Plimus to stop processing forex related products

Plimus is one of the largest processing and affiliate networks on the internet. Plimus rivals Clickbank, the biggest affiliates processing

Plimus is one of the largest processing and affiliate networks on the internet. Plimus rivals Clickbank, the biggest affiliates processing network, in processing various e-commerce digital products like ebooks, games, mobile apps and more. Those networks utilize the large number of affiliates, that use those networks, to further promote products offered through their sites. The process is simple: you list a product and decide on the commission to affiliates. Affiliates see this product on the marketplace and start promoting it through their websites, mailing lists, etc. This basically increases your marketing efforts without any extra costs. This is also the biggest difference between Plimus/Clickbank and PayPal – which doesn’t offer affiliates marketplace. There is a small number of “super” affiliates who make millions out of their mailing lists by promoting affiliated products.

For years Plimus and Clickbank have been on the forefront of  forex products affiliate processing. Many forex EA’s, strategies, ebooks and whatnot used to be sold through these networks and you all have probably seen those flickering banners and links with Clickbank based tracking codes. Now it seems credit card processors are about to put an end to this prospering internet marketing segment. Plimus just issued a notice to its clients that it bans sale of any forex based products (among several others). Plimus cites increasing scrutiny by Visa and MasterCard as the reason for behind this move. This adds to the ban placed on forex transactions by China Union Pay in October 2011. Although Plimus’s ban only involves marketing of forex related digital products and we haven’t seen a similar notice by Clickbank this is still a worrying sign as same ban by credit card companies may in the future be placed on funding trading accounts.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Notice Regarding Your Plimus Account 

Dear Vendor

The credit card associations (including Visa and MasterCard) are increasing their scrutiny of merchants selling products within a number of online segments. Affected market segments include, but are not limited to, the following:

Suggested articles

Tradefora Completes Integration with Serenity EscrowGo to article >>

  • Online auctions
  • Foreign Exchange (FOREX)-related products
  • Media
  • Poker chips and other virtual currency

As you offer products that fit within one or more of these segments, Plimus must now undertake a detailed and exhaustive review of your account, and its compatibility with the Plimus platform. This review will take approximately 30 days; at its conclusion, we hope to be able to advise you that we can continue to provide e-commerce services to your business.

During the period of this review, we must undertake two steps. First, the payout scheduled for the 15th of this month will be suspended for a period not to exceed 30 days, pending our confirmation that all transactions will be honored by the card associations. Second, your account will be suspended as of Thursday, January 12th, which will mean that no further transactions can take place until further notice.

We recognize that this represents a significant business challenge, and apologize for the inconvenience. If you believe your account should not be considered to be within one of the stated market segments, or if you have any questions or concerns, please contact Vendor Support directly.

Best Regards,

The Plimus Team

Click here to access your latest copy of the Forex Magnates Retail Forex Industry Report.
Got a news tip? Let Us Know