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Originally Posted by acratophorum
Why? There are co-op banks... I don't see how the ownership structure of a corporate entity has any bearing on visa/MC compliance. If CCBill had many owners, would they not be allowed to act as an IPSP?
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CCBill does have multiple owners, however they all have the same last name. CCBill and Paycom (which also has two owners) are legitimate IPSPs who have spent millions of dollars in fees over the years in order to be legitimate. The security audits, the PCI compliance, the multitude of legal and card association compliance is not something that occurs with a $100 payment processing script.
Nor does CCBill or Paycom own any websites. They are not processing for themselves, they are processing on behalf of their clients.
The ownership of accounts is very specific to MC and Visa. That's what they have the TMF/Match system for, and they do not allow unregulated aggregating. Meaning that unless you are a properly vetted IPSP, you must establish your own processing account with your own company and you may not process transactions for anyone besides your own sites.