PSW billing out of business
 

i hope this ain't true


Due to circumstances beyond our control, PSW Billing has been forced to
cease processing.

This situation has caused great distress for our staff, and of course
for our clients.
We appreciate the continued support and positive feedback from our
concerned friends and collegues as we continue our fight on the legal
front.

PSW will remain in business and continue to fight for clients' funds
for as long as it takes.* All clients will be paid in full as funds are
released by the banks. We will keep you informed in future emails.

Rest assured that any outstanding payouts due to you are currently 100%
intact and have not been fined or assessed in any way. Our lawyers are
working diligently to have all funds released and available for
immediate payout as we receive them. We truly appreciate your patience
in bearing with us while this is being sorted out. We understand the
hardship this has placed on everyone, so please understand that we are
doing everything in our power to get your money to you as quickly as
possible.

As a sign of good faith, PSW has made arrangements for a smooth
transition of your accounts to Jettis, at a deeply discounted rate of
12%. This rate is guaranteed for 6 months from activation. In addition,
Jettis has agreed to maintain the discounted rate of 12% for as long as
your chargeback ratio stays below .75%.

All that is needed from you to take advantage of the 12% rate is to
reply to this email with the URLs you wish to setup. We will facilitate
the transfer of your account to Jettis as quickly and smoothly as
possible.

Again, although we have ceased processing, our remaining staff will be
continuing to 'fight the fight' for this industry, and to retrieve 100%
of your funds.

We hope to have your continued support through these difficult times.

Sincerely,
PSW Billing

[email protected]
- - - - - - - - - - - - - - - - - - - -
Past articles and news items:
http://www.pswbilling.com/news/

lol

go jettis! >:)

Wow, I hate being right.

You'd think they'd have something about it on their site before they send out an email.... right?

CURSE of CECASH. I believe they were using them for a while.

damn what about my $750 visa reg fee

globill didn't. :-)

Didn't this happen a while back?

another one bites the dust

dust in the wind...all we are is dust in the wind...

wasnt it obvious??

:helpme

i betcha that transition means another $750 fee

You got it.

the curse of CE CASH is their member sections.

I thought this was old news..:(

What is disturbing is that this processor required the VISA reg fee. the other billers that dropped didn't require it

psw had a lot of other issues going on...just search the threads on them...

jact you stated this to me back in august i believe. i must come to you to find out my future :winkwink:

I dont understand why the banks are allowed to with old the fees.

Does this mean PSW is transferring a website'sentire processing database to Jettis or just present and future joins?

12% is a good deal but good luck staying at .75

I thought this happend a while ago, don't they owe Darren a couple hundred k or something?

being an ipsp does not make one invincible to bad management.

psw had chargeback problems from what i understand, and they just kept getting worse because they treated most of their clients (ourselves included) like shit.

bottom line is their bank withheld funds. after a long enough time that has a bad effect.

i will also tell you this. billing companies going under is a self fulfilling prophecy. the more you post about a company going under, the more people hesitate to send transactions through. the fewer the transactions, the higher the cb rate.

who's next? :Graucho

This is just an email i got a few hours ago

I uh.. I'd have to say at this point that aint no joke.

OMG! This is truly shocking news!
:1orglaugh

Why am I not surprised? Anybody got word from Jettis on this?

whats the url?

How many times have I said "Get your own merchant account".

Of course, it requires more management .. :2 cents:

I'm surprised it took this long. You can't withhold webmaster money & expect to be getting new business. I'm sure most folks jumped ship when they first noticed their checks were missing some digits.

Amazing how quickly things change.

A year ago lots of people were telling me how great they were.

Then the bad reports started coming in.

Webmasters who are owed money by PSW, please go to:

http://www.network54.com/Hide/Forum/272122