hello :)

last year i had a merchant account with gspay.com, everything was great, they paid on time, and still paying...

i have a 6month holdback to be paid in january, but billing support says that they didnt receive any penny from CNP, so they are unable to pay holdback

anybody heard of that? is it really so that CNP didnt pay holdback reserve to the merchants?

thank you very much

CNP went under and the owe many processors and merchants money. I doubt that any money will be paid out from CNP.

hello :)

last year i had a merchant account with gspay.com, everything was great, they paid on time, and still paying...

i have a 6month holdback to be paid in january, but billing support says that they didnt receive any penny from CNP, so they are unable to pay holdback

anybody heard of that? is it really so that CNP didnt pay holdback reserve to the merchants?

thank you very much




CNP supposed to pay the holdback at the end od last month but as i understand from them they will pay in end of january.

haimhle, can you tell me your sources where you got the information? You may send via PM

Yes, the story is true.

Bankard/CNP went under begin September so we should receive the outstanding balances soon if it is a decent company.

However, I have heard that they also still have many orders in their batches that were never actually processed.

I just hope they pay once the 180 day period has passed, they owe a lot of money to us.

just wondering, what would happen is they still not paying after 180 days?
is there any protection the user can have? or anything the user can do?

Unfortunately not, but as Bankard is the bank behind it you should think that such a reputable company should be easy to sue but they are not.
Let's hope they pay, we hope to hear more about the issue in March.

Untill that time, never ever do business with Philippines companies.

any updates?

any updates?



The payment delayed from january to february but now i don't sure if the will pay at all.

any update on the gspay holdback?

Still have not received any news regarding the payout of funds by Bankard/CNP.
We should have already heard something if they were paying it back, but I think we never hear from them again.

Have you guys gotten paid by gspay.com? I am looking to move to gspay and would like to know if they are a scam.

I doubt gspay is using CNP anymore given that they went down last September, they've probably moved on to another acquiring bank. Right now their payment schedule looks pretty good, and so are their rates, so it's worth throwing a bit of processing volume at.

I'm also interested in PSBill now that I see them on Visa Europe's list of certified service providers.

Where on the list do you see PSBill ?

http://www.visaeurope.com/documents/ais/service_providers.pdf?d=231006

I can not find them ?

Where on the list do you see PSBill ?

http://www.visaeurope.com/documents/ais/service_providers.pdf?d=231006

I can not find them ?

It's listed as Mystique Enterprises, their legal name. You'll notice on the right that the URL is psbill.com.

They cant even get their own registered business... Not a place to recommend at all!

They cant even get their own registered business... Not a place to recommend at all!

Dear hotdog101

Do you have any issues with our company to speak so? The business is registered in Gibraltar the country of many companies and many of them are well-known like 888.com and many others.

Alex,

I was making a statement, For example:

Pago is Pago eTransaction Services GmbH
or
Cardservice is Cardservice International, Inc

You are PSBILL and Mystic what ever it it...

I can make a very long list of processors that have one trading name and another company name. I really dont see what the big deal is?

Its very common for businesses in every trade to have one trade name and the actual company name different........

I'm just saying in the world of business surely its better to work with a company that has a proffesional corporate structure.

Plus they're just another ex-soviet state based business!

Is there any data problem in CNP?

I'm just saying in the world of business surely its better to work with a company that has a proffesional corporate structure.

Plus they're just another ex-soviet state based business!

I find your comments amusing and not very well motivated at all.

"cardexpert" the feeling is neutral sir!
Your comments are also very amusing, From your posts of constant complaints over many different processors would lead me to believe that you are a reseller.

Its amazing that people here do not follow the worlds news. That part of the world is very unstable towards the west and yet you want to put your assests there?

I suggest looking at www.cnn.com (http://www.cnn.com) once in a while.

Your view on international politics is something you yourself have to stand for. I take it that you think that US is "stable" then?

I am very far from being a reseller and I am not very sure how you came to the conclusion that I am "just" a reseller from my previous posts?

I am actually setting up processors directly with acquirers around the world. That means that many of the resellers are actually placing merchants thru processors that are using "my" solutions.

If you see that as being a reseller then so be it........

Let's stay on topic here as we all know that hotdog101 does not like ChronoPay for some apparent and some less apparent reasons, but I do agree with some of the points he has made. I would also never do business with a payment company that has too many ties with Russia, but that's just me.

