Saw this article posted on another board and thought it might be of interest to people here! Full article by clicking on the link.

http://www.newyorkdailytimes.com/home.htm?m=ibill

Internet Billing Company
iBill: Sex, Lies, and Credit Cards

Opinion by Lawrence Kiminski
Oregon Herald staff reporter



Portland, Oregon, January 19, 2005

Remember Enron? Fade to black. Now think iBill, that is, Internet Billing Company, the world's largest online credit card processor, and apparently one of the largest purveyors of false promises mixed with alleged criminal theft on a massive scale.

iBill processes online credit card orders for thousands of websites around the world. These are generally small businesses that cannot generally afford to obtain their own merchant account, or businesses operating in a high risk online market, who have hired iBill to process their orders. In return iBill takes up to nearly 20 percent off the top for themselves, plus another 10 percent for reserves, for a whopping 30 percent that iBill removes from the customer. And for what? The process takes only a minute and a third of the gross sale is gone, eaten up by iBill. Okay, that leaves around 70 percent for the small business to operate. Right?

Wow, that is straight to the point and full of information all webmasters should know. Hope they continue to follow up like they say.

Should be interesting to watch. In all honestly I don't know the reputation of that site and whether it's credible or not. I assume it's a NY newspaper site and is legit.

The original op ed was published in the Oregon Herald, this is more like a news service that just reprints things.

There are a lot of strong claims made in the piece, should be interesting to see if IBill does instigate legal action against the paper, since they seem to be itching for it.

Yeah, it certainly doesn't pull any punches. Hope for their sake it's all accurate. cause if it's not.. damn!!

I'm an ibill client. It seems pretty accurate from my perspective. <_<