Ibill...will They Remain In Adult?

Winetalk.com · 11-21-2002

ICPT goes up despite the bad news
(about 70% up from the bottom)

is that a sign they be going out from adult processing?

Dianna Vesta · 11-21-2002

yea. Did you read the article Mike posted about stockholder earning and excuses?

I think that IBill has been in trouble for a while and that it's been a slow sinking ship. There are too many signs.

They were sleeping and trying to revamp thier platform and company structure. Then all of a sudden in afew weeks they start releasing new services like crazy.

There are, or were, so many mistakes made in billing. The thing that really pissed me off, and I don't know if they still do it, was that small littled CHECKED box at the bottom of the signup form giving permission to charge the customer a $1.00 as part of a donation to a non-profit. Did anyone else catch that?

I emailed them asking them "what the fuck?" and I never got a reply.

A good friend of mine who worked for Ibill was screwed out of a lot of money (I can't share the details but will invite her to share if you'd like) and has been in court with them for over a year.

Wanna take bets? Ibill files chapter 11 by Fall of 2003- you heard it here.

Peaches · 11-21-2002

Quote:

Originally posted by Dianna Vesta@Nov 21 2002, 12:50 PM
Wanna take bets? Ibill files chapter 11 by Fall of 2003- you heard it here.

Dumb question - if a 3rd party processor goes under, do rebills disappear? Is that what happened with DMR? Would a company in Chapter 11 still pay rebills?

Dianna Vesta · 11-21-2002

hell no. If they file they may be able to collect rebills but there's a whole line of creditors standing in line with judgements. Unless you're in that line you can forget it.

I think CCBill will survive this. I don't know why but I think so. IBill, no way.

Vick · 11-21-2002

Intercept INC 3 month chart lends even more credence to Wig (and I believe Monk) investment strategies of cycle investing

Intercept has an ugly quarterly report http://biz.yahoo.com/e/021114/icpt10-q.html last Thursday and their stock rises

Ibill has problems and will continue to have problems (Dianna, I ranted and raved about the check box and even busted Ibill making fradulent posts to Netpond about the check boxes)
and Intercept seems to be saying they didn't fully know what they were getting when they acquired Ibill

If they do go chapter 11 don't expect to get paid - Not anything you're owed including rebill and reserves and current payments

maybe Intercept will just close them down, I don't really see a lot of assets associated with Ibill but I do see a lot of liability (they have data management challenges, process for adult sites, are having at least $75K in fines passed on to them among other things)- closing is just purely speculation on my part - Ibill could also be sold again - one supposed to be born every minute

A few adult internet companies went back to processing with Ibill and I thought that may keep them afloat for a while .... but it may also have been due to challenges with merchant acounts

Nickatilynx · 11-21-2002

If Ibill went down it would be catastrophic for the industry.Many big affiliate programs process through them including, I believe CE.

We took the advice on this board some time ago and diversified we procewss through many different ones and are constantly adding.

2003 is the year of ass covering....

The company however looks pretty solvent
http://www.nasdaq.com/asp/ExtendFund.asp?m...l&selected=ICPT

Last edited by Nickatilynx at Nov 21 2002, 01:02 PM

Dianna Vesta · 11-21-2002

I agree about ass covering Nick. It will certainly be a shake down.

All I really want is to keep my merchant accounts and processing alive on the four paysites I have. I'm going to keep them updated, provide the same excellent Customer Service we all have and add a few more upselling items. Then I'm going to hang on and wait for this storm to pass.

Hooper · 11-21-2002

so i normally would put this in a seperat thread.. but this seems appropriate.

we have been doin the same thing nick.. we really dont have a "primary" processor anymore, and we dont use ibill at all because i think they are a weak company on the verge of collapse...

problem is that only a few billing companies are classified as ipsp's...

companies like websitebilling *cough*headuptheirasses*cough* and then other companies like acpay aka adult check (which looks like a nice solution imho) are claiming that they are exempt from visa ipsp status for some reason or another... i'd love to diversify even more.. but from what i hear if you get caught processing outside of your country there is a 25,000 fine per instance and a 99% chance that you'll be added to the "terminated sponsored merchant" file.

any thoughts?

Dianna Vesta · 11-21-2002

I pulled from Ibill two years ago because I felt the same thing.

As for AVS's there wasn't any mention of them and I wonder if Visa will soon add them in the mix. I guess in essence they aren't an ipsp, howver they are paying comissions, therefore a reseller. Hmmm this is twisting my brain and I'm getting ahead of myself.

A few years back many of the AVs's counted on laws and regs changing so that it would give their product more foothold.

I won't like and say that I'm thinking about setting up a shit load of directories off a portal site I have and trying Site Pass. I'm just trying to figure out the best way to automate it. I have a shitload of content.

Diversify by creating a new adult pay system that actually gives something back to the consumer.

