Could This Be True?????
 

Interesting read....

http://********.com/welcome.php

The Grand Vizier writes: I think something really big is about to be rolled out into the adult industry and the online gambling industry.

A new billing company is preparing to roll out for both industries, from what I could overhear it may just change everything and allow for the next big boom in porn. It's being implemented in Casinos first and online gambling, then to our industry.

Goes something like this as it applies to Membership Sites (ie: high-risk accounts).

1) Instead of paying 13% for a gateway company to process transaction for you, you pay 9%.

2) Instead of having 3% to 5% taken as a 6 month holdback, 0% gets held back

3) Instead of waiting 7 to 10 days for your account to reconcile and get paid by the billing company, you get paid in 2 seconds.

4) Instead of paying $1500 for Visa/MC signup and yearly renewals, you pay $0

5) If you're a large company that has your own software engineers or IT dept, you get the source code and can manipulate the rollout of the platform any way you want

6) If you're a small to midsize company, they will install it for you

7) Incentive for customers to use this method of payment? ANONYMITY & SIMPLICITY!!

8) Instead of a signup page where they plug in all their personal details, they type in a 6 digit code and payment is made

9) Recurring billings? YES

10) Fraud protection? BUILT IN AND GUARANTEED

11) Setup costs? ZERO

12) Program owners get paid by an unknown no name company? NO, HOW ABOUT A TOP US BANK

13) No one holds your money, the second a transaction occurs, the money is credited to your account and you can take it!

14) This gives site owners the ability to basically become their own bank!!!!!!!!!!!!

15) Affiliate are going to be the next ones to benefit from this...... affiliates will get their money AT THE SAME TIME AS VENDORS NOW

That's what I know so far. I'm sure as it gets closer and closer... we'll hear more and more.

Interesting read. Sounds like a step closer towards micro payments.

I think it could :2 cents:

I've heard the same thing over and over again. Neteller, Citadel, usemybank, swiftbanx, wepromisetheworldthenholdyourcashhostage.

I've heard it all before too, so ya I'm with ya on that. But the guy kept reiterating that the transaction goes from customer / clearing bank / vendor... no 3rd party biller holding funds. I swear if this is the real deal, things may change! Imaging saving 5%, no holds and get your money in real time, not in 10 days.

That would certainly make life easier but will it happen?

hmmm, interesting

Couldn't agree more.

Don't forget all the companies with three letter acronyms that came up and went away just as quickly. It is difficult to transact visa cards in this space and anyone willing to do it at such a cheap rate either 1) doesn't understand the difficulties in the space 2) hasn't researched what a charge back will cost them 3) has no idea the wave of charge back that will come to them after 6 months.

If it is real great. They will need to prove themselves over time.