cardservice no more adult
 

Well - after having a merchant account for some 6 years with card services, they let us know on Monday that as of 27 June, they will no longer be processing for adult.

I spoke to netbilling, and they said they have been looking for a high risk merchant account solution, but that currently - there ain't none.

We're currently proceeding on the basis that come the 27th, we are not going to have a merchant account alternative, but - if anyone knows of a solution for processing (small amount - under 10k), please feel free to email me - codymc AT pacbell.net

In the meantime, we've switched all processing to CCBILL for new signups.

This is a bad fucking sign, speaking generally.

Someone had mentioned to me
http://www.merchantservicesusa.info
You might want to check them out.

No shit. That is huge and painfull news for many :(

We're working on setting up for smaller volume accounts right now. I'll have info real soon.

Is that subscriptions only, or tangibles too?

Anybody know if this is across the board meaning ALL adult clients or just smaller adult proessing clients?

That's huge news if it's really no more adult period.

Initially, First Data Merchant Services made headlines when they announced that they would no longer accept any adult transactions through their network. Since Card Service is owned by First Data, it is no suprise to me that this has happened.

Let me know if there's anything i can do.

hmmm. We were not contacted by cardservice. Our account is still rolling as usual.

WE received notice informally a week ago, formally today. They are also extracting a huge reserve.

Very bad news for any high risk merchant.

not good. i see my beater 350Z disappearing within the course of this thread, not good..

Re: reserve - yep. They're taking 25% of every batch between now and the 27th, to create a reserve. The idea being - this reserve is what will deal with future chargebacks, etc, over the next 6-10 months.

I don't know the answer re: memberships/tangibles.

e-mail me with the volume you're doing and I'll shoot some numbers out in the morning. [email protected]

Email me with the type of adult market you are in. Memebership base, tangible goods, intangible goods, and I'll come up with some options for you.