12-19-2009, 04:23 PM
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Confirmed User
Industry Role:
Join Date: Aug 2003
Location: Vegas and Los Angeles
Posts: 2,122
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Article from Merchant Glossary earlier this year:
Quote:
iBill
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The original iBill left a tangled mess that dates back to losing its merchant account, held by First Data Merchant Services. While the company tried to secure another merchant account holder they allegedly neglected to inform their clients, many of whom were involved in the online adult industry. Hundreds of legal claims emerged and were never properly resolved.
Apparently the iBill trademark was grabbed upon expiration by investors and the iBill.net url purchased from an employee of the original company. The original iBill operated under the url iBill.com. While Brown denies direct ties to the old iBill, he does admit to having spent a few years working for the company before any scandals arose, and a programmer for the new iBill is also known to have previously worked at the old iBill.
The new iBill, spent much of 2008 preparing for launch and began operations in February, with marketing campaigns getting underway in April. The company currently services about 40 mainstream customers and 20 adult websites, using two accounts with an undisclosed European payment processing company. The new iBill offers a five percent per transaction fee with a five percent six-month reserve for a period of six months. It currently only processes Visa and MasterCard, but is negotiating with Discover and JCB to add them to the mix.
Brown says the new iBill is about the long-term and he is hopeful that he can inform the online adult community and have them consider the new company?s offerings.
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__________________
The Only Time When Success Comes Before Work Is In A Dictionary.
Did you ever notice: When you put the 2 words 'The' and 'IRS' together it spells 'Theirs.'
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