Ikobo

koolkat · 2005-03-12, 03:38 PM

Since I am making my site Boobs and Balls pay starting May 1st, I have added on a few payment processor to handle billing. Since starting up I can't justify the $750 fee from ccBill (they are fine for handeling my Mastercard, Discover, JCB, and electronic check transactions).
So I looked at other options and found Ikobo which processes Visa without requiring a large startup or yearly fee. Has anyone else had much luck with them? I figured Visa would be a larger portion of my transactions, but it seems since I started offering pre-memberships on March 1st, the Visa is doing about 1/10th of what Mastercard and electronic checks are doing.
Is this similar to what anyone else has experienced with Ikobo, or is is possible that because it is a service similar to PayPal, people don't want to signup with it?
Thanks for any feedback!

Madison · 2005-03-12, 07:20 PM

As far as I can tell, Ikobo is processing adult in violation of the rules concerning credit card processing for adult sites. This is probably why they lost Mastercard earlier this year. I sent them an email asking about processing adult and I got this amusing reply which seems to indicate that they know perfectly well that they're not allowed to do it:

"After reviewing your website, we have approved the servicing of your account. You can now sign up and setup your account at your convenience. Please be certain to select fine arts as your industry type in your merchant profile and to use non-iKobo or generic buttons on your sites. Also, please do not post the iKobo logo or banners on your website. We look forward to helping you fulfill your merchant processing needs."

King Porn · 2005-03-13, 11:54 PM

Thats damn funny.

RawAlex · 2005-03-14, 02:44 AM

In other words, sign up with us, and your processing will be gone soon... plus Visa will take your site name and such, and you might never get processing again.

Good luck.

Alex

ronnie · 2005-03-14, 08:40 PM

Thats pretty sneaky and risky. Gonna get nabbed sooner or later.

I thought they where NOT instant fund? The surfer had to wait or fax in their info?

ronnie

Special "Ed" · 2005-03-15, 02:05 PM

wow...that's too funny. They're really starving for business there I guess

koolkat · 2005-03-18, 05:52 PM

I'm not sure how they handle this as I had to go through an approval process with them. They are only attributing to about 1% of my transactions (I am guessing because you have to create an account with them like PayPal). However, not wanting to come off of the $750 to start with, there aren't many other options which integrate with the member system I use.
I was surprised by the number of transactions processed by MasterCard through ccBill. I thought VISA would be 100 to 1. What do you get more of, Visa or Mastercard?

Also, it was my understanding that it wasn't Ikobo who Mastercard had a problem with, but their bank, and that is why it has not been resolved yet.

ronnie · 2005-03-18, 06:12 PM

If it is good info, some one just posted on another board, they got a e-mail from them saying they are not processing adult any more.

ronnie

koolkat · 2005-03-20, 10:25 AM

I'd be interested to read that since they processed a transaction for me yesterday and just approved my site at the first of the month. They are a little strange, and I believe they target foreign customers more. I think once I get the $750 I am going to go with Visa on ccBill. I just hate their rates!

mpahlca · 2005-03-20, 01:13 PM

KoolKat look at MerchantBoss from what I hear they are pretty good, but check out their site, not sure if many are using them yet!

ronnie · 2005-03-20, 02:27 PM

Quote:

Originally Posted by koolkat

I'd be interested to read that since they processed a transaction for me yesterday and just approved my site at the first of the month. They are a little strange, and I believe they target foreign customers more. I think once I get the $750 I am going to go with Visa on ccBill. I just hate their rates!

Like I said, I was'nt sure it was good info, just a post I read on another board. I'll PM the link.

ronnie

SirMoby · 2005-03-20, 06:04 PM

Quote:

Originally Posted by Madison

"After reviewing your website, we have approved the servicing of your account. You can now sign up and setup your account at your convenience. Please be certain to select fine arts as your industry type in your merchant profile and to use non-iKobo or generic buttons on your sites. Also, please do not post the iKobo logo or banners on your website. We look forward to helping you fulfill your merchant processing needs."

That is one of the funniest emails I've seen. It would be great to send another asking why they don't want you to use the logo

koolkat · 2005-04-05, 07:31 PM

Well, I guess we don't have to worry about anything from them anymore. I got the following email today:

NOTICE OF TERMINATION OF MERCHANT SERVICES

Please be advised that effective immediately iKobo, Inc.is ceasing to provide processing for merchant services in order to comply with a direct request from VISA International under their processing regulations. This request from VISA has no impact on our person-to-person money transfer product.

Your merchant account has been changed to not allow for new sales and your current funds will be available to you under the existing terms using your iKard. Please update your web site to remove iKobo as a payment provider.

We apologize for the timing of this action.

iKobo, Inc.

