New Canadian Visa/Ibill Rules
 

I'm based in Canada and my visa rebills are being processed just fine. I'm also processing
initial visa sales. My initial thought was that Ibill let my account slip through the cracks
somehow. I called Ibill this morning and talked to a rep. He told me that on the 14th Visa
changed it's rules. Basically what he told me was if you have existing visa rebills they will
keep processing. Visa now feels that they want to keep their existing subscribers instead of
cutting them off. They have also taken it a step further and are now allowing initial sales as
well. As long as you have filled out the registration form Ibill will automatically deduct the
$750 fee from your account. The rep I was talking to didn't seem to know all the exact details,
so I will be calling again on monday to talk to my sales rep. If anyone else has any more
information, please post.

Some of the Australian guys have mentioned the same.

Did they get your $750 yet?

I knew it would end up like this. Special decision on the 14th lol.

Well, Im lost for words !
Looks like this may have been the biggest joke of all, afterall.

I guess those that walked away from their rebills and took their new business elsewhere will be smiling now :winkwink:

Also, it was my understanding that only VISA US clients would be charged the $750 at this stage..

neato.

Well.... I have been told two different things from Ibill.

1) That the $750 fee will be waived

2) The $750 fee will be deducted from my account

I'll have to call in on monday and get a straight answer from my sales rep

you probably won't have to pay it. i didn't.

Quiet, are you based out of Canada?

Quiet did you do your application as Canadian?

sort of

nope. did what you did.

It will be hilarious if all that stress and expense was for nothing.

Forget $750 I am sure it cost me $7500.

:feels-hot

tell me about it. what a joke. all that stress... jesus

You do a quarter mil a month. Do you really think they are gonna whack you with $750? Hell no, they'll eat that $750 just so as not to piss you off. Do you think they give a shit about some guy doing a few hundred a week? Again, hell no. Those are the guys that always get screwed in deals like this.

i could be wrong, but i don't think any non-US based companies have had to pay the fee.

those cocksuckers at visa want every penny they can squeeze out of us.

I don't know either quiet but my point is that companies will always treat the big dogs better. The little guy *always* gets screwed. The fact that you didn't have to pay could either indicate that non-US companies don't have to pay it or it could mean that Ibill wants to keep you and is going to eat the $750 to do just that.

believe me, shoplifter and i were doing all the worrying and stressing - about our rebills. not ibill lol.

anyway, it looks like all the bs and hoops we went through may have been completely pointless.

You might think that, but I can tell you for certain that Ibill does not treat or communicate to their bigger clients any better than they do anyone else.

I would have thought that Ibill would provide specific instructions to their larger clients as to how to maintain their accounts at Ibill, but nothing like that happened. Everyone large or small was left to guess what to do and to try to read between the lines. And many have left them.

I previously made a claim that I thought they might lose as much as 50% of their revenues over this whole mess. I wonder if I may have been right, and someone somewhere blinked.

It will be interesting to see what is up with this on Monday.

:glugglug

from Oprano, interesting reading about IBILL.


************************************************** *
have you seen intercepts 10k they filed today, do a search on ibill in it, is interesting. Sure people on Oprano would want to know.

http://biz.yahoo.com/e/021114/icpt10-q.html
************************************************** *

We may have difficulty in complying with a new Visa rule, and the implementation of that rule could materially affect our revenues from Visa transactions.


Visa has implemented a new rule effective November 15, 2002.
This rule identifies iBill as an internet payment service provider, and requires
iBill to register all of its clients as ?sponsored merchants.? A registration
fee will be assessed to iBill for each sponsored merchant, and iBill will in
turn collect a registration fee from the sponsored merchant. If merchants are
unwilling to pay this registration fee and decline to accept Visa credit cards,
our revenues may decline significantly and we may lose customers. In addition,
the geographic location of each sponsored merchant will be disclosed to the
internet consumer. Additionally, we will not be able to acquire transactions on
behalf of foreign sponsored merchants, unless it is from an acquirer within the
sponsored merchant?s region. We are in the process of establishing relationships
with foreign banks to serve as iBill?s acquiring banks. If we fail to comply
with the new Visa rule, Visa may fine our acquiring bank, which will in turn
seek indemnification from us.



hmm.

In the third quarter of 2001 and the first quarter of 2002,
Visa determined that iBill violated its operating rules by having excessive
charge-backs, which resulted in fines. Also, MasterCard is currently reviewing
our charge-back ratios. If MasterCard or Visa determine that our charge-back
percentages exceed their limits, it could result in additional fines or the
termination of our ability to accept credit cards for payment, either of which
would materially adversely affect our financial condition and results of
operations.


very interesting.

