matter replace the acquiring bank in this time frame, and we could lose a majority, if not all, of the revenues from our Visa transactions in Europe if the bank follows through with its threatened action. "


Here's the url where i got it from
http://biz.yahoo.com/e/030515/icpt10-q.html

Damn.

Not good. Not good at all. Damn, the noose tightens again.

Not good at all.

Glad we use http://www.geobucks.com and http://www.trafficassistant.com

I'll just set a redirect for all European traffic headed to a iBill sponsor for now. That way I'll still make good money off of the traffic iBill can't bill for now.

Hugs,
Danielle

How shocking . . . LOL :winkwink:

Long time no see, Shap.

pretty interesting

jesus

not good :helpme

the idiocy is blinding..


IBILL thought they were smarter than VISA and let a bunch of sponsored merchants under the table that didn't have an actual presence in the region and now they are bitching. BAH. Serves them right for being fucking idiots and jeopardizing every other EU client.

When are we going to hear something good about IBill?

Besides Lensamn saying they are great.

Glad we signed up with Epassporte. :thumbsup

Epassporte is great, but it doesn't cover you for all your clients, unfortunately. Epassporte is a great as long as you have a (or several) backup processors.

Wouldn't you just love to send Mickey and Mallory to Visa's corporate headquarters!

http://users.bigpond.net.au/cassdvd/natura2.jpg

One word. YES.

sorry KRL, but how is this VISA's fault? They laid out the rules last year. IBILL chose to try to go around some of them:

http://bbs.gofuckyourself.net/showth...IBILL+ region

Therefore, effective May 22, 2003, iBill Europe will only offer Visa credit card payment services to those merchants based in the European Region.

http://bbs.gofuckyourself.net/showth...IBILL+ region


Well what the hell were non EU webmasters doing processing in EU in the first place after cross border aquisition rules were in place ?

What if we switch to Visa USA? Do we still lose Visa rebills?
I have still a US company which I setup in November crisis.

so? the fact that ALL E.U. visa subscriptions/rebills will be lost for everyone who deals with ibill sucks for everyone. period.

the may 22 thing makes sense. this does not.

Come on everyone keep your spirits up. It'll all be ok. Things always work out. I can tell its going to be another rainy day on GFY with this wonderful news.

Anybody up for adding Partygoat to the pic?

http://www.musicman.com/web/sing.gif

Yesterday, after several hours full of signup, there is zero Ibill signups for 6 hours (Thu. 20pm - Fri. 02am EST)

This is more than bad luck, there must be something related with this Visa problem... How about your sales between these hours? Especially from Visa EU..

I feel we need a song courtesy of 60's rock group Blood, Sweat, & Tears.

:1orglaugh

i just went to look. i'm still getting signups, but this is the worst day i've had in roughly 3 years. rebills are normal though.

Even if this passes without incident it has all EU Ibill merchants within a hairsbreadth of losing all they have worked for.

Nothing will ever be the same after this, if it happens or not.

I can imagine what the nature of the alleged violation might be, and if it is so expect some other big news very shortly.

And Ibill: you should have had someone here talking about this the moment the filing went public today.

Mine have been slow, some big gaps today. Seeing as it is 10 am here in London it might be time to whip out the old card and see if things are actually working.

Anyone want to bet on whether or not Monday's payout comes?

If I quote this, will it play twice?

yes/no

true/false

please choose one.

Yes it does. Hit the stop button on yours to end the echo.

Thanks :mad:

Tried to buy something with Ibill yesterday from europe and my
visa card was declined....:disgust

So what has actually happened,

Is it they have lost their EU processing, or is it that if I'm in the EU and I try to join an IBILL site I can't , even if they process with visa USA.

Then they should contact an attorney like Paycom did and FIGHT IT. :feels-hot

I mean WTF they are publicly traded. Show a little respect to your stockholders & fight for your business.

its gonna sound weird now

I have the stereo speakers on full while playing Metallica and then this crap joins in. Didn't mix well tbh. :P

A tad irritating but what the hell....
I'm in a great mood right now. Music is loud and my cold beer is in the fridge. :glugglug

the sky is falling....


haha nice tune..

The EU issue would only affect iBill-EU merchants, it doesnt affect iBill-USA clients. Endusers in Europe with Visa cards are also not affected. We have had all kinds of new joins and rebills since midnight from Europe and with Visa.

Lens, is there any way we can disable these music files? This is ridiculously annoying.

I hope really bad things happen to Visa and Mastercard. Really horrible and bad things.

Ibill can bill Europe,
the only thing that isn't going through are the people who process with IBILL EU.

So that's US surfers aswell trying to sign up at a IBILL EU processed site, so geo targetting wouldn't do diddly squat in this case.

Epassporte is scary,they want a guarantee (if they are collecting the fees for my site they should have the money for their fees)and they want your bank info(the answer I got on this one ,we want it because in the future we maybe adding a function.Why cant you ask for it when you have the function instead of my bank info sitting god knows where). It makes me nervous to give a offshore company my bank info, remember if they can put money in they can take money out. Also bothers me that no body can give a straight answer who owns it, this some of the owners of epoch maybe also be owners of epassporte but I dont know. Thats very weird. Most people are proud of what they own a part of , everybody is being vague. Be careful people

So there is no misinformation regarding this topic, we?d like you to know that we are continuing to process EU VISA transactions at this time. We are working toward a resolution of this issue, which affects not only iBill, but IPSPs with a relationship with our EU processor. US merchants are unaffected regarding this issue.

You know you could help your company tremendously simply by dropping in for a few minutes a day to touch bases with the people that make you money. It's not fucking rocket science. I'm sure you are just an employee but maybe you can hit your new bosses up with the idea. You'll either get a promotion or fired like the other 40 some odd ex employees.

Damn, this sucks....

corvette... where are ya man... ;-)

To avoid any confusion, please be assured US merchants can process domestic and International credit cards as normal.