2005-03-12, 03:38 PM	#1
koolkat Remember to rebel against the authorities, kids! Join Date: Aug 2003 Location: SC Posts: 401	Ikobo Since I am making my site Boobs and Balls pay starting May 1st, I have added on a few payment processor to handle billing. Since starting up I can't justify the $750 fee from ccBill (they are fine for handeling my Mastercard, Discover, JCB, and electronic check transactions). So I looked at other options and found Ikobo which processes Visa without requiring a large startup or yearly fee. Has anyone else had much luck with them? I figured Visa would be a larger portion of my transactions, but it seems since I started offering pre-memberships on March 1st, the Visa is doing about 1/10th of what Mastercard and electronic checks are doing. Is this similar to what anyone else has experienced with Ikobo, or is is possible that because it is a service similar to PayPal, people don't want to signup with it? Thanks for any feedback! __________________ Harry Beaver's Lodge

2005-03-13, 11:54 PM	#3
King Porn WHO IS FONZY!?! Don't they teach you anything at school? Join Date: Jan 2005 Posts: 48	Thats damn funny. __________________ Submit your site now for free traffic

2005-03-15, 02:05 PM	#6
Special "Ed" Well you know boys, a nuclear reactor is a lot like women. You just have to read the manual and press the right button Join Date: Oct 2003 Location: Lake St. Clair, Michigan Posts: 151	wow...that's too funny. They're really starving for business there I guess __________________ ICQ: 114784140

2005-03-18, 05:52 PM	#7
koolkat Remember to rebel against the authorities, kids! Join Date: Aug 2003 Location: SC Posts: 401	I'm not sure how they handle this as I had to go through an approval process with them. They are only attributing to about 1% of my transactions (I am guessing because you have to create an account with them like PayPal). However, not wanting to come off of the $750 to start with, there aren't many other options which integrate with the member system I use. I was surprised by the number of transactions processed by MasterCard through ccBill. I thought VISA would be 100 to 1. What do you get more of, Visa or Mastercard? Also, it was my understanding that it wasn't Ikobo who Mastercard had a problem with, but their bank, and that is why it has not been resolved yet. __________________ Harry Beaver's Lodge

2005-03-20, 10:25 AM	#9
koolkat Remember to rebel against the authorities, kids! Join Date: Aug 2003 Location: SC Posts: 401	I'd be interested to read that since they processed a transaction for me yesterday and just approved my site at the first of the month. They are a little strange, and I believe they target foreign customers more. I think once I get the $750 I am going to go with Visa on ccBill. I just hate their rates! __________________ Harry Beaver's Lodge

2005-03-12, 07:20 PM	#2
Madison Internet! Is that thing still around? Join Date: Mar 2005 Posts: 2	As far as I can tell, Ikobo is processing adult in violation of the rules concerning credit card processing for adult sites. This is probably why they lost Mastercard earlier this year. I sent them an email asking about processing adult and I got this amusing reply which seems to indicate that they know perfectly well that they're not allowed to do it: "After reviewing your website, we have approved the servicing of your account. You can now sign up and setup your account at your convenience. Please be certain to select fine arts as your industry type in your merchant profile and to use non-iKobo or generic buttons on your sites. Also, please do not post the iKobo logo or banners on your website. We look forward to helping you fulfill your merchant processing needs."

2005-03-14, 02:44 AM	#4
RawAlex Took the hint. Join Date: Mar 2003 Posts: 5,597	In other words, sign up with us, and your processing will be gone soon... plus Visa will take your site name and such, and you might never get processing again. Good luck. Alex

2005-03-14, 08:40 PM	#5
ronnie Wheither you think you can or you think you can't, Your right. Join Date: Jun 2004 Location: midwest Posts: 2,274	Thats pretty sneaky and risky. Gonna get nabbed sooner or later. I thought they where NOT instant fund? The surfer had to wait or fax in their info? ronnie

2005-03-18, 06:12 PM	#8
ronnie Wheither you think you can or you think you can't, Your right. Join Date: Jun 2004 Location: midwest Posts: 2,274	If it is good info, some one just posted on another board, they got a e-mail from them saying they are not processing adult any more. ronnie

2005-03-20, 01:13 PM	#10
mpahlca I'm going to the backseat of my car with the woman I love, and I won't be back for TEN MINUTES Join Date: Apr 2003 Location: Vancouver B.C. Canada Posts: 89	KoolKat look at MerchantBoss from what I hear they are pretty good, but check out their site, not sure if many are using them yet! __________________ michael@twistys.com ICQ: 348682342

2005-04-05, 07:31 PM	#13
koolkat Remember to rebel against the authorities, kids! Join Date: Aug 2003 Location: SC Posts: 401	Well, I guess we don't have to worry about anything from them anymore. I got the following email today: NOTICE OF TERMINATION OF MERCHANT SERVICES Please be advised that effective immediately iKobo, Inc.is ceasing to provide processing for merchant services in order to comply with a direct request from VISA International under their processing regulations. This request from VISA has no impact on our person-to-person money transfer product. Your merchant account has been changed to not allow for new sales and your current funds will be available to you under the existing terms using your iKard. Please update your web site to remove iKobo as a payment provider. We apologize for the timing of this action. iKobo, Inc. __________________ Harry Beaver's Lodge