PSW: I cancelled all my Visa rebills
 

I've just about had it with PSW. I've erased all traces of recurring Visa from my account and they are relegated to a backup mastercard processor only.

This is an email I just sent them. For those not up to speed with the drama, PSW stopped processing for non USA webmasters about 27 days ago. At the time it was only expected to be a processing 'gap' of 7-10 days, but that gap turned into a single option only: set up an offshore EU company so we can process your rebills. They quoted $3,500 to do it.

As you can see from the figures below I'm only a small site, but it's all relative. My total estimated losses amount to over 3 weeks worth of (net) income.


<font face="Courier New, Courier" size=2>To whom it may concern:

Your company did not respond to my email sent more than 2 days ago, so I decided to stop wasting time and cancel all Visa rebills. I calculate the direct loss of the rebills to be around $550, with further revenue losses in the future due to recurring customers not signing up again with my other processor. This loss is due solely to your ever-extending processing 'gap' which then became a $3,500 ultimatum.

I have manually deleted all recurring accounts paid for with Visa, except for 9 accounts that I cancelled as they are not yet past their rebill date.

Can you please confirm that there are NO visa rebills active any more.</font>


:321GFY

jebus, that sucks rowan... proper move though, don't bow down to outright extortion..

B4 you canelled them , did you consider offering your customers a discount if they agreed to be cancelled from Visa and sign up again using another method, ie:

- Use Visa on 2000Charge for a 10% discount
- Use MasterCard for a 15% discount
- Use Check for a 15% discount

Just an idea?

HardProfits - I did consider something like this, but unfortunately Verotel don't let me link to a specific product. The only option is a drop-down box with a list of prices, so you see everything configured. If I had been able to 'deep link' into the join form then I would have created a special price and linked to it in the mailout to the affected members.

I'm still considering a second mailout to the people who haven't re-signed, maybe in a week or so, offering them a couple of bonus sets if they sign up again. :)

It was important to move quickly as I was losing more rebill income every day.

When Visa shook us down for $750.00 in November I told them to shove it..Then I added a subacct and put up another signup page that was cheeper and emailed all my Visa accts and told them that if they used Master or Discovery they could do it for 10.00 a month less..I lost a few but in the long run some will stay longer because of it..Visa lost over 10% of their adult bizzzzzzzzzz over it..

Its just very sad that you had to make such a drastic move like that. Next time you are faced with a serious challenge with your billing, feel free to spam me for advice. I know a little bit about billing (and no, I dont sell billing services, so I am not spamming here) as I have a few sites (over 300 now), and process thru quite a few billing systems (if you check out my proggie and my other site http://www.MultiBill.com/ you will see what I mean ;-)

Cheers
Dan

*bump*

Patiently waiting for some former PSW+Visa members to sign up with Verotel... it's pretty quiet at the moment. :(

Sorry to hear about you having to do this rowan.. PSW is my backup processor and I think I've sent one transaction through them since they turned off Visa.. I'll leave them as a backup MC/Discover processor but you know.. I doubt they'll see much :2 cents: from processing the few transactions that come from me. They still haven't responded to the email I sent them on Friday. Which really doesn't surprise me in the least, since they really aren't in the customer service business.

I've got a processor for you that will do both V/MC for alot less than 5%.....

Steve
Guardian Financial Services
562.663.0700

Providing offshore consulting, merchant accounts, and incorporations for the past 14 years.

I've kinda followed this PSW thing, but not in much detail.

WHY did this happen? Up until now, I had heard pretty good things about them.

And it's confusing because this didn't seem to happen with other processors.

Im in the same situation - but I havent moved yet...

They are my Primary biller and I do significant sales through them - the $3500 isnt a big deal money wise - but I feel its extortion and there is NO WAY I will be paying it!

Im looking around for an alternative now... Guess Im looking at acpay or verotel. Main thing I want is someone with a decent looking signup form and rebilling process...

Suggestions and referer id's welcome...

I'd think the main thing would be support that is there more than a couple days a week for a couple hours a day and a company that answers their bloody email.... Then the signup forms/rebilling.

Price isn't necessarily the biggest issue though. I've only done broad research on incorporating in the USA, and I have little idea of what's involved in incorporating in EU. I don't think it's something that should be decided in 24 hours.

In this case, every day left means more money lost. Proper research, decision and setup time could potentially take weeks. I decided the risk of jumping into PSW's solution was greater than losing 600 bucks worth of rebills.

nevermind: PSW's USA webmasters had to pay the $750 fee, but at the time they said that international webmasters wouldn't have to do anything, as they had established banking relationships. Obviously something broke down, either Visa put their foot down, or their bank got shy, so we had the processing 'gap' while they changed banks. At the end of the gap they then notified us that there was no other solution but to incorporate (in a real hurry) to get our rebills. See above for reasons why I didn't. :)

You don't have a backup solution in place yet? :(

I started using Verotel about a week into the gap. For obvious reasons, I'm really glad that I did. I've already built up about 2-3 weeks worth of rebills which will help once my PSW checks slow down to a dribble of backup mastercard transactions.

Verotel's webmaster interface is *very* compehensive, you can do just about everything except send in your contract. :thumbsup Their join form is a little clumsy though - if you select another country besides USA in the drop down box, it reloads. After you select the payment method, it reloads again, and then you get to enter your card details.

I'm more concerned about Visa clamping down further. In the long run I think incorporating is probably a good idea - or go into partnership with a real resident of the USA or EU. :)