iBill
Reportedly Not Paying Out Collections
iBill
Reportedly Not Paying Out Collections
iBill (Internet Billing Company, LLC.) is a provider of turnkey e-commerce solutions for leading businesses around the world which was recently acquired by Penthouse International (OTCBB: PHSL).
iBill, one of the most commonly used online subscription services for adult industry websites, focuses on enabling businesses to market and sell their products over the Internet by utilizing technology that integrates online payment processing, fraud control, affiliate management and financial reporting and tracking.
Since its inception, iBill has successfully processed over $2.0 billion in online subscriptions representing tens of millions of consumer transactions. Thousands of iBill clients have demonstrated that the Internet is an efficient sales distribution channel for products, services, and content. iBill has been cash flow positive for the past five years, according to their online bio (http://www.ibill.com), and has positioned itself as one of the more profitable e-commerce business models born from the dot-com era to date.
But not everyone is jumping for joy. According to Skeeter Kerkove, whose wife Bridgette Kerkove owns BK MAX (http://bkmax.com), iBill owes them for over two months worth of processing that they have yet to pay out on.
“ It’s hard to tell but right now the figure that they owe us looks to be somewhere between $7,000 and $14,000,” claims Skeeter.
When asked why they stopped paying out, Skeeter suggested that they were experiencing bankruptcy issues. When pressed as to how they could be having financial woes when they were recently acquired by Penthouse International, Skeeter had this to say.
“ I don’t know but they are not paying out and they have all of our cash reserves and everything from the past six months.”
Skeeter didn’t hesitate when asked if BK MAX would be looking for new merchant services in the future over the incident.
“ Yes for sure,” claims Skeeter. “ It’s not fair for them to hold on to our money.”
