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Paysystems.com What Happened to them?

I recall them being a candian company that did some processing a while back.

Where did they go? Are they running under a diff name now or something?

Thanks

.

They closed down ages ago. Dunno why.

crooks.

Quote:

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OK .... SUPER crooks

Ouch, sorry to hear that, few of the reps inside were wicked nice to work with...

Not Shawn Forrest, the controler ... neither the fucking french owner that tought he was a F1 racecar sensation ....

Didnt commerzbank, or whoever it was, buy them and then got in trouble with MC/VISA for processing RX (probably 50% of all RX was processed by PS back in the day)?

they changed to cyberdock or something

Quote:

Originally Posted by Jamie

they changed to cyberdock or something

don't think so ... I think you aree referring to a possible acquisition of CardSystem by Cybersource...

This is what happened to Paysystems:

Quote:

Dear myPaySystems merchant,

Due to circumstances beyond our control, we must terminate our myPaySystems Internet Billing Account (IBA) services. This unfortunate situation is due in part to, restrictions imposed by the VISA/MasterCard association on processing of Internet credit card transactions by third party billing companies, and, our acquirer Pago eTransaction Services GmbH/Deutsche Bank, suspending our accounts and accelerating the termination of our IBA processing capabilities.

All merchants currently processing through an IBA will no longer be able to process transactions and we are forced to give notice that effective immediately, August 9, 2004, your myPaySystems IBA Agreement is terminated. Further, as per section 9.3(e), notice is given that all funds must be held pending risk review of each account. At this time no release schedule is available, as each case attracts its own risk profile. There are also external factors which require final determination. Once we ascertain the resolution of your risk scenario, your funds may be released in the normal course.

Gone ages ago, lost thier ability to process.

Candian based companies fall under VISA USA regs. Remember a few years ago when VISA USa was charging $750 third-party merchant service fees and shutting down IPSPs (apparently called IBAs now)? They've started going after Canadian co's now. The only ones outside their domain are Visa International IBAs, where third-party fees are supposedly illegal.