A brief interruption from "Gungho!"

;)

a .19% bump and a flat c/b?



Dear Valued Merchant,

At iBill, we are committed to providing our merchants with superior processing services at a competitive value. In a constantly changing environment, we are sometimes required to re-examine our increasing cost infrastructure and adjust our client service fees accordingly. This notification outlines the application of chargeback fees, adjustments to client service fees and the migration to an electronic payout process for our clients.

Chargeback Implementation
iBill believes it is important to work with each and every merchant to monitor and minimize chargeback and refund activity within mandated association compliance guidelines. We do this in a number of ways including fraud protection mechanisms, automated email receipts, online customer service, reporting and 24*7 billing customer service.

At this time, we are implementing a new fee structure allows iBill to more accurately apply chargeback and refund related costs at the merchant level. As an iBill merchant, you benefit from a fee structure that reflects your individual processing costs rather than a fee structure which subsidizes overall chargeback and refund costs across the entire iBill merchant base.

Chargeback Fees

The following fees will apply to all clients of iBill:

A $15.00 flat fee for all credit card chargeback transactions presented against your account for all credit card types (Visa, Master Card, American Express, Discover and JCB). The excess chargeback fee of 2.5% of total credit card sale transaction volume threshold will no longer apply.
Collection of Fees

The collection of fees will appear on your CMI statement in the first payout following May 15th.

Processing Fee Pass-Through

Effective May 15, 2003 iBill service fees will be adjusted by 19 basis points or 0.19%. This increase is strictly a pass-through cost and reflects the rate increase imposed on iBill by our processor. The following matrix outlines the adjusted service fees for iBill merchants beginning May 15, 2003.

Total Revenues for billing period
Service Fee

$0 - $9,999
15.19%

$10,000 - $24,999
14.19%

$25,000 - $49,999
13.19%

$50,000 and above
12.19%


Payout: Check Conversion

iBill understands the importance of accurate and timely payouts to our merchants. In an effort to lead the industry and continue to improve our payout process, iBill is migrating to an electronic payout process. As a leader in the processing industry, iBill will now offer its clients payment by ACH at no charge. Electronic payments eliminate the risks associated with paper-based payments such as lost checks, postal delays and check clearing issues. You will benefit from expedited funds availability and the option to receive payout in your preferred currency.

In order to complete the payout conversion process, please update your banking information in the "merchant information form" online at "https://www.ibill.com/merchantinfo/login/login.cfm?" by May 15, 2003. The migration to electronic payment will take effect on June 1, 2003. iBill clients will not be charged for ACH payout, wire payout will incur an applicable $20 wire fee. Clients will be responsible for additional fees if electronic payments are rejected by their financial institution. iBill clients who prefer to continue receiving a manual check will incur a $5 fee per check.

We appreciate the opportunity to accommodate your processing needs so you can focus on your business. For more information, please contact your iBill account manager or our client service team at 866.424.5557(US) or 954-363-4931(International).

Thank you for your business,

iBill



Last edited by Nickatilynx at Apr 15 2003, 04:34 PM

Appears to me that the inmates are no longer in charge of the asylum and that Perry intends to run the place like a typical corporate structure...

What??? :blink:

I almost fell out of my chair laughing at that line.

Always a good thing....we could all use a little more structure. :yowsa:

Always a good thing....we could all use a little more structure. :yowsa:[/b][/quote]
yeah i'm all for structure

structuring my business right away from ibill!!

now that ibill finally released funds to me after 2 months of bullshit, I should have epoch up and running within the week
:okthumb:

yeah i'm all for structure

structuring my business right away from ibill!!

now that ibill finally released funds to me after 2 months of bullshit, I should have epoch up and running within the week
:okthumb:[/b][/quote]
True...the structure that is good for one (and perhaps a saving grace?) is not always good for others (perhaps the straw that broke the camel's back?). From what I've been reading and I admit I doubt I've read it all - the structure and changes in this case was warranted and definitely needed.

True again...they probably ARE going to lose a lot of clients over this but I think that was probably coming anyway what with people having to fight bullshit for 2 months + to get funds released to them.

Hope all goes better for you @ Epoch...they seem to know their shit. Everything I hear from them impresses the hell out of me. :rokk:

lol- well it's one way to make money. Looks like Ibill is trying to find a niche.

CJ, check out Jettis & their affiliate software Jumbo.

DV

Kath, it has been a big change, i've been with ibill almost exclusively since launch in july 1998 ... haven't changed because i couldn't be bothered up until now ... nothing has happened up until this year that justified changing.

But combining the lack of service since the buyout with the holding of funds and passing on of chargeback fees on excessive % of fraudulent chargebacks, despite that fact that we log all ip addresses and can prove the signups are valid, and MOST IMPORTANTLY ... the fact that ibill's scrub and card rejection rates have lowered my site retention to 20%. I've watched it slide over a 6 month period from 80% to 60% to 40% and now its barely 20%.

I think its as much a reflection of the industry as it is of ibill's inability to move with change - but if epoch has 'the future' figured out before ibill does, its bad luck for ibill!

IBill do allow the most signups on international traffic compare with any other US 3rd party adult processor.

If just other processors would use the same "country" based scrub as IBill...

Actually I have copies of most of the majors dead country list, and Ibill's is no smaller than anyone else's...

Say what you will about Garrett Bender but at the end of the day he did his job -- he was hired to either take IBill public or find someone to buy it on a good deal (for the owners of IBill), and he did exactly that.

I've spoken with their management and they've indicated that they want to stay in the adult space, but with a vastly different business model than the company has run on for the last year or so... personally I hope they can do that, it's never a good thing for adult to lose a processor and even if every client they had left prior to their getting out of adult (had that been their intention) it still would narrow down the choices for the remaining site owners and that is never a good thing.

I saw the comment about inmates running the jail....

Wonder if that is appropriate for IBill?

I truly hope they stabilize. We need as many solid processors in this indistry for the health of the entire industry.

Infact we need more processors!

You are right on the money Michael. The fewer processors the more Visa and MC will have control of the industry.