PHSL Worldwide Completes $2.0 Million Line of Credit Through iBill Subsidiary

Monday 17 January 2005 03:03 CET | News

PHSL Worldwides iBill subsidiary entered into a line of credit with a New York institutional investor. iBill drew $2.0 million on December 31, 2004. The credit facility is secured by the assets of iBill.

iBill sells access to online services and other downloadable products (music, games, videos, personals, etc.) to consumers through proprietary web-based payment applications. The iBill online payments systems manage transaction authorization on the global financial networks such as Visa and MasterCard. Since 1996, iBill has established a trusted brand with consumers and online businesses with 27 million customers in 38 countries. In 2004, iBill averaged 1.0 million transactions per month and completed approximately $280 million in gross transactions.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce