schilli
10-07-2002, 10:22 AM
I pulled this off the Verotel site....
http://links.verotel.com/cgi-bin/make_link.verotel?verotel_id=9804000000101815
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/make_link.verotel?verotel_id=9804000000101815
http://links.verotel.com/cgi-bin/make_link.verotel?verotel_id=9804000000101815
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/make_link.verotel?verotel_id=9804000000101815