Another processor goes out of the business.
 

Just off the phone with the people at Webstream and they've had their ability to process pulled on them.

They are in the process of contacting all the merchants now, so heads up if you process through them.

You had better start reading this.

never heard of them, thankfully.

good luck cleaning up the mess.

i am so god damn happy that i told them to gfy after they wanted to limit me to $99 per transaction.

It was only a matter of time.

Not a good one, fortunately most of the bigger orders now go through our merchant account. They had their account pulled. This is why processors need to be double sure they check on everything they process for.

Do you know how many will click on that thread title praying that it will not be the processor they work with that is going down. I know I did.

thank you for the heads up! Totally appreciate it. I will distribute in broker network.

I know I have bought though them, and it much have been from you paul.

Hope you get any money they owe you.

Yeah my heart was in my throat when I clicked into this thread! Not a good feeling when a processor closes shop

Need to shake up a few people that moan when people like CCBILL and Epoch are strict about who they work with. Not a good piece of news for us.

Not looking good and it will not be for a while. If ever. :(

I think it's time for a special offer that's under $180 the CCBILL limit. Or two for those who can pay with Epass and the merchant account.

i remember you posting that (i believe)

always sucks when a processor bites the dust...hopefully they don't pull an ibill & forget the last checks

Saw the message on the weekend when we logged in, no other communication or responses to emails yet :(

Anyone know what's happening with pending payouts?

They told me their bank accounts have been frozen. Seems like it will be a while if ever.

probably the same time it takes MyVirtualCard to pay their debts... :2 cents:

Scary.

Premier Payments Online can help any of you who have lost processing as a result.

[email protected]

How did you find them and start using them? I'm curious because I've never heard of them before.

They process for a lot of more "alternative" niches :winkwink:

They also have a decent shopping cart system for one time downloads (content brokers) and tangibles (DVDs).

Never heard of them, either.

the name is new for me ....

They were recommended to us and excellent. They allowed a lot more than the normal processors. So it seems I'm looking for a new one. :(

I know its easy to say it after its happened....but dont some people learn ?.

Go with a trusted billing corp its your money but dont always put greed first,just because it sounds more flexible and a little cheaper does that mean its good?

CCbill and many other billing methods exsist and or go with a merchant account if you can ,but please stop crying when you go with a unknown outfit and it doesnt work out :(

Im not the sharpest tool in the box but I have never lost 1 cent to a billing corp.

Im in Montreal and so was MyVirtualCard ,did I go with them ..it would have been so smooth and easy to do.

NO I didnt :thumbsup

Christina - going with a trusted company doesn't necessarily mean you're protected. In the case of Ibill, for example, they were one of the largest and they fell and a lot of people will agree that they were all far from protected. With that example, those that didn't have any other processor to switch to, not only lost what they were owed, but some 'stuck' around because they had no other option and got burnt further.

The thing with trying other processors/methods is to:
1) keep your eggs spread out
2) diminishes your vulnerability to downtime/scrubbing
3) billing options that aren't offered by the 'well known' guys
4) help maintain your chargebacks/returns
5) the chance that more transactions get through/more countries allowed
6) lower costs

Not everyone looking to lose money - they take the risk, in the hopes of making 'new found' money - if a few years down the line something should happen, hopefully the gain is/was much better than the potential loss (which unfortunately, isn't always the case).

Please let us know if we can help any of you. We have been in business since 1998 and surely not going anywhere.

Mitch

never delt with them..

The best piece of advice is not to put all of your eggs in one basket. Nicely said Trixxxia :-)

Sorry to hear that Paul:(

I heard iBill is having some trouble too

Another reason to use EPOCH/Paycom!

Yeah, it's a hell of a problem, they are my main processor.

I spoke with them on the phone last night, and they don't expect to process again, and they are afraid that the frozen funds are lost..and we are talking millions...bad shit

I have been with them for more than 4 years and never had any problems, now I have to seach the market for a new one..and who can you trust ?

the problem that most of you don't understand is:

if you run a contentshop you are massively limited in billing options

you can't use CCBill or Paycom because they do not allow larger transactions than maybe $150 or $200 at once, and for a merchant account you need to do $50,000 per month. and how many contentshops do that??? maybe 2 or 3

so please stop pretending to be smarter than us who have to live with this problem to keep our business up for those of you who need to buy content and want the freedom of paying with your credit card.

thank you

Wow kinda harsh Christina. You ever hear of websitebilling? Globill? iBill?

never heard of them

*vermin*

www.nevest.net
We just have not been notified. They just stole our money, not even warning that the stop work. The answers are still not. Where to find the billing system for the shop? Unfortunately, not all payment systems suitable for our purposes.
Vadim

Thanks mate. Will be doing a little Spam tomorrow to make up for it. LOL

Well said.

Amazing how people are coming in and giving advice without a clue. Or spamming a thread like this.

We have a Merchant account Mitch and you can't get anywhere near the level they give us.

As for the "Go with the established names!!!" It's been said already.

If anyone needs help, please feel free to contact me. L3 Payments is here for you.

Actually, if you are selling content that you are shipping on a DVD, there is no monthly minimum. It is only for downloadable to get a merchant account that has the minimum and if you are in the US, we can now place you for smaller monthly amounts.

i have yet to understand why it is a higher risk when clients download the content right after their purchase compared to me burning a DVD with that content and send it by mail. this makes absolutely no sense at all.

what no one seems to understand is that we are a business to business operation that sells to webmasters - who can download their purchased content right after making their payment.

it has nothing to do with "downloadable content" that is offered to surfers on paysites - but it's being thrown in the same pot. it is stupid, it makes no sense and no one will ever convince me of something different.

and no, we're still not based in the US

but we have found a good solution with www.paysite-cash.biz - everything works like we need it, their rate is reasonable, they offer american express and they pay on time every week.

so - my search is over for now

Here's the reason: http://www.dailymail.co.uk/pages/tex...on=&in_chn_id=
Hard to believe any biller would be so short sighted. We billed one quite big site with them for over 3 years and have been told that all is lost.

I never heard of this company.....

In that article they also mentioned NetCash - anyone know if they're also facing the same issues?

considering ibill was the second biggest processor and they went out of business and fucked a lot of people, I would say that you never lost 1 cent to a billing corp because either A. you never used one, B. you don't make any money, or C. you are extremely lucky, or D. you have only ever used ccbill.


Lots of smart people have lost lots of money to a billing company either from using them for their own sites or by being an affiliate of a company that used them.

If you have been around since 99 or earlier there were 3 big billing companies back then... ccbill, ibill, and drm/web800.

DRM/Web800 went out of business late 99, early 2000. Lots of people got fucked.

Ibill went out of business 2005?, lots of people got fucked.


ccbill is the only one left of the orginal big three. So no matter how smart you are, if you have been around for 10 years or so there is a very good chance you have lost money to a third party biller in the past. And it's not from using smaller unknown companies either, the big ones have gone down just the same as the smaller ones.

Easy enough to say from your position :) I for one will probably never be able to bill with ccbill given my nationality and residence, and I know people with tame, legal content that have a difficult time finding billing as well.

We are in the Czech Republic. You will be working with us?

Congrats to all the winners?