How much have you lost with Paymonde?
 

Me...$2000
How about you?

me too $2000

if they really go down: $5000

About 3500...plus all my rebills of course.

$1500

:disgust

2,000.00 for me plus $500.00 in reserves, seems like 2000.00 is the lucky number.
Swirlsgirl

The are gone already check their homepages....

$2,591.04 :disgust

$2900 ....

there goes the money....

About $1500. Not to mention rebills.

What the hell am I supposed to tell my customers? Now I can't even go in and cancel their rebills. I saw others talking about getting everyone to do chargebacks... is that the best course of action?

ww.myvir tualcard.com/Merchants/
use this

to much to say but it was all dvd sales, it must suck to have to cancel all the rebills and hope they sign up again. I tried to refund all the transactions and they did refund some of them yesterday. I e-mailed 100's and asked them all to charge back also. Just a big clusterfuck.

Why did people use Paymonde? Was it for products? If you are using them for a paysite, why would you overlook CCbill, and Paycom? I know there has to be a reason, but what is it?

A little over $10,000 including reserves. Im fucking finished!

9359,55 Usd

Shit...some big dollar amounts...I feel sorry for us all.
I wonder what the total figure must look like. Remember this is just one board and what about all the people that don't read boards at all and must be wondering what the fuck is going on. Shit.

Way way more than anyone else here.

they aproved my candid teen site no payment processor else accepted

Ooh thanks.

Yeah, I sold CD/DVD archives, plus I'm Canadian and it was a simple option.

damn that really sucks :(

So they were willing to accept questionable sites that no one else would, and now you are surprised that they are gone?

it was an 18+ site btw

they stoped not because of that.

Hey, there's a lot of stuff that's very legal but companies like CCBill won't process for. Doesn't mean we should stop trying. Doubtful I could even go with CCBill because of some occasional hardcore + bondage.

That makes sense. I had a hard time figuring out why someone would jump over the leaders in the industry to get to paymonde. If they will process more edgy sites than CCbill then that is certainly a legitimate reason in my mind. I would be scared to death that Visa would drop them, if they don't do exactly what CCbill and Paycom do! I wasn't calling anyone stupid for processing with them, I just wondered what the reasons were. Sorry for your losses.

a little over $300, but my account claims that there's only $78 in the reserves... I haven't recieved a transfer to f2g either.

Not as much as you guys, just under 900

Never used them so $0. Sorry about everyone's losses, it really sucks when these things happen!

CCBill won't accept canadians.

Damn! I'm clueless about this and I'm glad!

Already had the Globill and Ibill saga so glad I missed out on this one.

CCBill can't process Visa for Aussies. So Paymonde was always a great alternative for us, Canadians and people with sites that couldn't obtain processing elsewhere...until this.

Like 200 I think not much

Another reason for going with them was there was no yearly visa fee. Fortunately we only lost around $2k plus rebills... should have figured there was no such thing as a free lunch...

I missed $7200
 

i am pissed right now ....:Oh crap

One of many...just one of many!

I was using them to process members that CCBill declined. I'm at $1600 or so lost, plus any rebills.

About $3000... + being offline for a week while we get CCBill in + paying out $1200 from my own pocket to cover the girls' share of that $3000...

Total lost: $4700

Thanks to the original poster. :thumbsup

Paymonde Goes Out of Business
By Steve Javors
Wednesday, November 15, 2006

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MONTREAL ? Third-party payment processor Paymonde has officially gone out of business, CEO Howard Cohen told XBIZ. The company?s demise came after its bank in the Philippines lost acquiring rights to process Mastercard transactions.

?We weren?t left with much of a choice but to go out of business,? Cohen said. ?We have not received payment from the bank, and until we do so, I cannot pay what is owed out of my own pocket. I?m fed up with being beaten up on the webmaster boards. We?re trying to do our best in what is a shitty situation for everyone involved.?

The bank owes Paymonde three weeks of payments and had promised him a settlement Friday, but has still not made good, Cohen said. Cohen could not offer a timetable for webmasters to hear about money owed.

?I want to let everyone know I?m not running away,? Cohen said. ?I?d like to thank all the webmasters that did business with us over five years for their trust and support. I feel terrible for all involved. I?m not a crook. Paymonde is not iBill.?

Cohen promised to evaluate each one of Paymonde?s merchant accounts ?on their own merits.? He said the company is planning to contact every webmaster that is owed money about their financial status, including the amount they are owed.

?What I hate about this whole situation is people on the boards calling me a thief and a scumbag,? Cohen said. ?We tried to take care of all of our clients. I know many of them personally. We were at the shows. We never hid from anybody. We charged lesser percentage [per transaction] than others. And also, everyone should know the big guys like Paycom or CCBill are not immune to this. If their processing gets pulled, how can they pay??

While the Paymonde website is down, Cohen said the company will allow clients into their backend to check on their financial status if they contact him by email.

http://xbiz.com/news_piece.php?id=18162