Most have lost their merchant accounts or the companies they were cross selling lost their merchant accounts.
The banks that were issuing the adult merchant accounts are seldom allowing new accounts to be created.
Also the real killer, chargeback VISA ratio is now at 1.5% from 2% for offshore accounts. It is anticipated that it will drop to 1%. That will essentially NUKE 80% of the programs out there.
Industry is about to shrink and I welcome it, so much pollution out there as it stands now.
