Verotel not effected by the Visa thing!

schilli · 10-07-2002, 10:22 AM

I pulled this off the Verotel site....

http://links.verotel.com/cgi-bin/mak...04000000101815

VISA and MasterCard in the United States have introduced new regulations regarding the business practices of third party billers, whereby these companies are classified as an IPSP and their customers need to register as a 'Sponsored Merchant'.
Verotel is located with its main office in Amsterdam, the Netherlands, and acquires its VISA and MasterCard transactions through its banking relationships in five different countries outside the US. In the last couple of days we contacted all the VISA and MasterCard regulators in these countries to see if Verotel was threatened by this IPSP policy. Fortunately this is not the case.

Because Verotel provides its processing services for content subscriptions only, and not for product sales (physical goods), Verotel is classified as a 'TicketMaster', in the same way a company could be classified selling tickets for concerts or shows online.

We do understand that it is in your best interest to continue doing business with customers that wish to pay with VISA and MasterCard. Verotel and its holding company Verza, Inc. has provided processing services since 1998, is financially very stable and plans on continueing to grow.

http://links.verotel.com/cgi-bin/mak...04000000101815

Darin · 10-07-2002, 11:58 AM

Great news, I have been using them for years.

Evil Chris · 10-07-2002, 03:50 PM

I hope you're right... But I think that even the non-US processors are going to have to tow the line somewhere and somehow.
Time will tell how all of this will unfold.

Bruno Dickman · 10-07-2002, 05:35 PM

Is PSWBilling affected by this Visa Deal? I think only CCBill, Ibill and Epoch are affected from what I heard on paysiteowners.com - please let me know!

Take care,

Bruno

Darin · 10-07-2002, 06:17 PM

Bruno, PSW had released this last week. Looks like they may be affected as well.

Visa info here: http://www.pswbilling.com/services/regulations.shtml
Press release here: http://www.pswbilling.com/press/20021004-visa.shtml

twinkley · 10-08-2002, 02:47 PM

I am pretty sure it affects only those doing biz in the US....

Those processors that use VISA USA - international hasnt been affected as far as I know...

twinkley

Bruno Dickman · 10-09-2002, 12:13 AM

thanks for the link Darin

It seems like PSW doesnt require presence in the US to provide processing - thats a relief for me!

Take care,

Bruno

LAJ · 10-10-2002, 05:50 PM

Here's some more info. regarding how the VISA situation can affect webmasters without a presence in the U.S.

http://www.ynotmasters.com/news/ynew...002/page3.html

10-10-2002, 06:22 PM

I'm interested in hearing how it will affect AVS companies. What about all the sites underneath them?

Darin · 10-10-2002, 06:33 PM

Good article here Luke. Some mentions of one of the avs companies.

http://www.avnonline.com/issues/2002...002_lead.shtml

10-10-2002, 06:38 PM

Well that sounds good. Being that we just launched out avs, it was something I was wondering about.