ICC-Cal Sees Big Dip in Revenue Without Porn, Gambling

RISHON LE-ZION, Israel — ICC-Cal, which was forced to halt its online adult and gambling processing last year, hasn't fully rallied from a storm of problems it incurred in 2010.

Earlier this month, ICC-Cal said that the storm of events last year caused it to see net profit fall 20 percent. Porn and gambling clearing activities made up a majority of its income in 2009.

The company, formally known Israel Credit Cards-Cal, received fines totaling about $20 million from both MasterCard and Visa last year over alleged excessive chargebacks and instances of fraud, forcing its president to resign and making it scale back porn and gambling. The processor also received demands from the Bank of Israel for changes in its procedures.

Visa complained of excessive chargebacks, particularly in relation to porn sites, as well as nutriceuticals. MasterCard's complaints were related to ICC-Cal's alleged clearing services for gambling sites, which it is accused of hiding by using false transaction code numbers.

"We mainly devoted 2010 to dealing with the crisis," said ICC CEO Israel David.

ICC-Cal earlier this month reported that revenue from online clearing activity fell 72 percent in 2010. It also reported that it posted a $3.6 million loss on its international business in 2010, compared with a profit of $12 million in 2009. Total revenue fell five percent to $307 million in 2010 from $323 million in 2009.

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

MojoHost Reaffirms Commitment to Adult Industry Amid Project 2025 Implications

In the wake of Tuesday's election and amid concerns about the possible ramifications for the adult industry, MojoHost President Brad Mitchell has releases a statement addressing Project 2025 and the future of the industy.

Adult Web Hosting Service 'Midnight-Host' Launches

Midnight-Host, a new web hosting service designed specifically for adult websites, has launched.

ASN Lifestyle Magazine Joins Pineapple Support as Media Sponsor

ASN Lifestyle Magazine has joined the ranks of over 60 adult businesses and organizations committing funds and resources to Pineapple Support, partnering with the organization as a media sponsor.

Adult Industry Reacts to Trump Victory

On Tuesday, former President Donald Trump was reelected, defeating Vice President Kamala Harris to reclaim the office he lost four years ago.

Fetisfy Online Fetish Marketplace Launches

Fetisfy.com, an online marketplace for users to sell fetish items, has launched.

Pineapple Support Launches 'Spill the Tea, Colombia' Community Support Event Series

Pineapple Support has launched "Spill the Tea, Colombia," a monthly, in-person community support event for adult industry professionals.

Streamster Launches 'Tip2Peep' Camera-Switching Feature

Live-streaming software provider Streamster has launched Tip2Peep, a new feature that allows viewers to switch between multiple webcam viewing angles by tipping the creator.

Tyler Wu Guests on Chaturbate's 'Sex Tales' Podcast

Tyler Wu is the latest guest on Chaturbate’s “Sex Tales” podcast, hosted by Melissa Stratton and Vanniall on the company’s “Camming Life” YouTube channel.

Fleshy to Launch Interactive Cam Site 'Eromote'

Male pleasure brand Fleshy has announced that it will launch an interactive, bidirectional cam site next month called Eromote.

XBIZ LA Show Introduces New 'Crib Crawl' Feature

XBIZ is pleased to announce that the 2025 edition of its flagship conference, the XBIZ Show, will debut a brand-new feature: Crib Crawl, offering attendees the chance to meet and greet representatives from leading brands and organizations in dedicated suites at the host venue.

Show More