EPOCH/Paycom - Responds to inquiries regarding iBi

rand · 09-22-2004

We are being inundated with phone calls, ICQs and emails asking for our comments on today's events in the New York Courts concerning iBill. iBill's lawyers have confirmed that iBill's emergency motion was denied. According to First Data , iBill's account at First Data is closed, and the papers iBill filed with the court state that "iBill is now left without any credit card processor, and it is unable to continue servicing its customers."

Clay Andrews, Joel Hall and I do not take any joy in today's developments. When the news became official, we stopped being a competitor and started thinking about what advice we should give our clients and the Webmaster community.

First, we want to reaffirm our position that every program should have a back-up processing agreement. We have advocated this for years, and we have recommended Jettis or CCBill as a backup to EPOCH/Paycom. Look around at the largest, most successful and historically serious players in our industry. You won't find any of them without an account at EPOCH/Paycom and CCBill. Today's events are proof that being prepared is appropriate in all things - especially this business. When we were informed of First Data's plans to exit this space nine or ten months ago, EPOCH/Paycom moved to another bank and processor months before our First Data agreement ended.

Next, there are rumors about offshore solutions being made available to adult webmasters. It is our strong opinion that Visa will terminate any Sponsored Merchant that has a URL registered with an Internet Payment Service Provider ("IPSP") in the U.S. and also processes offshore. If that happens, those URLs may not be able to process anywhere in the Visa network. Therefore, if any Sponsored Merchant that does business with Paycom (or any of their URLs) is found to be processing through a merchant account or IPSP that authorizes and/or settles transactions outside of a Visa U.S.A. registered high risk merchant bank, we will terminate processing and suspend payments. This must be done to protect our merchant account and our clients. This has been our policy all along.

We have also seen posts about so-called "stand-in processing." Please be careful. "Stand-in" is fine for collecting card data if you are warehousing information, but unless you have a Merchant Account you cannot get a valid authorization, you cannot settle a transaction and you cannot get paid. We urge you to be extremely careful where you send your traffic. It is not smart to send your traffic to a join form that cannot complete your sales in real-time, and possibly not at all.

Everyone here at EPOCH/Paycom is available to answer questions or to help in any way we can. Our switchboard is open 24 hours a day as is our Tech Support group. Please feel free to call on us at any time. We remain dedicated, 100%, to the Adult Webmaster community.

cj · 09-22-2004

>>>Clay Andrews, Joel Hall and I do not take any joy in today's developments. When the news became official, we stopped being a competitor and started thinking about what advice we should give our clients and the Webmaster community.

HAHHAHAHA are you kidding?!?!
the 'rubbing hands together' can be heard all the way down here in australia.

>>Look around at the largest, most successful and historically serious players in our industry. You won't find any of them without an account at EPOCH/Paycom and CCBill.

HAHAHAHHAHAHAHAHA yeah ok

if you say so

remember ibill clients, take every piece of information you are hearing with a grain of salt. the information given to you by a competitor is going to be in their best interests, not yours.

GET YOUR OWN MERCHANT ACCOUNTS.

You will find out that most of the rules are IPSP rules, not visa's.

JFK · 09-22-2004

Quote:

Originally posted by cj@Sep 22 2004, 04:25 PM
>>>Clay Andrews, Joel Hall and I do not take any joy in today's developments. When the news became official, we stopped being a competitor and started thinking about what advice we should give our clients and the Webmaster community.

HAHHAHAHA are you kidding?!?!
the 'rubbing hands together' can be heard all the way down here in australia.

>>Look around at the largest, most successful and historically serious players in our industry. You won't find any of them without an account at EPOCH/Paycom and CCBill.

HAHAHAHHAHAHAHAHA yeah ok if you say so

remember ibill clients, take every piece of information you are hearing with a grain of salt. the information given to you by a competitor is going to be in their best interests, not yours.

GET YOUR OWN MERCHANT ACCOUNTS.

You will find out that most of the rules are IPSP rules, not visa's.

a lot of people can not get their own merch accounts, so perhaps they should take your advice with a grain of salt

Dont forget, any port in a storm..........

