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

Thursday 13 January 2005 10:38 CET | News

iBill, subsidiary of PHSL Worldwide, Inc., 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 is a valuable ecommerce platform with a long track record beginning in 1996, said Claude Bertin. This credit facility will substantially improve the liquidity of iBill and also demonstrates that a sophisticated investor believes in the future 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(R) and MasterCard(R). 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