"As we are sure you are aware, we have witnessed significant
changes in the High Risk processing Industry over the past year,
but none quite as dramatic as the past six months. Due to the
increased scrutiny of this industry by the credit card associations,
our EU bank just notified us that it has decided to close this
portion of their portfolio as of Friday, November 28, 2003. As a
result, we will no longer be able to process your Visa EU
transactions after that date. For clarification purposes, Jettis'
accounts were in good standing. The bank notified us that their
decision to no longer support the processing activities of adult
IPSP's was widespread and was not aimed solely at Jettis. It is
important to note that this notice has no effect whatsoever on
Jettis clients based in the US."
We were in the middle of applying for EU based merchant
accounts a few months ago when Netbilling, oxbill, glo-bill and a
few others had trouble with accounts. ECB was setting us up
with a major bank which then dropped their "high risk" clients.
This seems to be the same thing that's happening to CCBillEU
(can't find the email just now) and PSWBilling with holdbacks.
I said at the time that if this kind of thing carries on it could be a
worry for non-US webmasters as the only way forward would be
to incorporate in the US and report to the IRS and US gov.
It's a conspiricy threoy still at this time but it could be that this is
part of a larger plan to force all webmasters to process in the US
which then makes them an easy target for the DOJ.
-Ben
changes in the High Risk processing Industry over the past year,
but none quite as dramatic as the past six months. Due to the
increased scrutiny of this industry by the credit card associations,
our EU bank just notified us that it has decided to close this
portion of their portfolio as of Friday, November 28, 2003. As a
result, we will no longer be able to process your Visa EU
transactions after that date. For clarification purposes, Jettis'
accounts were in good standing. The bank notified us that their
decision to no longer support the processing activities of adult
IPSP's was widespread and was not aimed solely at Jettis. It is
important to note that this notice has no effect whatsoever on
Jettis clients based in the US."
We were in the middle of applying for EU based merchant
accounts a few months ago when Netbilling, oxbill, glo-bill and a
few others had trouble with accounts. ECB was setting us up
with a major bank which then dropped their "high risk" clients.
This seems to be the same thing that's happening to CCBillEU
(can't find the email just now) and PSWBilling with holdbacks.
I said at the time that if this kind of thing carries on it could be a
worry for non-US webmasters as the only way forward would be
to incorporate in the US and report to the IRS and US gov.
It's a conspiricy threoy still at this time but it could be that this is
part of a larger plan to force all webmasters to process in the US
which then makes them an easy target for the DOJ.
-Ben
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