Intabill rises again as Payovation
Failed Brisbane based payments business - Intabill - appears to have risen from the dead, under a new name, and at a new web-site at www.Payovation.com.
But Intabill’s creditors, including high-profile gaming sites like Pokerstars.net, are unlikely to get any joy from the miraculous news.
Its also doubtful whether Payovation Pty Ltd will be helping them to retrieve any of the millions they are owed.
That’s because Payovation CEO, Michael Hui, has posted a message to an online forum claiming that none of Intabill’s founders, shareholders or directors are involved with Payovation.
“It has been suggested on this forum that we are just Intabill with a different name. This is not the case.
Payovation is a new and separate business from Intabill. None of the founders, shareholders or directors of Intabill are founders, shareholders, directors or employees of Payovation….
We have no relationship with Intabill other than our purchase of some of Intabill’s intellectual property for a considerable sum of money. ”
Of course, whilst there may be no formal relationship between Intabill and Payovation, the reality is that both Hui and many of those working at Payovation previously worked at Intabill.
Indeed Hui’s posting acknowledges that.
“Many of us at Payovation are ex-Intabill employees (including myself).”
Hui’s posting also characterizes he and Intabill’s former merchant customers as equal victims of Intabill’s.
“We can empathise with many of you given that many of us lost our jobs and money in Intabill’s downfall. “
Even so, it seems clear that Hui and his Payovation team were actively preparing to take over and re-launch the Intabill business under a new name in the final weeks of the company’s existence.
“As it became clear to us that Intabill was experiencing financial difficulties, we met with an Australian investor who agreed to financially back our plans to acquire the Intabill processing software.
Following weeks of negotiations, the deal was struck to purchase some of Intabill’s intellectual property.”
The assets Payovation bought may well have included Intabill’s customer database. Certainly Hui has been emailing Intabills former customers, and indeed claims to have already signed up many of them.
Hui said in his posting that “We have offered to Intabill’s previous merchants to take over their processing and many have accepted.”
Details of Hui’s email offer to Intabill merchants customers were previously published on the same online forum.
I am pleased to inform you that on July 7 2009, prior to Intabill entering into administration, Payovation purchased all core Intellectual Property from Intabill, allowing for a smooth and seamless transition of their processing platform and all merchant accounts into our care and control.
Payovation is an international payment gateway and processor, providing highly reliable merchant services to merchants around the world.
Payovation brings an experienced team of senior management with many years of processing experience to ensure a smooth, seamless and profitable future for all of its clients and customers. Please be assured that your existing Intabill merchant account will continue to operate under Payovation without interruption or change.
eCommerce Report has been unable to contact Michael Hui to confirm the accuracy of the online postings but has been able to confirm that Mr Hui was,
up until around 18months ago, an associate at Brisbane law firm – Sciaccas.
Enquiries to Sciaccas revealed that Intabill director Sam (Salvatore) Sciacca is not currently an employee there.
Sam Sciacca was one of the two directors of BT Projects Pty Ltd – the company that traded in Australia as Intabill.
(The other director was Daniel Tzvetkoff)
It is understood that that there are, in fact, two Sam (Salvatore) Sciaccas in the extended family living and working in Brisbane.
Both are lawyers but it is the younger Sam Sciacca who is the industrial relations specialist working at the law firm.
For more information go to
www.payovation.com
www.payovation.net
www.webhostingtalk.com
See also our previous reports on the Intabill collapse including
www.ecommercereport.com.au/story141.php
(13 July 2009)
www.ecommercereport.com.au/story132.php
(24 June 2009)
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