Quote:
|
Hey, if anyone wants to buy Globill, the Utah bankruptcy court sent me notice that it is going for $2,500. Which is a hell of a lot less than they owe me, much less all of the people who processed through them or promoted Globill sites. SpookyCash paid affiliates out of pocket, but that definitely sucked for development of everything else at the time. It definitely sucked to Globill vaporize the way they did. Adult internet can be a high margin business, but it is a very unstable one. I hope iBill pulls through because having more billers is a good thing for all of us. I think there is still a chance iBill will pull through because (a) they have been around for so long and (b) they are bothering to communicate with webmasters instead of just locking the doors and skipping to St. Kitts.
|
Unless there are tangible/sellable assets worth more than $2500 - the name Globill is not a desireable one :-)
I'm the same as you on iBill - or any processor - last thing we want is less processors, - forgetting anything about competition between processors.
Tho, who knows, but I smell the end of the day for what is known as "third party processing". This is a horrible biz to be involved in where efforts to build a business are rarely in your hands, but involve the fickle whims of banks and card companies who can adopt policies with each breakfast and have major implications for your business. That's not a real business :-)
Merchant account processing is little different on the bottom line.
Just looking towards a totally fresh model for payment processing which holds card companies at arms length and banks you can sue/close if they cannot produce client funds on a due date :-)