IBILL Conference Call - Wednesday 3pm
 

iBill will be holding a client conference call on Wednesday, November 3 at 3pm eastern standard time. The focus of the call will be to address the following:


Payout Schedule for missed payouts

Resumption of normal payout schedule for current transactions

iBill?s processing solutions moving forward


Date: Wednesday, November 3, 2004
Time: 3pm eastern standard time
US Dial In: (866) 793-1340
International Dial In: (703) 639-1311
Passcode: 590397

hopefully we don't hear, next week we will release the payout plans.

Since you've had long enough to pay us, and others.

We'll be there.

Talk and more talk....

The day they deliver is the day they have any credibility.

But.. wishing them the best in their efforts!

Almost time.

1 min to call :helpme

all i get is music while on hold. is it going to start soon?

Is it a open call or can you just sit and listen?

just started: 4 parts

overview
position

Charles Pratt new CEO

END OF CALL WILL MENTION pay outs

interesting???

Please let us inform here ! Can't be on phone but will check here for updates !

Thanks !

gcard? sounds like epassporte...

Why would anyone want to listen to a debtor's tales??

The day iBill pays everyone in full is the day they deserve any time to be listened to.

Do you pander to all your debtors like this?


"Charles Pratt new CEO".... Another change of management. This time aptley and unfortunately named.

Ibill says they will be here for a long time, they are not going out of Business.

Talking about the G-Card - Debit card.

So they are going after the Debit Card Market.

Ibill will not be a merchant account holder -only a proccessor.

no Fee's for the surfer/customer on the G-card.

6 mo reserves

Payout Nov1-15 payed on dec 1

Past Due = Dec 12 month period
6% interest so if your owed money it will take
as long as 1 year to get paid up - or you can convert the money owed into stock.

12 MONTH payout starting dec 2004 :( for the monies from sept 15th-oct 31st.

any new investment capital not coming to after the 1st of the year.

[email protected]

email now

Ibill says they will be here for a long time, they are not going out of Business.

Talking about the G-Card - Debit card.

So they are going after the Debit Card Market.

Ibill will not be a merchant account holder -only a proccessor.

no Fee's for the surfer/customer on the G-card.

6 mo reserves

Payout Nov1-15 payed on dec 1

Past Due = Dec 12 month period
6% interest so if your owed money it will take
as long as 1 year to get paid up - or you can convert the money owed into stock.

Payouts divided in by 11months starting December.
No one was allowed to ask any questions.

So it seems they are retaining the IPSP model for EU clients. Good news and fine by me.

The only question I would have had is in regards to the status of reserve payouts to EU clients. Are these considered "past due" type amounts now?

iBill will be forced into bankrupcy by the first person who fills for their past due. The monies iBill owes can't be converted into debt legally.

It wasn't iBill money, it was the transactions between account holders and surfers. iBill can't claim this as debt!

What a shitty call, they didn't provide much information..

When are they going to accept visa for new signups?
When will all rebills be run?

No mention of revshare payouts either.

The 12 month program I was prepared for paycom did the same crap.

As far as investing my monies in their stock, they must be smoking crack!

exactly. shop can you email after, i'm seriously tied up right now and not sure what to think

I'm looking into this right now and when it is defined a bit better I will be in touch.

Mickey, they are already accepting visa thru gcard, you need to change your join codes (if you still want to process thru them)
They've started running my rebills yesterday, check your stats, maybe yours too.

I noticed they ran most of the rebills through but not all of them, I guess they're doing it in stages?

As far as the join codes I wasn't aware of the new ones. Thanks for the heads up!

this still sucks that they expect people to go another month without a check. I'd like to see them go without a paycheck for 2 & 1/2 months. :feels-hot

I never turn down a call from someone who owes me money.

Any links to sites that use gkard?

Ok let me see if I understand ! They will pay past due payments on a period of 1 year ! Is it tue ? So if they owe me 12,000$ they will give me 1000$ by month ?

who wants to wait a year for payouts - not to mention reserve payouts, there was no mention of this or about last months rebills being payed out.

Does not look to good.

Hmmm.... the email they provided at the call bounced?!

Carol Cox is using gkard.

Wow i'm impressed !:1orglaugh

Fuck that's stupid .... Would be better to pay all that on a 25 years period hein Ibill ? Anyway we just have to shut the fuck up and wait for money i guess ! Damn I feel like a fucking looser right now . :helpme

What about reservers? When are they being released?

What about checks? What about check reserves?

I didn't hear anything on the call about these....................

Also prior rebills they did not say that they are rebilling them all in teh call, i hope you dont have to sign up for there g-card to get the old rebills processed!

I am changing to ccbill or epoch today.

Missed the call :( but have a question for those that heard it.

So, they are saying that you can convert whats owed to you to Ibill stock, then why could you not just do that, then sell the stock? Am I missing something? Or are they not going to issue you the full amount in stock but give you more shares over the 12 months just like they would be paying you?

Not addressed during the conference call is, what are ibills plans for processing rebills for transactions that were initiated prior to the launch of the gkard?

