Straight from the Horse's

Vick · 09-30-2004

It's old news but ..... direct from Ibill

September 29, 2004 iBill Clients: Please know that paying our clients is our highest priority. iBill is continuing to negotiate the release of settlement funds being withheld by First Data in order to pay our clients. In addition to our continued negotiations with First Data, we are working on freeing up additional capital to speed up the remittance of past due payments to our clients.

As you all know, we have been working through the difficult issue of transitioning our domestic IPSP business to our new domestic merchant bank at a pace that was faster than what was initially proposed or had been planned. In order to ensure proper compliance for our US sponsored merchants we will not be accepting Visa transactions until each US sponsored merchant has completed their new iBill merchant agreement with our new domestic bank. All US clients will continue to have the ability to offer MasterCard, Discover, JCB, American Express, Online checks, Web 900 and WebPhone. iBill account managers will have agreements available on Friday, October 1st. Planned implementation is scheduled for as early as Friday, October 8th.

To further clarify, iBill EU clients are not affected by this and will continue to process Visa without interruption.

Going forward, iBill will continue to operate under three business models:

1) iBill Direct US. iBill has an agreement with a domestic association-registered party. This involves processing and settling with a domestic bank. In this model, iBill will sponsor and accept the risk on behalf of our clients. Not only will clients have the ability to take advantage of the iBill products and services that they know today – 24X7 customer service, risk management, RevShare affiliate program, and password management – but, they will now be funded directly by the bank and will have the option to be funded daily. We are extremely excited about this program and feel that it puts us steps ahead of our competition.

2) iBill EU. iBill will continue its current processing relationship in the EU. The program services remain the same and will continue to be expanded. We are also moving forward with establishing a direct merchant relationship with our EU processor and bank. This option will be similar to iBill Direct US, which allows for direct funding from the bank.

3) Asia-Pacific Merchant. iBill has established a merchant relationship in the Asia-Pacific region. More details to follow next week.

We appreciate all of the support that our clients have given us over the last few days. We know how serious this matter is to you. Please be assured that everyone here at iBill is working diligently to correct these matters so that we can all return to business as usual.

Sincerely,
Your iBill Team

As previously reported, we have been involved in a dispute with First Data concerning iBill's credit card processing arrangement. First Data has chosen not to continue a business relationship with iBill. Last week, iBill obtained a court order requiring First Data to continue providing services to iBill. Yesterday, however, the Court vacated its order; as a result, for the time being First Data does not have to continue providing credit card processing services to iBill. We are currently evaluating whether to continue to pursue legal action against First Data as a result of First Data's refusal to continue to provide services to iBill. As indicated yesterday, we finalized our move from First Data.

First Data is presently withholding iBill's remittances for the last week which has affected our ability to pay our clients. We are currently in negotiations with First Data seeking a release of these funds so that we can forward payment to our clients. We apologize for the short term business impact this has had and any inconvenience which has resulted. We value and appreciate your continued support. We will continue to keep you informed as to any further developments.

Vick · 09-30-2004

Also if I read this corectly

Quote:

we will not be accepting Visa transactions until each US sponsored merchant has completed their new iBill merchant agreement with our new domestic bank

Will that mean another $350?

Nickatilynx · 09-30-2004

It really does sound like bye bye rebills.

Some people must have been/are hurt hard by this.

Look at the stock tumble....

DrGuile · 09-30-2004

Quote:

Originally posted by Vick@Sep 30 2004, 10:22 AM
All US clients will continue to have the ability to offer MasterCard, Discover, JCB, American Express, Online checks, Web 900 and WebPhone.

AMEX? really?

On adult internet sites?

Rolo · 09-30-2004

Quote:

In order to ensure proper compliance for our US sponsored merchants we will not be accepting Visa transactions until each US sponsored merchant has completed their new iBill merchant agreement with our new domestic bank. All US clients will continue to have the ability to offer MasterCard, Discover, JCB, American Express, Online checks, Web 900 and WebPhone. iBill account managers will have agreements available on Friday, October 1st. Planned implementation is scheduled for as early as Friday, October 8th.

