Billing Facts, Myths and Solutions... Please READ.
Some WM's have found the truth about this VISA ****: And that is that the 3 stooges (IBill/CCbill/Epoch and also WSbilling) want to strong arm us.
The thing is that the world is divided in 6 banking regions, USA, Canada, Latin America& Caribbean, etc...this visa regulations WERE NOT accepted by all the bankinf regions, only the US, now, the 3 stooges have grown comfortably not developing banking relationships with other parts of the world, in other words, they only have US accounts, while other IPSP's do, they didn't do their homework, this is overconfidence.
In other words: The visa **** only applies to USA not the world, other IPSP's have bank relations in other countries and are not affected, read this:
"The new Visa rules in particular are directed against "aggregators" which specifically means companies such as ours in the third-party industry. The new rules are slated to come into effect very shortly within the US. These rules would make the third-party model prohibitively expensive for the industry. It would essentially be rendered impractical. Some billing companies such as Lancelot have decided to shut down rather than continue under the Visa/Mastercard regime.
However, not all regions of the world come under the new rules. The merchant banking industry is broken up into different regions such as North America, Europe, Asia etc. Each region can decide to opt in or opt out. While the US region has opted in, other regions have opted out. GloBill has decided to run its business with reputable banks in the opt-out regions. Not all billing companies have the capital, know how or foresight to set up merchant accounts with these particular banks and that is why I foresee some of these companies going under over the next few months.
With this move, GloBill feels it will emerge as one of the most stable companies in the industry.
It sounds to me like the big 3 (IBill, CCBill, Epoch) are trying to make us believe that this is a Visa International decision that all regions must follow, when in fact it is actually just a Visa USA decision.
Its also very suspicious how they made a joint announcement about this. Why would they do that?
They launched their announcement late this week, with a 4 weeks timeline, trying to make us believe it is an unavoidable fact, because they fear too much to loose all their client base, in fact it is a rumor (coming from an Ibill rep) that they have scramble to open bank accounts in other countries to avoid disaster. Just look now at the payment pages of WSB they now read that they are based in London, UK, when they are based in the USA.
i find the language in the 3 stooges emails too confusing, too much indeed, looks like thay want to hide something in order to get us tied up. i.e. they said:
"Under the new VISA USA regulations,"
OK this is USA
" an IPSP will only be permitted to
register Sponsored Merchants for processing if the Sponsored Merchant has
their corporation based in the same Country as the IPSP's Acquiring Bank for
What country then?, if it is VISA USA then it only takes cares for USA region.
Also pretty much confirmed in threads it is some global ruling - which it is not! Also introduced "countries" into the scenario to basically complicate the issue...
The joint announcement is the "club" giving no relevant notice to allow a smooth transition and causing panic in the hope that their recomendations that everyone open some US corp and get a Tax Code be adopted in a damage limitation exercise to retain their client base.
It is for the utmost importance to spread the word of this finding, we all have to know what kind of **** they are pulling to us, trying to deceive us, strong arm us, so we can stand together and tell them NO, they will be forced to solve the problem themselves, IT IS THEIR PROBLEM, NO OURS.
If we stand together, we can force them to fix it.
SPREAD THIS WORD, SO THEY WILL FIND US UNITED TOGETHER.
Here are some billers that are not affected by this VISA ****: