Intabill hires former PayPal, Westpac execs to head-up new IB Global venture
Andrew Pipolo was the CEO of Paypal Australia until earlier this month. Now he is the CEO -Payments of a new business set up by controversial Brisbane based online payments company, Intabill.
Joint CEO of the new business, known as IB Global, is Paul Lilley, a former Westpac Group General Manager. Lilley is the new CEO- banking for IB Global.
Intabill’s founder, Daniel Tzvetkoff, said in a statement that IB Global is a special purpose vehicle set up to buy businesses right across the ecommerce and financial service sectors.
“Intabill is seeking to acquire suitable businesses to enable us to add value to our existing client base as well as to continue to expand our service offering.”
Speaking from the company’s new Sydney offices, Pipolo told eCommerce Report that IB Globals’ initial acquisitions were all likely to be overseas rather than in Australia.
That fits with Intabill’s current and traditional mode of operations, doing business exclusively in other countries and not at all in Australia.
Pipolo said that IB Global probably would, down the track, look to get into businesses such as merchant acquiring in Australia at some point.
But the initial acquisition prospects will be overseas rather than in Australia.
He said that having only just left PayPal and joined Intabill this month, it was a little bit too early to outline any detailed plans.
“I ’ve only just got my feet under this new desk” he said.
Even so, the new hirings are a great coup for Intabill, if only because it adds some measure of respectability to a business that started out providing online credit-card facilities to porn sites.
Indeed Intabill is still thought to earn most of its revenues providing so-called high-risk online businesses with online card acceptance facilities.
Inevitably such businesses attract relatively high levels of complaints, and there are disgruntled postings at forums all over the Internet complaining about transactions processed by Intabill and its associated businesses.
Many of the postings have complained about difficulties in contacting Intabill, and it was some surprise to eCommerce Report to discover last year that the business actually has its head office in Brisbane.
Indeed, far from being publicity shy, company founder 26 year old Daniel Tzvetkoff was last year often seen in Brisbane’s newspapers and seems to have become something of a darling of the local in-crowd.
And why wouldn’t the media be interested in someone who drives around town in a Ferrari, paid $25million for a Gold Coast property, and opened a groovy new night club in downtown Brisbane.
Tzevtkoff told eCommerce Report last year, via a prepared statement released by a public relations company, that Intabill definitely intends to begin operating in Australia this year.
Presumably that will see Australian banking and finance industry regulators, for the first time, conduct a prudential examination of the company.
For more information go to
www.intabill.com
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