DEERFIELD BEACH, FL – In response to webmaster board-based rumors, 365 Billing this morning posted an official response on GoFuckYourself.com, stating that while its “acquirer is in the process of moving its entire high risk portfolio to a sponsor bank on another BIN,” that move is taking place for “reasons completely unrelated to 365.”The statement, posted by 365 Billing President Mark Smith, comes as a response to rumors that began circulating yesterday, including statements alleging that 365’s U.S.-based merchant acquiring bank had decided to exit the high risk processing space.
While acknowledging that 365’s acquirer is moving its high risk portfolio to a sponsor bank “with whom they have an existing and long-standing relationship,” Smith stated unequivocally that nothing else of substance is changing, and that payments to 365 customers would be issued as scheduled today.
“Simply stated: Our U.S. acquirer will not change,” Smith wrote. “Our U.S. processor will not change. The links we have in place for the physical processing of the transactions will not change. The only thing that is changing is the BIN under which our acquirer is processing. If you are one of our customers and would like more detail on this I would encourage you to call me.”
Noting that “so many billing companies have come and gone over the years has made the entire marketplace understandably sensitive,” Smith stated that he understood this sensitivity, and that 365 “will continue to communicate to the marketplace at the highest levels.”