StreetRacer · 09-23-2004

JFK is right

Screw spending your money on wise things like proper corporate and billing setup

Money is better spent elsewhere like on a nice vehicle to make your mobile homes driveway look like it has some class to it

cj · 09-23-2004

Quote:

Originally posted by JFK@Sep 22 2004, 08:30 PM
a lot of people can not get their own merch accounts, so perhaps they should take your advice with a grain of salt Dont forget, any port in a storm..........

what is stopping people from getting their own merchant accounts JFK? Enlighten me! There's only an extra page or 2 of paperwork than there is to sign up with an IPSP these days!

how do you think EVERY business in mainstream processes credit cards?

Just because the 3rd party processors tell you its too hard, doesn't mean it is

All I'm saying is use your own brain, not that of the company who NEEDS your business

Rolo · 09-23-2004

Getting a good (as in secure, low cost, high volume) merchant account is not easy - also there is a time factor. The adult merchant account options are less, than 1 year ago, and I think in 1 year there will be less than today, so watch out before putting all egs in a new basket.

gonzo · 09-25-2004

POMPANO BEACH, Fla. — The recent purchaser of payment processor iBill announced Friday that it intends to rescind its purchase of iBill and sister-company Media Billing LLC and delay acquisition in order to keep its company stock listed on the American Stock Exchange.
According to a statement released by Care Concept I Inc., AMEX informed the company on Monday that it intended to de-list and suspend trading on company stock pending a hearing regarding several stock listing eligibility issues. Trading on all Care Concepts' stock was frozen Tuesday.

“It is the company’s clear objective to resolve with the AMEX all issues relating to the iBill acquisition and to permit the continued trading of its stock on the AMEX for the benefit of its shareholders,” stated Gary Spaniak Jr., president of Care Concepts.

Spaniak stated that company stock will probably resume trading Monday morning.

According to a press release, the company does not know whether it will be possible to resolve AMEX’s listing issues, but that Care Concepts will complete the iBill acquisition if the exchange doesn’t sign off on it by Jan. 21, 2005.

Care Concepts originally acquired iBill in August, paying $55 million to Penthouse International in an all-stock deal.

aeon · 09-25-2004

edit - I was wrong...apologies to Mike AI.
For those that read what I said...it was my fuck up for not checking - no one else's. I didn't look at the other threads.

09-22-2004	#1
rand Members Join Date: Nov 2002 Location: Marina del Rey Posts: 91	We are being inundated with phone calls, ICQs and emails asking for our comments on today's events in the New York Courts concerning iBill. iBill's lawyers have confirmed that iBill's emergency motion was denied. According to First Data , iBill's account at First Data is closed, and the papers iBill filed with the court state that "iBill is now left without any credit card processor, and it is unable to continue servicing its customers." Clay Andrews, Joel Hall and I do not take any joy in today's developments. When the news became official, we stopped being a competitor and started thinking about what advice we should give our clients and the Webmaster community. First, we want to reaffirm our position that every program should have a back-up processing agreement. We have advocated this for years, and we have recommended Jettis or CCBill as a backup to EPOCH/Paycom. Look around at the largest, most successful and historically serious players in our industry. You won't find any of them without an account at EPOCH/Paycom and CCBill. Today's events are proof that being prepared is appropriate in all things - especially this business. When we were informed of First Data's plans to exit this space nine or ten months ago, EPOCH/Paycom moved to another bank and processor months before our First Data agreement ended. Next, there are rumors about offshore solutions being made available to adult webmasters. It is our strong opinion that Visa will terminate any Sponsored Merchant that has a URL registered with an Internet Payment Service Provider ("IPSP") in the U.S. and also processes offshore. If that happens, those URLs may not be able to process anywhere in the Visa network. Therefore, if any Sponsored Merchant that does business with Paycom (or any of their URLs) is found to be processing through a merchant account or IPSP that authorizes and/or settles transactions outside of a Visa U.S.A. registered high risk merchant bank, we will terminate processing and suspend payments. This must be done to protect our merchant account and our clients. This has been our policy all along. We have also seen posts about so-called "stand-in processing." Please be careful. "Stand-in" is fine for collecting card data if you are warehousing information, but unless you have a Merchant Account you cannot get a valid authorization, you cannot settle a transaction and you cannot get paid. We urge you to be extremely careful where you send your traffic. It is not smart to send your traffic to a join form that cannot complete your sales in real-time, and possibly not at all. Everyone here at EPOCH/Paycom is available to answer questions or to help in any way we can. Our switchboard is open 24 hours a day as is our Tech Support group. Please feel free to call on us at any time. We remain dedicated, 100%, to the Adult Webmaster community. __________________ --Rand Epoch Paycom Paycom EU

