- IBill
iBill was an internet billing company, founded in
1997 and known in the early 2000's as a topcredit card transaction aggregator foradult entertainment website s. It was acquired byInterCept in2002 and subsequently purchased byInteractive Brand Development in January of2005 .Problems
Soon after its acquisition by InterCept,
MasterCard fined iBill $5.58 million due to the volume ofchargeback s, while VISA raised the cost of processing adult entertainment transactions. In September2004 , iBill's contract with its upstream credit card processor,First Data expired, leaving it scrambling to find a new processor [http://www.forbes.com/home/ebusiness/2004/09/27/cz_sl_0927ibill.html] . In April2005 the iBill offices in Deerfield, Florida were put up for lease, signalling the closure of at least part of the company. [http://www.businessvoyeur.com/2005-04-28/ibill-offices-for-lease]The iBill URL is now parked on a porn site.
Wikimedia Foundation. 2010.