In March 2002, MasterCard implemented a new rule that requires
all banks who submit transactions on behalf of a merchant to have a valid
merchant agreement with that merchant. This rule applies whether the card is
presented directly to the merchant or to a third-party payment facilitator, such
as iBill. MasterCard has notified Wachovia Bank, iBill?s acquiring bank for
MasterCard transactions, that it has acquired transactions from merchants
without the required merchant agreements. As a result of this noncompliance,
MasterCard has stated that it will impose assessments on Wachovia Bank in the
amount of $2,500 per day, retroactive to the day that the first noncompliant
transaction was acquired by Wachovia Bank through iBill. The total amount of
this fine to date is approximately $75,000. iBill anticipates that Wachovia Bank
will seek indemnification for this amount. MasterCard has also requested that
Wachovia Bank and iBill submit a plan for compliance with this rule and provide
a listing of all merchants selling goods and services through iBill and the URLs
associated with those merchants. Although iBill intends to submit the required
plan to MasterCard, the failure to submit the plan or the submission of plan
that does meet MasterCard?s requirements will result in additional fines and
could result in the inability of iBill to process MasterCard transactions.

This keeps getting better and better...

"MasterCard has notified Wachovia Bank, iBill?s acquiring bank for
MasterCard transactions, that it has acquired transactions from merchants
without the required merchant agreements. As a result of this noncompliance,
MasterCard has stated that it will impose assessments on Wachovia Bank in the
amount of $2,500 per day, retroactive to the day that the first noncompliant
transaction was acquired by Wachovia Bank through iBill. "

Did you take a look at their charts? I pity the employees that have options there.

There is certainly something up, and it looks like Ibill just can't afford to lose it's clients.

I wonder if Ibill has determined that it is better to take their chances with fines than lose the revenues from foreign webmasters.

We could be sued for patent infringement. In particular, as
described in Part II, Other Information, Item 1, Legal Proceedings below, iBill
is presently defending two patent infringement lawsuits. If all or any portion
of our service were found to infringe a patent and we were unable to obtain a
license, or if a preliminary injunction were issued, we could be required to
restructure our payment system, stop offering our payment product altogether, or
pay substantial damages, which could have a material adverse effect on our
business, prospects, results of operations and financial condition. Even if we
prevail in a lawsuit, litigation can be expensive and can consume substantial
amounts of management time and attention.


Fuck me, if I had stock in that place it would be too late to dump it...

hmm.

no shit.

And the fucking capper :feels-hot

Because some of the transactions we process are for the adult entertainment industry, our reputation with our customers and in the investment community may be harmed and the price of our common stock may decline.

We process transactions for merchants in many different
industries, including the adult entertainment industry. Certain current and
potential customers as well as investors, lenders, and others may be reluctant
or refuse to do business with us, participate in the market for our common
stock, provide financing, or offer related services because we process
transactions for the adult entertainment industry. This may negatively affect
our business, financial results, the price of our common stock or limit our
ability to raise capital in the future.



Get ready to see the big kiss off...

Very interesting.

WHOA this is really messed up. Anybody know if Ccbill, Epoch, or Jettis are still processing the non compliant accounts?

The part that I thought was interesting was how iBill got fined for having excessive chargebacks. With all their transactions and scrubbing, they still couldn't keep their average under the required percentage? Unless of course they puposely went over because they knew the fine wouldn't be very much $$$, but I doubt that.

All:

Visa did not, repeat NOT change the rules. The fees have been paid by Epoch and we have registered our clients, in compliance with Visa Regs. I spoke to Ron Cadwell at CCBill this morning and he represented that he too has paid the registration fees and has filed the required documents registering his clients as well. Garrett Bender represented to me and Ron that iBill was compliant. I have read differently on this and other threads, but I have no reason to believe otherwise.

Whoever told you on the phone that the rules changed on the 14th was on crack. It is simply untrue.

I can assure you all that transaction processing at Epoch is running fine, no change, no problem and we are 100% Visa and MasterCard compliant in every respect.

Chris
CEO EPOCH

I thought this thread was about iBill?

Actually the Australians that I talked to late last week had a very different story. And with the amount of business they do, I can't imagine they'd have any reason to make up stories about IBill basically screwing them over, but since I'm not Australian, I certainly didn't talk to them myself about it.

You should hear what the Autralians had to say about CCbill :1orglaugh

Yes I think Ibill has always treated everyone the same, you phone them up and they give you a different story EVERY FUCKING TIME! I have moved my business off to Paycom/ccbill/psw and I don't think Ibill will be doing all that well in the future unless they work on keeping there big boys happy.

Sammy

Isn't that part of the job description to be a sale rep at Ibill???
When I have to speak to them and get understood, I do a line....:glugglug

lol

Large companies dont get their fees waved.

Platinum Bucks paid the fees to both Epoch and iBill no one offered to pay it for us. or wave it.

They think they process that much they can afford the money, so why should we wave it.

Its True. why should they wave it for us?

they should help the smaller guys.... that will be big as us in a few years

Did anyone call Ibill and find out what is up with this?

Have you noticed the changes in IBills paypages?

It says now: Your purchase will be billed as IBILLCS.com*'somename'

and sometimes, not all the times a second line is also added:

'somename' is located in 'country'