Long time payment processor Kagi in their announcement of the closure of their company on 2016-07-31:
For the past ten years Kagi has been struggling to recover from financial losses due to a supplier fraud situation. We have reduced the debt but the recovery has failed and forced us to close.
We are sorry we failed you.
It’s sad to see the failure of a company that helped support so many individuals and small businesses over the years. They helped many early Mac and Newton shareware developers get off the ground and prosper, some of which are still around today. Sadly, their popularity was waning due to increased competition from newer payment options such as PayPal, Stripe, and others.
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