11-21-2002	#1
Winetalk.com Prostate Examiner I quoff fine wine at corkd.com Join Date: Oct 2002 Location: good 'ole USA Posts: 21,018	ICPT goes up despite the bad news (about 70% up from the bottom) is that a sign they be going out from adult processing? __________________ why dogs sniff each other butts?

11-21-2002	#2
Dianna Vesta Members Join Date: Oct 2002 Location: South Florida Posts: 2,087	yea. Did you read the article Mike posted about stockholder earning and excuses? I think that IBill has been in trouble for a while and that it's been a slow sinking ship. There are too many signs. They were sleeping and trying to revamp thier platform and company structure. Then all of a sudden in afew weeks they start releasing new services like crazy. There are, or were, so many mistakes made in billing. The thing that really pissed me off, and I don't know if they still do it, was that small littled CHECKED box at the bottom of the signup form giving permission to charge the customer a $1.00 as part of a donation to a non-profit. Did anyone else catch that? I emailed them asking them "what the fuck?" and I never got a reply. A good friend of mine who worked for Ibill was screwed out of a lot of money (I can't share the details but will invite her to share if you'd like) and has been in court with them for over a year. Wanna take bets? Ibill files chapter 11 by Fall of 2003- you heard it here. __________________ Live radio and audio downloads have a definite place in marketing and promoting products. Not only will it capture new customers but it is an excellent way to promote new products to existing customers continuing to build good customer relationships. Click here for more info

11-21-2002	#4
Dianna Vesta Members Join Date: Oct 2002 Location: South Florida Posts: 2,087	hell no. If they file they may be able to collect rebills but there's a whole line of creditors standing in line with judgements. Unless you're in that line you can forget it. I think CCBill will survive this. I don't know why but I think so. IBill, no way. __________________ Live radio and audio downloads have a definite place in marketing and promoting products. Not only will it capture new customers but it is an excellent way to promote new products to existing customers continuing to build good customer relationships. Click here for more info

11-21-2002	#5
Vick Celebrating Company's Success with A Beer From Mini Bar Want to see your own Advertising Here! Join Date: Oct 2002 Location: Little South of Sanity Posts: 6,551	Intercept INC 3 month chart lends even more credence to Wig (and I believe Monk) investment strategies of cycle investing Intercept has an ugly quarterly report http://biz.yahoo.com/e/021114/icpt10-q.html last Thursday and their stock rises Ibill has problems and will continue to have problems (Dianna, I ranted and raved about the check box and even busted Ibill making fradulent posts to Netpond about the check boxes) and Intercept seems to be saying they didn't fully know what they were getting when they acquired Ibill If they do go chapter 11 don't expect to get paid - Not anything you're owed including rebill and reserves and current payments maybe Intercept will just close them down, I don't really see a lot of assets associated with Ibill but I do see a lot of liability (they have data management challenges, process for adult sites, are having at least $75K in fines passed on to them among other things)- closing is just purely speculation on my part - Ibill could also be sold again - one supposed to be born every minute A few adult internet companies went back to processing with Ibill and I thought that may keep them afloat for a while .... but it may also have been due to challenges with merchant acounts __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

11-21-2002	#7
Dianna Vesta Members Join Date: Oct 2002 Location: South Florida Posts: 2,087	I agree about ass covering Nick. It will certainly be a shake down. All I really want is to keep my merchant accounts and processing alive on the four paysites I have. I'm going to keep them updated, provide the same excellent Customer Service we all have and add a few more upselling items. Then I'm going to hang on and wait for this storm to pass. __________________ Live radio and audio downloads have a definite place in marketing and promoting products. Not only will it capture new customers but it is an excellent way to promote new products to existing customers continuing to build good customer relationships. Click here for more info

11-21-2002	#6
Nickatilynx Banned Want to see your own Advertising Here! Join Date: Oct 2002 Location: Vancouver Canada Posts: 15,115	If Ibill went down it would be catastrophic for the industry.Many big affiliate programs process through them including, I believe CE. We took the advice on this board some time ago and diversified we procewss through many different ones and are constantly adding. 2003 is the year of ass covering.... The company however looks pretty solvent http://www.nasdaq.com/asp/ExtendFund.asp?m...l&selected=ICPT Last edited by Nickatilynx at Nov 21 2002, 01:02 PM

11-21-2002	#8
Hooper Members Join Date: Oct 2002 Posts: 1,156	so i normally would put this in a seperat thread.. but this seems appropriate. we have been doin the same thing nick.. we really dont have a "primary" processor anymore, and we dont use ibill at all because i think they are a weak company on the verge of collapse... problem is that only a few billing companies are classified as ipsp's... companies like websitebilling coughheaduptheirassescough and then other companies like acpay aka adult check (which looks like a nice solution imho) are claiming that they are exempt from visa ipsp status for some reason or another... i'd love to diversify even more.. but from what i hear if you get caught processing outside of your country there is a 25,000 fine per instance and a 99% chance that you'll be added to the "terminated sponsored merchant" file. any thoughts? __________________ Quickbuck is paying $100 Per trial join.