09-23-2004	#6
Rolo Members Join Date: Dec 2002 Location: Six Feet Under Posts: 2,150	Getting a good (as in secure, low cost, high volume) merchant account is not easy - also there is a time factor. The adult merchant account options are less, than 1 year ago, and I think in 1 year there will be less than today, so watch out before putting all egs in a new basket. __________________ "Chaos is the law of nature, order is the dream of man." ~Henry B. Adams (Historian) 1838-1918

09-25-2004	#7
gonzo Fat Fucking Nobody Want to see your own Advertising Here! Join Date: Apr 2003 Location: Atlanta,Ga. Posts: 17,795 Blog Entries: 11	POMPANO BEACH, Fla. — The recent purchaser of payment processor iBill announced Friday that it intends to rescind its purchase of iBill and sister-company Media Billing LLC and delay acquisition in order to keep its company stock listed on the American Stock Exchange. According to a statement released by Care Concept I Inc., AMEX informed the company on Monday that it intended to de-list and suspend trading on company stock pending a hearing regarding several stock listing eligibility issues. Trading on all Care Concepts' stock was frozen Tuesday. “It is the company’s clear objective to resolve with the AMEX all issues relating to the iBill acquisition and to permit the continued trading of its stock on the AMEX for the benefit of its shareholders,” stated Gary Spaniak Jr., president of Care Concepts. Spaniak stated that company stock will probably resume trading Monday morning. According to a press release, the company does not know whether it will be possible to resolve AMEX’s listing issues, but that Care Concepts will complete the iBill acquisition if the exchange doesn’t sign off on it by Jan. 21, 2005. Care Concepts originally acquired iBill in August, paying $55 million to Penthouse International in an all-stock deal. __________________ We are putting the bastards of this world on notice; greed and corruption will always be met with "a voice made of ink and rage." "Never try and be like anyone else" - Hunter S. Thompson "The truth is the truth no matter how you try and package a lie" - Shellee Hale

09-22-2004	#2
cj Members Want to see your own Advertising Here! Join Date: Oct 2002 Location: Down Under Posts: 5,202	>>>Clay Andrews, Joel Hall and I do not take any joy in today's developments. When the news became official, we stopped being a competitor and started thinking about what advice we should give our clients and the Webmaster community. HAHHAHAHA are you kidding?!?! the 'rubbing hands together' can be heard all the way down here in australia. >>Look around at the largest, most successful and historically serious players in our industry. You won't find any of them without an account at EPOCH/Paycom and CCBill. HAHAHAHHAHAHAHAHA yeah ok if you say so remember ibill clients, take every piece of information you are hearing with a grain of salt. the information given to you by a competitor is going to be in their best interests, not yours. GET YOUR OWN MERCHANT ACCOUNTS. You will find out that most of the rules are IPSP rules, not visa's.

09-23-2004	#4
StreetRacer Members Join Date: Aug 2004 Posts: 70	JFK is right Screw spending your money on wise things like proper corporate and billing setup Money is better spent elsewhere like on a nice vehicle to make your mobile homes driveway look like it has some class to it

09-25-2004	#8
aeon Banned Join Date: Dec 2002 Posts: 906	edit - I was wrong...apologies to Mike AI. For those that read what I said...it was my fuck up for not checking - no one else's. I didn't look at the other threads.