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Originally Posted by ShowMe69
Good insight...not sure how accurate, but good post
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Originally Posted by beenthereb4
Well as far as I know there is only one company large enough to bail them out and keep them going . No its not based in Utah , but your close . As for settlement dates if it is taken over by the company I am thinking of , settlement dates would be shorter . As for which way this goes I can tell you now those who left and have reserves sitting there can say bye bye to them . The problem moving forward with the name Zombaio is it is tied to stolen money and that will never go away . Here is to hoping someone buys out the business they do have , gets to paying everyone on time and brings back some stability .
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Like I said, it could be 100% wrong, but that was his read on it. And I got a payout today, one.. that's over a month late, and my first in many weeks. But even looking at that I have ACH payouts -- it doesn't come from Zombaio, it comes form some 3rd party that you have to assume doesn't just settling their ACH payments for free. So I don't know there's probably some merit to it.
@beenthereb4 We really know nothing about their financials, a few months ago, after the first "we messed up things will be better in a month" email. Things were better, at least for me, I went from some where between 15-20 payouts missing to, 5 or so behind as of a few weeks ago when I started missing payouts again. I could be, I don't know.. a quarterly interest payment or something came due. Taxes, annual filing fees, who knows. We have to remember Zomabio is really what 4 or 5 guys with an internet connection, not the "international payment processor with offices in 5 cities across 4 countries" they make themselves out to be on their contact form. If they are 40K in the hole, Improved banking deal, better interest rates any of that would go a long way towards making sure there's enough profit, even after paying bills and paying out current merchants to settle back payments to merchants (but I can almost guarantee you if it comes down to current vs former merchants current ones will get paid first) But again this is all just guesses.
And I don't know about changing the name, I was on a thread about Payza a few days ago and 75% of the questions were about Alert Pay. Its the internet age, its much harder to wipe away past deeds with a simple name change. In fact if they did this board would probably be filled with "See look they're thieves just trying to cover their tracks" their best hope is to start paying out on time and consistently. Their rates and the ease to sign up and get set up for people who don't want to pay the Visa and MC fees means there will always be a market for them but they just need to get payments on track, keep them on track.. and let trust build by being consistent. I mean I'm clearly not a Zombaio "hater" like many people on here, but I stopped using them as a primary processor because they aren't consistent. But If they improve their services, they can rebuild.. maybe