YNOT – When third-party biller iBill went belly up in 2006, it left a cadre of online adult entertainment merchants gnashing their teeth and bemoaning the loss of boatloads of unpaid revenue. Three and one-half years later, a new company bearing the same name and employing some of the same folks has vowed to make good on at least some of those debts.In a statement released Saturday, iBill President and Chief Executive Officer Jonas Brown promised to repay all debts to former iBill clients who hold “valid promissory notes.” According to Brown, the new iBill’s board approved such payments, which will begin with the launch of the company’s new payment-processing system, expected to occur April 7.
“I know there are a lot of honest people out there who have waited far too long for this day,” Brown said in the announcement. “I’ve received numerous phone calls from former merchants who lost their sites as well as their only source of income. They were forced to turn to friends and family to pay rent and car payments while they waited on payment from iBill. These people deserve the money they earned, and I’m proud to say we now have a solution to honor those debts.
“Until now, there was no recourse, but earlier today our Board approved payback to all merchants who have a valid iBill promissory note.”
The statement also indicated details about the new iBill 2.0 payment-processing platform will be revealed April 2, including information about “a payback option for former iBill merchants.” The April 2 announcement is expected to offer a tour of “the new iBill.”
The company has scheduled a series of five, 30-minute-long live conferences via WebEx, beginning at 11 a.m. MST April 2. For details and to sign up for one of the sessions, visit this page at iBill’s website.
“This is our way of saying we understand,” Brown said. “It is important that we rebuild our image and establish trust with those who utilize our services. This solution will go a long way toward that goal and benefit all parties involved.”
