what is going on with this company they have no more site and don't awnser phone call hope they did not get shut down they owe me lot's of cash lol
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what is going on with this company they have no more site and don't awnser phone call hope they did not get shut down they owe me lot's of cash lol
In the words of Run DMC, they took the money and ran :(
You should have processed through CCBill or Epoch.
This isnt the first company to have done this and it sure as shit wont be the last either.. Unfortunately :(
Regards,
Lee
i've been reading on another board that they are having bank problems. a few people were paid, and others weren't. not many people on that thread seemed to be hearing back from them.
Wasn't that the Steve Miller Band? ;) Either way, we are old. :DQuote:
Originally Posted by Lee
according to google, it's the steve miller band.
does that mean you're older than lee? ;)
Quote:
Originally Posted by Xstr8guy
Run DMC did a copy of it also hehe
I do like the Steve Miller version better though and im not THAT old LOL
Regards,
Lee
I'm older than dirt! :crybaby:Quote:
Originally Posted by basschick
Lee is just a pup compared to me.
Ok, I've been very active on messaging about the Paymonde debacle on GYF and Xbiz and I'll fill you guys in...
About two weeks ago, Paymonde announced that they could not longer bill Mastercards. They offered some lame ass excuse and, when they were caught lying, admitted that their bank was unable to process Mastercards. No problem, they assured webmasters, it will be fixed soon.
At the same time (this was on the 25th October), they mentioned that pay-outs would be delayed. They made their last universal pay-outs a couple of days later and they shut most people up.
Over the last two weeks, they have remained silent about what's happening. They continued to rebill Visas and take new members, but stopped (yes, STOPPED) making payments to their clients (though there are some unsubstantiated reports that they paid a few major clients).
As you can imagine, this set Paymonde's clients off and rightly so. At last count, there were something like 25 threads on GYF and elsewhere, all telling the same sad story about loss of revenue, rebills, etc. Shades of IBILL all over again!!!!
NO-paymonde as they began to be called still made no effort to communicate with its clients. And, of course, they missed several more pay-out dates. Many webmasters began to pull-out of the mess and many more threatened to. Several threatened to do mass cancellations starting today.
Lo and behold, this morning, Paymonde's site disappeared. They pulled the front end and the merchants pages, thereby stopping clients from accessing their accounts and subscriber lists.
Fraud you say? Yeah that and a whole lot more. Dead thievery and a whole bunch of larceny too. At the mo, people are scrambling to pick up the pieces.
For us, we used them as a secondary and so our losses were not horrible (only about 3500 in cash owed and about 120 active rebills). We have written to all past and present members through Paymonde and asked them to rejoin (if they want) through our regular processor (Verotel) and, more importantly, to CHARGEBACK any November or December charges by Paymonde.
I am of the opinion that many other webmasters and site owners are doing pretty much the same thing.
Hard to believe, isn't it, that we can have another major billing company go down after the Ibill debacle, but this is going to keep happening as long as people don't go to jail for these kinds of frauds. I would suggest that you make sure your billing company has in place some kind of system whereby your funds are held securely. As far as I know, only Verotel and Segpay have this kind of system (which I assume is obligatory in the EU).
Do VISA not monitor individual chargebacks? If so telling members to chargeback may not be the best way forward. You dont want it to harm your relationship with VISA. I feel for you though, i would do a similar thing. Why should they keep your money?
As far as I know, the Visa cardmember association doesn't have any monitoring of individual cardholders. That's something handled by the card issuer (the bank) and chargebacks are very heavily regulated by the Fair Credit Billing Act so the banks can't really do much to penalize someone for charging back unless it's obviously fraudulent actions on the part of the cardholder.Quote:
Originally Posted by marcjacob
The other thing is, when an issuing bank sees a bunch of chargebacks going to one merchant (i.e., paymonde), they pretty much freeze everything having to do with that merchant to further reduce the risk. I'm not sure who gets caught holding the bag, whether it's the card issuing bank or the merchant bank, but you can bet there's a procedure in place to limit losses as fast as possible.
As for the comment on Segpey, if I'm not mistaken, those are the former Ibill people that fucked things up in the first place and then absconded... and I think when we looked into it, there were some connections between the supposedly "independent" third party and Segpay so it wasn't really as "segmented" as they wanted you to believe. That and the IBill connection always made me nervous.
Sorry i meant your chargebacks as an individual webmaster. My point was that alot of site owners are telling their members to chargeback but would that make it more difficult to process VISA in the future as they would have had higher ratios.Quote:
Originally Posted by gaybucks_chip
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.
If you get over 1% of chargebacks, in three consecutive months, Visa can refuse to process for your company, for life.Quote:
Originally Posted by mistermee
Id say that puts some responsibility on the site owner myself ;)
Regards,
Lee
Paymonde owes me money as well. Pierre, I'll be in Montreal in December. I will find them and get my money. You're welcome to join me. They need a beat down.
Diesel J.
OMG, you do not want Diesel to show up on your doorstep pissed off!!!!!!!
Wasn't that the Steve Miller Band? I know I'm showing my age here, but ...Quote:
Originally Posted by Lee
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.
Quote:
Originally Posted by mistermee
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.Quote:
Originally Posted by Lee
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:
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.Quote:
Originally Posted by marcjacob
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