I-bill Down For The Count?

[Mike AI]

http://finance.yahoo.com/q?s=icpt&d=v1



http://biz.yahoo.com/djus/030109/1624000702_1.html


Chief executive John W. Collins blamed the expected earnings shortfall on " poor performance in our merchant division, as well as weakness in our financial institutions division."

The company's iBill operations suffered a large loss of merchant customers after a new credit-card association rule took effect in mid-November, the CEO said.

A number of iBill's web merchants declined to pay a registration fee mandated by the new rule, resulting not only in reduced revenue from InterCept's portion of the registration fee but also lost transaction processing fees from the departed merchants, Mr. Collins said.


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http://biz.yahoo.com/rc/030109/tech_interc..._outlook_2.html


InterCept Chairman and Chief Executive John Collins blamed the shortfall on the poor performance of the company's merchant, or credit card processing, division mostly due to a large loss of merchant customers in its iBill operations following the implementation of a new credit card association rule in mid-November.