StormPay: 3rd Party Processor Updates For Account Holders
Posted on February 4, 2006
Filed Under Affiliate Programs, Merchant Accounts, Third Party Merchant Accounts
If you're new here, join the community by subscribing to my RSS feed. Enter your name and email address to the form located at the top of each blog page for email updates. Glad to have your onboard!
Recently StormPay have ruled against what they describe as competitive payments services. This now means that if you are selling products and services using other merchant account services this is now prohibited. The sad thing about StormPay’s decision is that a large majority of online businesses are removing StormPay from their sites and remain with other 3rd party processors who do not have such stringent rules. I can foresee that StormPay’s profits will be taking a big drop as more businesses choose credit card processors who are have more flexible arrangements.
Businesses such as PayDotCom and PixMeUp both have a large online communities and have dropped StormPay like a bad habit. It will be interesting to see what StormPay will do when fewer people use their services. Will they remove this imposing new clause in the vendor contract or will they look to other ways to bring in more clients and revenue streams?
For a comprehensive reference of 3rd party processing companies I recomend my Membership Site.
To your success,
Nancy
Comments
Leave a Reply
Comments 