I have noticed some posts that stated that these rebills were indeed processed, I also saw a posted consumer email (below) that seemed to inform consumers that the rebill for their subscription would now be billed through gkard:

"The purpose of this e-mail is to inform you of an important billing change. Previously, your credit card has been charged with the descriptor ibillcs.com for your subscription to an Internet website. Going forward, gkbill will now be the new billing agent."

So, is IBill now processing those previous rebills through gkard, or will only the new transactions, with the consumer initiating and agreeing to be billed through gkard, be included???

Who wants to wait a year ask the Globil people . lol You people are a trip ,they are making things right and paying 6% interest and you bitch. That payout includes all monies owed so that would include reserves.

tony, the interest is a kind, but token gesture.

the money is not an investment that you want to risk and recieve interest on, and many people have already written the money as a loss, to get close to the same interest rate as a 30 year (govt backed)tbond on something much riskier, well, before yesterday at least, ibill was though to be hanging on a more precarious thread than our govt

as we are on good terms now, can you have your buddies at ibill respond to my previous post pleae?

Conference Call Highlights posted on CMI:

Thank you for joining today?s call. For your convenience, highlights have been posted below.

PROCESSING SOLUTIONS

iBill Direct:

This program places clients on a direct domestic merchant account that is backed by a cross corporate guaranty from iBill

Placement is also based on clients utilizing iBill?s consumer protection technology (pay page management, risk management, customer service)
Specific benefits to the Webmaster include:
Daily and direct settlement by the bank
Elimination of rolling reserve, 6 month hold with quarterly reserve analysis
Elimination of MasterCard portal

Fraud parameters and new functionality configured by client versus at IPSP level
Our first direct accounts are up and running
iBill EU:
iBill continues to have a strong processing relationships in the EU and will continue to operate as an IPSP in that market

iBill EU clients will also be able to take advantage of the gkard program as a standalone or in tandem with their EU credit card processing.
gkard:
A new payment solution for domestic and international clients
iBill has partnered with gkard an existing pre-paid stored value program
gkard has been in place for 2 years and is currently accepted in 130 countries
This program enables consumers to load a secure Visa electronic Card through VISA, MasterCard and Greendot loading stations (Greendot coming soon).
The gkard is configured for one time sign-ups and rebills
Consumer experience for sign-up is no different from the current iBill sign-up process
Unlike other stored value solutions, there is no need to front load the card and verify amount
Virtual card automatically fund loads the card from the pre-loaded credit card for rebills
iBill clients and revsharers will also be able to set up gkard accounts and have direct settlement to their gkard account.
gkard eliminates the need for MasterCard portal
We are confident that the gkard is the future of our industry since there are limited avenues for IPSPs domestically

iBill now has access to multiple banks versus a limited few
Ability to develop consumer loyalty programs to increase retention
Webmasters can take advantage of direct one to one marketing to consumers through the issuance of cards
Virtual card has no attached fees for consumers
When physical card roll out and membership programs are launched, competitive fees will be added that our webmasters will participate in.
For consumers that webmasters sign-up, they will benefit from a recurring revenue stream of the participation
Physical gkard will accept ATM and POS transactions
Past Due Payouts:
iBill has always stated that we recognize all past due payments to our clients and our committed to meeting these obligations.
Currently First Data holds approximately $15M
We are not moving forward with any additional litigation with First Data, but are working to develop a release schedule of these funds
We are also working on obtaining additional capital into iBill. While this is in process, we do not expect to see outside funds into iBill until sometime after the first of the year.
Initially-based on potential release of monies from First Data and anticipated outside funding, we had hoped to have all past due amounts addressed by October 31.
Due to a delay in both avenues, we will be moving forward under the following program:
Starting in December, each client will be paid out over a 12 month period for past due amounts from the period of September 15 to October 31. This will include reserves.
Past due amounts will be paid with 6% interest
Promissory notes will be signed by Officers and Board Members of the company
Our goal is to payout much quicker than over a 12 month period
Clients will also have the ability to convert past due amounts into equity of IBD stock at a discount
By early next week, an online form will be available in the iBill Merchant Info area to request the promissory note or IBD equity option
CMI reporting will include statements of past due amounts for all clients to view

We appreciate your continued patience as we work through this transition. We are very confident in our ability to move forward and are excited about the opportunities ahead of us with gkard program. For those that have additional questions regarding the conference call, please email [email protected]. Please include your master account number and account type (iBill EU, gkard, iBill Direct ect) in the email. Your questions will be used to develop a FAQ to be posted on CMI

test, great conference call, thanks for keeping your clients in the loop, got a second to answer the question below? thanks!!

12k is one thing to paid a year I stood to lose possibly 300K.

12 month payments is better than not getting paid at all and having to fight in court without any funds to fund a legal war.

This could happen to anyone I survived by ducking out from others in the past before the storms came several times this time I was on a sinking ship although the fact that I will retain my rebills and get paid on time (atleast they say in writing and verbally) starting in December is good news as well they will catch us up.

I have moved my buisenss to other processors but believe me I dont feel like the ship wont sink with the others I hope not. This could be only a clue as to whats to come.

My advice is dont put your eggs all in one basket balance your sales and spread them out over a few processors over the next few months see where the water settles. This Ibill thing could be only a ripple effect. Everyone is out to cover their own ass so in the end you most likely wont see it coming it will be sudden.