NEW Verotel Visa and MC regulations

[ikcawon]

Hello,

I just got an e-mail from Verotel:

Dear merchant,


You have been a beloved TicketsClub merchant for
the last couple of years and we thank you for that!


During the last couple of months, the credit card
companies have imposed new rules and regulations
regarding transparancy.


That is why Verotel needs to register every single URL and
every single merchant with the credit card companies and
affiliated Web Crawling Agents. The credit card companies
are now charging us registration fees for these registrations.


Because of our location in Europe we are one of the first
internet payment service providers in the industry imposing
these new changes. Others will follow. Shortly after summer
(September 15th) the new registration requirements will
go into effect globally – including with our US competitors.


Starting May 1st your TicketsClub account will be
automatically converted into a Verotel Basic account.


More information about the Account Type changes can
be found on our website at


http://www.verotel.com/accounttypes


These changes have the following implications:


* we need to register you, as a company and individual,
with the credit card companies.


* we board your account under a new service name:
Verotel Basic. This is the new name for your type of
accounts from May 1st onwards.


---------------------------------------------------


All our accounts are subject to registration fees
with credit card companies and Web Crawling Agents.


We have decided to pay these fees for you,
since you have been a long-time customer with us.


However, on June 1st we will introduce a minimum
weekly volume. This is set to EUR 100.00 (approximately
US$ 130) per week.


If you have on June 1st, or thereafter, less revenue per
week than EUR 100.00 - you have the option to pay an annual
registration fee of EUR 500.00 or to cancel your account.


Please note that the registration fees are calculated
per merchant; not per website. So if you have websites
with other billing providers, they will soon ask you for
similar registration fees.


This is for you an opportunity to consider the
possibility to add these website(s) to your
new Verotel Basic portfolio - ensuring you that you
will have more than EUR 100.00 in Weekly Volume.


In short: as long as you keep your Weekly Volume
over EUR 100.00 the only thing that's changing
is the name of your account: from May 1st onwards
you will have a Verotel Basic account.


We hope to continue to do business with you
Kind regards,


Verotel Merchant Services BV
http://www.verotel.com/accounttypes