Hi,
I’m using Paysytems as my payment gateway, and since Saturday, Aug 7, 2004, their processing totally down. All credit cards payment declined. They said that they have IT problems.
Anybody experiencing the same issue?
And how you handle this issue?
Beucase I’m loosing money and reputation. 
Thank you in advance.
Being down that long in this industry is horrible. Some businesses literally would fail because of that. As a processor they have a responsibility to be reliable as mandated by Visa and MasterCard. If this was to happen even once to me I would find a new processor immediately as the fact they can’t fix this is a reasonable amount of time would scare the crap out of me.
Were we glad to see another posting on this, as we were beginning to think that we were the onely ones affected.A USA customer failed to pay on Thursday and that started the bells ringing here.Then Friday evening they stopped altogether,please see our earlier Sunday post lower down re: Jacker who we understand works for them.We have lost over £600 GB Pounds $1000 + since Friday,my customers are trying to be polite but I can feel them slipping away now.We have been alarmed to find that PS has not kept us informed of progress,that was all we asked for -something tangible that we can tell our customers.When we asked last in Live chat yesterday, they answered that the reason nothing had been posted was that they knew nothing them selves.I asked them specifically to keep us informed.Our last pay day has not been honoured either,that was supposed to have been released last Thursday but it is still sitting there.I have(HAD!) 7 customers waiting,now I have none.If this has affected all PS where are all the other posts ? we are sufferning here, and our cred which was high is sliding down the ladder!
Surely it must be cheaper for you to go to another provider! I’d have been on the phone to another after the first day. I’m impressed with your loyalty, but this is business. Even PayPal or WorldPay as an interim would be better…
Just got an email saying that PaySystems is closing all IBA accounts… luckily I got my own merchant account a few months ago. This isn’t good news for current users though
I just recieved the same notice. Has anyone any more information on how we are going to get our money - or are we at serious risk of lossing it.
We got this one. How considerate of them.
IMPORTANT NOTICE : myPaySystems Forced to Terminate its Internet Billing Account (IBA) Services Effective Immediately
Dear myPaySystems merchant,
Due to circumstances beyond our control, we must terminate our myPaySystems Internet Billing Account (IBA) services. This unfortunate situation is due in part to, restrictions imposed by the VISA/MasterCard association on processing of Internet credit card transactions by third party billing companies, and, our acquirer Pago eTransaction Services GmbH/Deutsche Bank, suspending our accounts and accelerating the termination of our IBA processing capabilities.
All merchants currently processing through an IBA will no longer be able to process transactions and we are forced to give notice that effective immediately, August 9, 2004, your myPaySystems IBA Agreement is terminated. Further, as per section 9.3(e), notice is given that all funds must be held pending risk review of each account. At this time no release schedule is available, as each case attracts its own risk profile. There are also external factors which require final determination. Once we ascertain the resolution of your risk scenario, your funds may be released in the normal course.
As we valued your business, we pursued all possible alternative processing options for our merchants and had implemented a transition plan to migrate all of our qualified merchants from a myPaySystems IBA to their own merchant accounts. It was due to the sudden actions of Pago eTransaction Services GmbH/Deutsche Bank that we were unable to complete the migration. If you continue to require online payment processing services you may contact other payment processors that provide similar services. Searching for “process credit cards online” in any search engine will provide you with possible alternatives.
At this time PaySystems will only accept written communication concerning this matter, addressed to:
myPaySystems
attn: Legal Department
1500 University Ave., Suite 920
Montreal, Quebec
Canada H3A 3S7
We would like to extend our sincerest apologizes for any inconvenience this may cause to your business. We thank you for your patience and understanding during this difficult time.
Sincerely,
myPaySystems Management
Looks like they are letting their lawyers handle all communication. Can’t be a good thing
What excellent customer service! 
Needless to say they’ve hurt their reputation. I guess the other third party processors will be seeing a jump in business. If anyone is (I mean was) using PaySystems and you’re doing over $1,000 a month, this would be an excellent time to get a reliable true merchant account.
Yep. My employer’s merchant account is in the works. We are “supposed” to be up and running by the end of the week.
The real pain is going to be migrating the customers over.
Customer Service is responding online but can not do anything or say anything. The standard response is "At this time PaySystems will only accept written communications concerning this matter, addressed to: myPaySystems attn: Legal Deptartment … <address>
I am very concerned that my money on balance is now lost - Damm!!
.
.
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Further, as per section 9.3(e), notice is given that all funds must be held pending risk review of each account. At this time no release schedule is available, as each case attracts its own risk profile. There are also external factors which require final determination. Once we ascertain the resolution of your risk scenario, your funds may be released in the normal course.
not too reassuring.
Yup… looks like everyone just got screwed, us included.
All weekend, IBA was down, and we received NO email, or notification etc. I only discovered this after lots of customer complaints, then logging into the control panel a simple message “due to technical difficulties”
No $ settlement either, same excuse from the live chat staff… “Technical difficulties”
After reading that email today, it seems Visa / Mastercard pulled the plug on them, but i SERIOUSLY doubt this was done overnight!
Paysystems KNEW something like this could happen, and preferred to hang on to their customers incase it worked out their way.
In the process, thousands of merchants now have to scramble for new providers, and wonder how / if they’ll see their hard earned money.
Worldpay takes at LEAST a week to setup, Paypal not usually preferred by customers, 2checkout is quick, but dare I say use at your own risk… burned by this company more than once.
A few mention that its time to get a TRUE merchant account, I agree, however, unless you’re based in the US, this is sometimes more difficult than it seams, especially if you trade with $US, as some countries dont offer merchant accounts in currencies other than your local.
Overall, thanks Paysystems!
I just got the notice. Paysystems closing my IBA account wihtout advance notice. AAAAAHHHHHHH…
I doing over US$1000 a month and need TRUE merchant account.
Can anybody help me to guide where I can found it?
THank a lot.
What part of the country are you in imlek?
Hi,
I’m in Indonesia.
I’m using (WAS) Paysystems for my 2 online stores (At my signature).
Thank you.
Ah sorry - as you can imagine - it has been a long day
ARGH. I guess I’m back to just Paypal now… what other options are there?
I don’t have the volume to justify a merchant account, not yet at least. And if Visa/MC was behind MyPaysystems going down, 2Checkout is probably on loose footing as well. Hrmm… well, I guess the proper solution is to get more business and get a real merchant account. =)
Is $1000 USD/mo the typical breakeven point for a Merchant Account?
Edit: Hey, I’ve reached 100 posts… that makes two surprises today.
I wasdn’t visa and mastercard that took them down. It was their backend processor who did. Probably because they were doing something they shouldn’t be doing.
Arg!!! Is there any one who HASN’T got the notice??!!!
Changes links to using PayPal.
EDIT:
From a user that called them…
Accounts and charges under the NEW system which you and I recently migrated to are not affected. This means you migrated to their new system and took charges under the new system. NO change in procedures.
Charges, holdbacks, and wires under the OLD system ARE effected. The disposition of my 3 years of holdbacks is unknown. The dispositions of any pending wires (under the old system I don’t think I have any) is unknown.
From a chat…
Depressed user> I just seen the announcement that PaySystems was closing accounts. Is that just the old IBA/IMA accounts or does it include those who have already migrated?
Christophe> One moment please.
Christophe> It is just the old IBA and IMA accounts. The newly migrated accounts are not affected.
So how many of you got this and have migrated to the new system? I sent them the documents but it looks like I havn’t been moved over yet.