I know webmasters who dropped MasterCard from IBill last time they wanted a blood sample, and since Visa is also gone, then they are left with these 2 cards on their IBill CC pages:

Discover and JCB

I guess the next week will be interesting for them - sorta like how business will be in the doomsday scenario often foretold by doomsayers (no more VISA or MC).

cj · 09-30-2004

just got this email and read it 3 times in case i missed anything the first time ;-/

I've just been looking through some of the rebills i have there ... most have been members for 2+ years at $30 a month!!!! a couple of members had just hit the 4 year mark!

i think its time to email some now ex members with a free tshirt & a new signup url

Vick · 10-01-2004

From the Ibill site

September 30, 2004

The dispute with First Data is currently affecting our ability to pay our clients. We are working to get this issue resolved so that we can resume our regularly scheduled payouts. We will post a daily message on CMI to keep clients up to date on the status of this issue.

We know how serious this matter is to you. Please be assured that everyone here at iBill is working diligently to correct these matters so that we can all return to business as usual.

The next update will be posted tomorrow, Friday October 1, 2004 at 4:00 p.m.

Hmmm, I've checked and no payment is shown scheduled to go out to me
even though is it a small amount of rebills over 3 years old
Hopefully they can get it together

Wouldn't you think they have reserves?????

Rolo · 10-01-2004

No payout today

And from what I hear then IBill are sending new agreements looking like applications for merchant accounts (have not seen them yet)... I wonder if any webmasters will get rejected by their new merhant bank based on those applications (some webmasters are using 3rd party, because of poor credit rating).

The clock is ticking...

Rolo · 10-01-2004

From IBill

Quote:

Payout Summary October 1, 2004

As we’ve previously stated, we are continuing to work through negotiations with First Data.

Early next week, we plan to pay our EU clients first followed by our RevShare affiliates. More information regarding this and the other missed payouts will be posted once it becomes available.

Please be assured we are working diligently to resolve this issue in a timely manner and we appreciate your continued support.

Another update message will be posted on Monday, October 4, 2004 at 1:00 p.m. EST.

iBill US Direct Update

§ Planned implementation is still scheduled for as early as Friday October 8, 2004

§ Your iBill account manager will have agreements available Monday October 4, 2004

Peaches · 10-01-2004

Are the EU clients getting paid as usual?

Edited to add - I realize the post said they are getting paid first but have they been getting paid regularly?

I'm not sure I'm making sense.........

Rolo · 10-01-2004

Quote:

Originally posted by Peaches@Oct 1 2004, 05:37 PM
Are the EU clients getting paid as usual?

Not from what I hear - they were the first not to receive payments, so they are already missing atleast 1 payment, and today US webmasters join them.

cj · 10-01-2004

Quote:

Originally posted by Vick@Oct 1 2004, 10:41 AM
Wouldn't you think they have reserves?????

maybe a year ago, but with the shit that's been going in there lately I doubt they have any capital anywhere to cover anything ...

