Quote:
Originally posted by BB-Rick
Yes it's YOUR merchant account, and it's your risk, yet it's NOT your merchant account per se...
Yes, you assume the risk, you are the personal guarantor.
According to my rep this morning, you can NOT move the "Merchant account from them to another gateway ( i.e. Netbilling ) you will NOT have access to customer information ( i.e. CC info and other info ) which you WOULD have access too, with a REAL merchant account...
So in essence, you have ALL the risk of a real merchant account, but no benefits of a real merchant account..
The IBill fees are NOT going to change, so you'r estill going to be paying the 15% or whatever high rate you pay, there will STILL be a reserve.
So please tell me where the benefit is... ANYONE who even has basic risk management skills, can see, this is a risky proposition, at best...
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You hit the nail on the head. Pounded it so hard it came out the other end. iBill is pretty much done for unless they can come up with a really good explaination (I never trust their explanations anyway).
What happened to the $750 to be able to process Visa earlier this year? Isn't that a breach of contract, cause it hasn't been a full year yet since that $750 was paid out to take Visa?