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Yes-we read this and other boards every day. Hopefully everyone saw the post last night regarding our payout issues. If you haven't here it is again:
All, I do my best to respond here. Due to the new Visa IPSP rules, iBill implemented a new payout system that paid out to our client's sponsored merchant id vs master account. We attempted our first payout to the sponsored merchant id on 12/15. As you all know-we had technical problems with the payout and several clients received incorrect payouts or no payout at all.
To ensure we had a clean payout on 1/1, we asked all sponsored merchants to verify their payout information. And yes, we asked clients to validate their data on December 24 and that it needed to be done by December 26. I apologize for the two day notice-but this was the only way we could ensure that we would have a clean pay out on 1/1.
We have processed the 1/1 US payout and all clients that validated their payout information by December 26 have been processed for payment. Our International clients that have validated their data will be paid on 1/7.
Because of these issues, for all US clients that have confirmed their payout data we have accelerated the 1/15 payout to 1/8. If you have been unable to confirm your payout data, please contact our client service team or account rep to walk you through the process. If you have not validated your data by 1/6, we will not be able to pay you until the next payout cycle on 2/1.
Sorry to disappoint some of you, but iBill is not going out of business and we have not been hit with a $27M MasterCard fine or any other type of penalty. We apologize again for our payout issues, inconsistent communication, etc. If you haven't been paid and can't wait until the 8th for your payment, please stop by the booth at Internext and we'll cut you a check.
Lastly-I'll try to do a better job resonding on these forums going forward.
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