"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."
Point number one, Ibill expected most webmasters to stay and pay the registration fee. They included their porting in their earnings. WTF are they doing making a profit on a registration fee paid by customers that have made them millions?
Point number two, they should have covered the entire registration fee for at least their reasonably profitable webmasters that have been with them for years. Now because of being greedy corporate scum they not only lost members but revenue from their rebills.
Point number 3, They just lost half of the investment money they had from investors. If these idiots can't pay the webmasters that have been making them money for years do you really think they will be able to with half of their investors money gone?
Point number 4, They are going down.
Point number 5, I would call you blind myself.
Point number 6, See 1-4.
Thats Just My