Any news on the issue regarding CNP/Bankard?
Will they ever release some of the RR they still have or has all the money been spend on fines from Visa/MasterCard?

Miklo, Its not just Chronopray but any processor that has similar ties.

Cardexpert, that’s great you setup processors with acquirers around the world. I'm sure they're professional outfits that are just to busy to do it themselves!

As for being back on topic, a US lawyer will have problems bringing a case forward to a Philippine court however has anyone raised contact with local legal counsel?

Hotdog; You would be very surprised if I would name my clients. Among others there are some of the worlds biggest PSPs so you are actually right in your assumption although you tried to be funny and sarcastic...:-)

Yes you're probably huge, thats why you hang around a webhosting forum to promote your services...

Have I promoted my services....???

Well I refuse to go into any pie throwing contest so I will just let that one slide.

You are never too big or small to see what is going on in the market and to keep your ear to the ground for any developments, problems or other important issues that are ventilated on these forums is a sign of genuine interest of what is going on.

Hotdog101, whatever it is you do I wish you good luck in your business.

Meanwhile I can say that there are very little interest from CNP to release any funds unless there is some kind of legal action against them. Now they are just waiting it out.

However I know that some pretty heavy guys are chasing their money and its not thru any legal action. I also know that some of the inner guys in this mess have armed guards around the clock.

Mystique Enterprises, is actually a Gibraltar based company, they used to run another processor site before, can't remember the name right now, but they did close down in the same time we did apply for an account. I have asked for a personal visit to thier office in Gibraltar and have not received any reply for when this can be done ( only 2hour trip for me ), as we did open a new account with them and I can say that we are not fully confidente in their service and would like to meet them in person...so next question why they dont want to meet?...well maybe they are not 100% legit as we thought....lets se the answers on this board.
only my thoughts..

Proabably a proxy in Gibraltar becuase of the taxation however try Belarus for the real owners.

It could also be just a paper company to set up business in E.U.

Guys, it seems you are too far from the thread topic: gspay.com / cnp worldwide 10% holdback payout :-)

Exacly Miklo, totally agree there.

Okay, back to topic:

Does anyone have inside information if holdback and reserve funds will ever be paid and if so: WHEN? It has already been more than 1 year since they lost their acquiring license and they still owe us around 150k.

Or has everything been paid on Visa/MasterCard fines?

Still off-topic but i heard Mastercard were only able to post a profit during 2006 because of the fines they impose on merchants.

For example; mis-coded pharmacey = 25k fine per merchant. Just imagine if they were running 100 pharmacey merchants.. 100 x 25k = ouch

Oh yes, I am certain that MasterCard makes a lot of money by fining merchants, processors and acquirers due to miscoding and chargeback fines.
Their fines are outrageous and it's about time the payment industry as a whole acts against that.

MasterCard policy changes everyday and they are definitely not the easiest company to work with, especially if you compare them to Visa. Visa does double the transactions, but still only gets half the chargebacks. It's like MasterCard is actively putting through chargebacks just to increase their revenue from penalty fees.

If we could drop MasterCard and accept a card that will be used as much but has much more lenient policies (comparable to Visa), we would do it immediately.

If we could drop mastercard like amex it would be great. Only a few banks in the US issue cards.

I always thought it was a bad move by washington mutal to only offer mastercard and i'm sure once the contract is over they will go back to visa. I've spoken to many there who say they lost a huge amount of customers over it.

Has anyone of you guys received payments from GSPAY recently?

I think everybody already put up a loss on their balance sheets over the CNP debacle. I don't expect to receive this money ever again.

Hi guys,
im looking for a reliable processor which helding the money short time.
doing between 40-50k. Most important for me is that the release of the money will be fast, better 2 weeks and not 4 weeks. when the money is held and released after 4 weeks it means my total volume a month which is about 44k is always held by the processor. i prefer 22k will remain with the processor as a reserve... any advices please contact me by email : shareinffo67@hotmail.com
or by msn messenger : shareinffo67@hotmail.com

i do not care aif the rate is %7 or %9 i want the money to be held short time
(rolling reserve i think nobody will ever get so also do not care only how long the held my money the shortest the better - give me %10 to pay and get the money after 10 days !!! i wll gladly pay the %10)