Forum Moderators: buckworks
I'm from Paily and will gladly answer your questions.
Paily was indeed launched on November 2005, but we're in business since 2001, and have been providing payment fraud prevention services since mid-2003.
Our success there has brought us to launch our own chargeback guaranteed payment service.
Regarding jwolthuis comment: we protect against chargebacks in which the cardholder says he did not make the transaction. We of course cannot protect from chargebacks resulting from non delivery of goods.
In a well-managed online business over 90% of chargebacks are of the type we cover, so I disagree with jwolthuis' comment that there is a "huge" difference.
Regarding the trust issues raised: We are here to stay. We intend to change the way high-ticket and international transactions are made, and have the means and technology to do it.
Nevertheless, one doesn't need to trust us to use our services. We do not require a rolling reserve, so our customers may make frequent withdrawals and keep their exposure minimal.
Last, about being 'too good to be true' - you should check our fee schedule before making that claim... ;)
Feel free to ask more questions.
All the best,
Paily Guy