Greenguy's Board - Bye Bye iBill

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- - Bye Bye iBill (http://www.greenguysboard.com/board/showthread.php?t=11405)

Geeze.... after all these years of hearing it was shutting down will this be the real thing?

I was having a hell of a time ready those scans.

Someone was nice enough to post the text.

Quote:

IBill, First Data in Contract Dispute
By Gretchen Gallen
Tuesday, September 21, 2004

NEW YORK – Third-party payment processor iBill filed a complaint against First Data Merchant Services Corp. alleging that the company is costing iBill $800,000 per day because it failed to make good on the promise to help transition its accounts to another credit card processor after the expiration of a contract dating back to 1998.
In legal documents obtained by XBiz, iBill contends that it could go out of business by as early as next week if the Court does not issue a temporary restraining order against First Data.

In papers filed in New York Supreme Court, iBill alleges that First Data's failure to fulfill its promise to work with the third-party processor as it moved customer accounts over to New York-based Merrick Bank could cause "irreparable harm" to its business and customer base.

IBill has been using First Data Merchant Service and First Bank Financial, collectively known as First Data, as the processor for its credit card receipts for the past six years. IBill's contract with First Data technically expired on Sept. 15.

The plaintiff, iBill, had expected the transition to be completed by Nov. 15, but now claims that First Data reneged on the promise and put iBill and its business process in jeopardy and could possibly result in iBill's closure.

IBill claims that by noon on Sept. 16, the day after its official contract with First Data expired, the credit card processor would no longer process iBill's credit card transactions, leaving iBill in the lurch and unable to continue to service its customer base of more than 4,000 Internet-based clients.

IBill had been in negotiations with Merrick Bank since mid-August to replace First Data as its processor.

IBill is asking for the court's intervention to maintain status quo and "avoid the catastrophic consequences of First Data's threatened action."

"Any termination by defendants would result in immediate, irreparable harm to plaintiff and its customer bases," the complaint said. "Cancellation of its credit card support arrangements would effectively put plaintiff's customers out of business, depriving them of any ability to function. Absent a temporary restraining order, plaintiff and many of its customers may be forced to close their doors."

Deerfield Beach, Fla.-based iBill, which is short for Internet Billing Company Ltd., is one of the leading third-party credit card processors for the online adult industry. The company is publicly traded on the Nasdaq exchange.

Nearly 78 percent of iBill’s revenues are from adult entertainment content. In 2003, iBill averaged 1.2 million transactions per month and completed approximately $330 million in gross transactions.

In July, Care Concepts I, Inc. agreed to acquire Media Billing LLC and Internet Billing Co., collectively known as iBill, from Penthouse International for $55 million in an all-stock deal.

Representatives for iBill and First Data could not be reached for comment.

I guess they can sell prepaid porn cards right next to the prepaid phone cards now.
http://www.prnewswire.com/news/index...02255384&EDATE

That can't be good. :(

Hmmm.............. I need to switch

I should have switched when they put up that mastercard bullshit last year

It is going to be interesting... I can see where a 60 day gap would be very damaging indeed.

Not sure what is going to happen here.

Who is left?

Alex

Tommy

Is NYW still in operation?

CCBill and Epoch are about the only two that come to mind. I know we have been in the process of adding Epoch to Angel's site just in case CCBill has problems. Nothing seems to move very fast with Epoch.

I use CCBill with Epoch as a secondary. No problems here. |bananna|

Quote:

Originally posted by Tommy
Surfn..... NO!

Thanks...that's what I thought.

Quote:

Originally posted by JenC
I use CCBill with Epoch as a secondary. No problems here. |bananna|

That is exactly what Angel and I want to do.

We have already done all the paperwork and even duplicated the tour so that Epoch could see their tour and are just waiting to hear back from them again.

How hard was it to setup Epoch?

Quote:

Originally posted by Cleo
Nothing seems to move very fast with Epoch.

You noticed aswell ;)

Great processing and decent scrubbing, but maybe they should move a few of those great epassporte support guys over into the Epoch support section :)

Not good;(

but interesting...

Nearly 78 percent of iBill’s revenues are from adult entertainment content. In 2003, iBill averaged 1.2 million transactions per month and completed approximately $330 million in gross transactions

Most "authorities" have always said that Adult biz only accounts for a small percentage of the billing companies business.... 78% aint small....

DD

Quote:

Originally posted by Cleo
That is exactly what Angel and I want to do.

We have already done all the paperwork and even duplicated the tour so that Epoch could see their tour and are just waiting to hear back from them again.

How hard was it to setup Epoch?

The hard part was getting THEM to respond to me. :D

But seriously it was a breeze after they give you the codes.

they had issues before and now they've finally closed down.

Quote:

Originally posted by Cleo
CCBill and Epoch are about the only two that come to mind.

Don't forget about us here on the other side of the ocean.

|waves|

People PLease.....

iBill is not going anywhere. It is obvious that First Data tried to pull the plug on their agreement. iBill had to file the docs that you see posted in this thread. The courts have to be shown that First Data's actions could have serious consequences.
It is crazy how quickly people are to bury someone!
I'd bet my right nut that iBill emerges from this issue, just like they do every time.
'They take a lickin' and Keep on Tickin'
My money is on iBill.

Ibill will survive, although only by the skin of their teeth, and it will cost them a bundle to ensure client confidence.

They've received the injunction that they sought, and have a replacement bank now which will be in place Oct 15. The only real issue now is whether or not the injunction can force the former bank to remain in place throughout the transition.

It's unfortunate to watch anyone in this industry struggle. Nothing good will come to any of us through their demise, and they need our support more than ever....

Is this not the first time I've heard the name First Data in connection with a 3rd party biller going tits up?

I am sure that IBill will stay on, but how many clients they will stay with them. And this is far to be the first problem they encounter in the last three years. :(

Quote:

Originally posted by emmanuelle
Ibill will survive...They've received the injunction that they sought....

http://www.avnonline.com/index.php?P...tent_ID=192882

I'm not one to scream "THE SKY IS FALLING!" but I did talk to one person last night that was helping their friend set up CCBill on their site, as they are removing iBill because of this.

I also got this from one of my sponsors:

To: blamo@concentric.net
Subject: Adult Cashier: CCBILL as primary billing
From: support@adultcashier.com

Hello, Webmaster

We recommend to our masters to put CCBILL as primary billing , until then will not be received explanations from iBill concerning the current problems.
You are able to do it here http://www.adultcashier.com/wm/wm.php?cmd=personal

If you were not registered yet in CCBiLL you can be registered here http://www.adultcashier.com/wm/wm.php?cmd=ccbillpayinfo

Thank you
Support

The only ibill sponsor I use just switched over to ccbill too, I got the email. Thankfully I used an FPA for ALL the galleries I made promoting them and don't have to change anything other than that which I already did.

Too bad as I checked my ibill stats and that measly $200 was starting to grow. This month I was making a new sale more than every second day. Still not any real big money though thankfully. :)