Thread: When VAT comes online, shouldn't this happen?

Since PiPS has no money worries they should be able to pay and cover VAT for our entire backlog, so thinking about it, why shouldn't we get through the backlog within a couple of weeks.

The way I see it is thus.... We are going to create our PicPay speedywallet then spend probably $100 to validate it. After that all our pending WD's should go straight through to our back office and then just wait for VAT to wire it to our banks.

Obviously just speculating here but if PiPS has no money worries like they say they do, then why cant the above happen? Why wouldn't PiPS already have made a 50 million dollor transaction to VAT to cover it all?

Unfortunately, they must have a cashflow problem. If not, the money is held on just for them to make more money.

That's my opinion.

Well sure, since they (PIPS) don't have any admin or overhead costs they can also afford to provide each of us with another account or two!

Come on, get real! This is a business!

Perhaps if you were to kick in with part of the costs associated with the programmers, facilities costs, real estate, equipment for hosting the programs, etc., they might be inclined to cover the costs of SW/VAT.

Stop and think about all the overhead they have to cover and your outlook might change just a tad.

GHayes

We know nothing really about what is really happening, so why post rumors?

Just because they can't send send out quickly does not mean they have or don't have the funds.

I sent someone 1k 5 days ago, he was supposed to get it the same day, still no $ in his account... (just a small example of the REAL world)

I was just saying thats all. They were always saying how its a banking problem, not a money problem.

Bryan said at the Hawii convention that PIPS makes more than 2% every week day so dont worry. If he is correct then when VAT comes online, VVVRRRRROOOOMMMMMM passt the backlog we gooooo.

Anyway, isn't it great at the moment, VAT are just raring to go. That makes me feel good about the situation. I'm sure PIPS are just going through every minute detail to make sure everything is absolutely perfect before the storm begins. I reckon its gonna start next week.

Tim

plus...

When VAT does come online, even if its not as quick as we all think its going to be, I would be happy even if we get through 2 weeks of backlog ever week. If we could do that then I wont worry at all.

a months worth backlog every week would be great though!

Tim

I'm not sure that VAT will process the backlog, it would be an administrative nightmare for them to do so. Perhaps what might be the option is to cancel your WT and do transfer it to VAT and do one from there. That will (well, should) be an entirely automated process.

i wonder why bryan hasnt posted about this... VAT clearly stated that they are waiting for picpay... isnt he supposed to tell us whats up with picpay?

Originally Posted by rudutdo

I was just saying thats all. They were always saying how its a banking problem, not a money problem.

Bryan said at the Hawii convention that PIPS makes more than 2% every week day so dont worry. If he is correct then when VAT comes online, VVVRRRRROOOOMMMMMM passt the backlog we gooooo.

Anyway, isn't it great at the moment, VAT are just raring to go. That makes me feel good about the situation. I'm sure PIPS are just going through every minute detail to make sure everything is absolutely perfect before the storm begins. I reckon its gonna start next week.

Tim

This is NOT the first time Picpay has dealt with Vat/Speedywallet. In the past, Picpay stopped (or couldn't) get any funds to Vat so Vat suspended/cancelled our accounts. I would like to know what exactly has changed with the setup so this funding problem won't happen again.

Ant

I think trying to get the funds to Vat is what they are trying to sort out now & have some safeguards in place