Paysystems

rdlynch · Aug 17, 2004

Just to let folks know.

The following was sent out last week to all paysystems.com merchants.

Subject: IMPORTANT NOTICE : myPaySystems Forced to Terminate its Internet Billing Account (IBA) Services Effective Immediately

Dear myPaySystems merchant,

Due to circumstances beyond our control, we must terminate our myPaySystems Internet Billing Account (IBA) services. This unfortunate situation is due in
part to, restrictions imposed by the VISA/MasterCard association on processing of Internet credit card transactions by third party billing companies, and,
our acquirer Pago eTransaction Services GmbH/Deutsche Bank, suspending our accounts and accelerating the termination of our IBA processing capabilities.

All merchants currently processing through an IBA will no longer be able to process transactions and we are forced to give notice that effective immediately,
August 9, 2004, your myPaySystems IBA Agreement is terminated. Further, as per section 9.3(e), notice is given that all funds must be held pending risk
review of each account. At this time no release schedule is available, as each case attracts its own risk profile. There are also external factors which
require final determination. Once we ascertain the resolution of your risk scenario, your funds may be released in the normal course.

As we valued your business, we pursued all possible alternative processing options for our merchants and had implemented a transition plan to migrate all
of our qualified merchants from a myPaySystems IBA to their own merchant accounts. It was due to the sudden actions of Pago eTransaction Services GmbH/Deutsche
Bank that we were unable to complete the migration. If you continue to require online payment processing services you may contact other payment processors
that provide similar services. Searching for "process credit cards online" in any search engine will provide you with possible alternatives.

At this time PaySystems will only accept written communication concerning this matter, addressed to:

myPaySystems

attn: Legal Department

1500 University Ave., Suite 920

Montreal, Quebec

Canada H3A 3S7

We would like to extend our sincerest apologizes for any inconvenience this may cause to your business. We thank you for your patience and understanding
during this difficult time.
Click to expand...

Paysystems.com is now an authorized reseller for authorize.net.

I would suggest that Paysystems be removed from the list of processors in the program.

Also, 2checkout.com is probably the best alternative to getting a full merchant account.

alex · Aug 27, 2004

thank you for your suggestion!

Paysystems

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alex aMember Pro Customer Staff Member

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