Another One Bites the Dust

[Dravyk]

Consider this a service of All Of 'Em especially for the Oprano Family ...


FOR IMMEDIATE RELEASE –

As you well know, these have been challenging times for all online credit card processing companies. We have decided to concentrate on our rapidly growing market of alternative payment processing solutions. ACH processing is the future of online commerce and is the most viable solution for eBusiness transactions. As part of our new focus, we are offering our existing account holders a preferred rate on our ACH processing.

Effective Midnight EST Tuesday Jan 20, 2004:

SmartCheck at 7%

DirectCheck at 10.5%, with No NSF's, No reserves, No chargebacks and instant proBilling account funding

Due to the increased scrutiny by the credit card associations we feel that we can no longer offer reliable credit card processing as part of our portfolio of services. We have decided to withdraw from Visa and Mastercard high risk processing according to the following schedule:

MasterCard: Immediately

Visa: Last day of processing Midnight EST Tuesday Jan 20, 2004

All accounts at our acquiring banks remain open and in good standing. All proBilling account holder's FUNDS ARE COMPLETELY SECURE; weekly holdbacks and regular payouts will be dispersed as usual. Your account will remain open and accessible at www.proBilling.com. All password management functions, consumer and merchant services will be operating as normal.

This is NOT the closure of another online processor. This is a business decision made to focus on the future of online processing and we look forward to a long and prosperous business partnership with our valued merchants.

[BradShaw]

R-N bring the down?

[Hooper]

shoulda used quickbuck.

[Winetalk.com]

Originally posted by Hooper@Jan 16 2004, 08:25 PM
shoulda used quickbuck.

Hooper,
great campagne slogan!
;-)))

[Peaches]

Originally posted by Dravyk@Jan 16 2004, 08:52 PM
ACH processing is the future of online commerce and is the most viable solution for eBusiness transactions.

I'm sorry, this was all I got out of the entire post.....

[Carrie]

It was just a few days ago they sent out an email saying they'd be moving payouts back a week; I knew then the bell was tolling but I figured they at least had a month before folding. Damn that was quick.

[Rolo]

If you see smoke comming from a processor, then remember thats is probably because there is a fire, and not because they are lighting cigars with hundred dollar bills

2004 is going to be a interesting year - the processor with last merchant account takes it all

[kath]

Originally posted by Rolo@Jan 17 2004, 09:27 AM
If you see smoke comming from a processor, then remember thats is probably because there is a fire, and not because they are lighting cigars with hundred dollar bills

2004 is going to be a interesting year - the processor with last merchant account takes it all

Well said.