myvirtualcard.com and paymonde.com

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Originally Posted by Lee

In the words of Run DMC, they took the money and ran :(

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Wasn't that the Steve Miller Band? I know I'm showing my age here, but ...

Michael

Oh shit, I just read down, xstr8guy said the same thing ... oh well, it helps the post count. Great minds.

one of the big issues, at least with visa u.s., was the individual company's lack of accountability using a third party biller so that rule was changed and is why we are now forced to give more i.d. and more forms.

also if you lose your account or have too many chargebacks through ccbill, you can not use visa through epoch.

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Originally Posted by mistermee

The website owner is in no way affected by the chargebacks -- this effects the 3rd party biller only.

Newest tidbit is that Norton Burah and Howie Cohen, the principals of Paymonde, have fled the country (Canada) with suitcases stuffed with cash. Not sure if this is fact or wishful fiction, but I wouldn't be surprised given the level of the disaster.

People have lost lots and lots of money and, to make matters worse, have little or no way to communicate with their rebilling members. Happily, we kept all that information in a database so we could email both past and present members.

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Originally Posted by Lee

If you get over 1% of chargebacks, in three consecutive months, Visa can refuse to process for your company, for life.

Id say that puts some responsibility on the site owner myself ;)

Regards,

Lee

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I think that's predicated on your being a client of an IPSP (i.e, CCBill/Paycom/Verotel). I'm not sure Paymonde was an actual IPSP, I thought it was more like 2checkout.com, where you didn't really have to go through much of a signup procedure in order to process with them, and there was no Visa registration procedure. If that's the case, then I doubt the chargebacks would have any effect on anyone other than Paymonde.

they owe me over 6 thousand :( i hope someday i get it

I think you'll find that these guys come back under yet another name in a few months. As I recall they used to go under a different name. But they always have the same methods and same site designs...

Not good news for paymonde merchants. This is from their Merchants page:

"Dear PayMonde Merchants,

PayMonde is going out of business. We'd first like to assure you that we are currently working with our processor to ensure that we receive your money in order to pay you out. Unfortunately, there will be some delays, but we are working to resolve this as quickly as possible. We'd like to take this moment to thank you for your patience, to thank you for your support throughout the years, and to wish you luck and fortune in the future.

The Management"

https://www.paymonde.com/Merchants/

Dave

What ive seen theyve lied, lied and lied some more. I feel shit for the merchants, you work hard to build a business and these gimps cut and run with all your hard work.

I hope you all get your cash. I have a feeling some people had their hands in the cash registers though :embarassed:

:fucked:

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Originally Posted by marcjacob

What ive seen theyve lied, lied and lied some more. I feel shit for the merchants, you work hard to build a business and these gimps cut and run with all your hard work.

I hope you all get your cash. I have a feeling some people had their hands in the cash registers though :embarassed:

:fucked:

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Every processor that has closed in the last 4-5 years has done exactly the same thing, why Paymonde would be any different i dont know.

Regards,

Lee

Having spoken with Howard in-depth about Paymonde shutting down, and having interviewed him several times for AVN Online, I feel pretty safe in saying that he is not the kind of guy to take the money and run.

The threads on the GFY board are putrid. Everyone talks as if this was planned from the start.

People don't usually set out to swindle people. It's not like Paymonde's bank losing its acquisition rights is something that Paymonde could have controlled. OK, so they weren't totally upfront toward the end. It happens. Bill Clinton didn't tell the truth about his blowjob in the beginning either. Oh well. My feeling is that they were hoping for some kind of resolution to keep them from going out of business, and were trying to hold off clients until they knew for sure.

I also know that for most of their time in business, Paymonde actually paid out a week in advance of their due dates. They treated their customers pretty well.

I just think it's so funny how everybody always wants to assume the worst of others so damned quickly. I think that actually says something pretty profoundly telling about the people doing the assuming, rather than the company going out of business.

Wasn't MyVirtualCard the ones who had a gigantic booth in Vegas a couple years ago?

Mark