ProBilling.com announced this week that they are no longer processing through Visa and MasterCard. "Due to the increased scrutiny by the credit card associations we feel that we can no longer offer reliable credit card processing as part of our portfolio of services," a company statement announced. "We have decided to withdraw from Visa and MasterCard high risk processing."
ProBilling will no plonger process through MasterCard effective immediately and Visa as of midnight (EST), Tuesday, January 20, 2004.
"All accounts at our acquiring banks remain open and in good standing," continued the statement. "All ProBilling account holder's funds are completely secure; weekly holdbacks and regular payouts will be dispersed as usual. Your account will remain open and accessible at www.probilling.com. All password management functions, consumer and merchant services will be operating as normal.
"This is not the closure of another online processor. This is a business decision made to focus on the future of online processing and we look forward to a long and prosperous business partnership with our valued merchants.
To ease the blow, ProBilling is offering account holders a preferred rate on our ACH processing, which they believe is "the future of online commerce and is the most viable solution for eBusiness transactions."
"As you well know, these have been challenging times for all online credit card processing companies," read the statement. "We have decided to concentrate on our rapidly growing market of alternative payment processing solutions."
Effective as of midnight (EST), Tuesday, January 20, 2004, ProBilling.com will offer SmartCheck at 7 percent and DirectCheck at 10.5 percent, with No NSFs, no reserves, no chargebacks, and instant ProBilling account funding.
Representatives from ProBilling could not be reached for comment.