09-30-2004	#1
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	It's old news but ..... direct from Ibill September 29, 2004 iBill Clients: Please know that paying our clients is our highest priority. iBill is continuing to negotiate the release of settlement funds being withheld by First Data in order to pay our clients. In addition to our continued negotiations with First Data, we are working on freeing up additional capital to speed up the remittance of past due payments to our clients. As you all know, we have been working through the difficult issue of transitioning our domestic IPSP business to our new domestic merchant bank at a pace that was faster than what was initially proposed or had been planned. In order to ensure proper compliance for our US sponsored merchants we will not be accepting Visa transactions until each US sponsored merchant has completed their new iBill merchant agreement with our new domestic bank. All US clients will continue to have the ability to offer MasterCard, Discover, JCB, American Express, Online checks, Web 900 and WebPhone. iBill account managers will have agreements available on Friday, October 1st. Planned implementation is scheduled for as early as Friday, October 8th. To further clarify, iBill EU clients are not affected by this and will continue to process Visa without interruption. Going forward, iBill will continue to operate under three business models: 1) iBill Direct US. iBill has an agreement with a domestic association-registered party. This involves processing and settling with a domestic bank. In this model, iBill will sponsor and accept the risk on behalf of our clients. Not only will clients have the ability to take advantage of the iBill products and services that they know today – 24X7 customer service, risk management, RevShare affiliate program, and password management – but, they will now be funded directly by the bank and will have the option to be funded daily. We are extremely excited about this program and feel that it puts us steps ahead of our competition. 2) iBill EU. iBill will continue its current processing relationship in the EU. The program services remain the same and will continue to be expanded. We are also moving forward with establishing a direct merchant relationship with our EU processor and bank. This option will be similar to iBill Direct US, which allows for direct funding from the bank. 3) Asia-Pacific Merchant. iBill has established a merchant relationship in the Asia-Pacific region. More details to follow next week. We appreciate all of the support that our clients have given us over the last few days. We know how serious this matter is to you. Please be assured that everyone here at iBill is working diligently to correct these matters so that we can all return to business as usual. Sincerely, Your iBill Team As previously reported, we have been involved in a dispute with First Data concerning iBill's credit card processing arrangement. First Data has chosen not to continue a business relationship with iBill. Last week, iBill obtained a court order requiring First Data to continue providing services to iBill. Yesterday, however, the Court vacated its order; as a result, for the time being First Data does not have to continue providing credit card processing services to iBill. We are currently evaluating whether to continue to pursue legal action against First Data as a result of First Data's refusal to continue to provide services to iBill. As indicated yesterday, we finalized our move from First Data. First Data is presently withholding iBill's remittances for the last week which has affected our ability to pay our clients. We are currently in negotiations with First Data seeking a release of these funds so that we can forward payment to our clients. We apologize for the short term business impact this has had and any inconvenience which has resulted. We value and appreciate your continued support. We will continue to keep you informed as to any further developments. __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

10-01-2004	#7
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	From the Ibill site September 30, 2004 The dispute with First Data is currently affecting our ability to pay our clients. We are working to get this issue resolved so that we can resume our regularly scheduled payouts. We will post a daily message on CMI to keep clients up to date on the status of this issue. We know how serious this matter is to you. Please be assured that everyone here at iBill is working diligently to correct these matters so that we can all return to business as usual. The next update will be posted tomorrow, Friday October 1, 2004 at 4:00 p.m. Hmmm, I've checked and no payment is shown scheduled to go out to me even though is it a small amount of rebills over 3 years old Hopefully they can get it together Wouldn't you think they have reserves????? __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

10-01-2004	#8
Rolo Members Join Date: Dec 2002 Location: Six Feet Under Posts: 2,150	No payout today And from what I hear then IBill are sending new agreements looking like applications for merchant accounts (have not seen them yet)... I wonder if any webmasters will get rejected by their new merhant bank based on those applications (some webmasters are using 3rd party, because of poor credit rating). The clock is ticking... __________________ "Chaos is the law of nature, order is the dream of man." ~Henry B. Adams (Historian) 1838-1918

10-01-2004	#10
Peaches Members Want to see your own Advertising Here! Join Date: Oct 2002 Location: Hills of N. GA Posts: 10,823	Are the EU clients getting paid as usual? Edited to add - I realize the post said they are getting paid first but have they been getting paid regularly? I'm not sure I'm making sense......... __________________ Peaches@onlinebeach.com ICQ# 36734533

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09-30-2004	#3
Nickatilynx Banned Want to see your own Advertising Here! Join Date: Oct 2002 Location: Vancouver Canada Posts: 15,115	It really does sound like bye bye rebills. Some people must have been/are hurt hard by this. Look at the stock tumble....

09-30-2004	#6
cj Members Want to see your own Advertising Here! Join Date: Oct 2002 Location: Down Under Posts: 5,202	just got this email and read it 3 times in case i missed anything the first time ;-/ I've just been looking through some of the rebills i have there ... most have been members for 2+ years at $30 a month!!!! a couple of members had just hit the 4 year mark! i think its time to email some now ex members with a free tshirt & a new signup url