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True. The only reason I knew the details is that, as a current B&H and Payboo customer, I received an email from them detailing their plans. The text of the email is in the thread I provided a link for.

As @ManW_TheUncool mentioned, Payboo is not over -- B&H is just switching the card over to a new bank. Here is the thread where it has been discussed. The thread is in the Photography section of After Hours, so it probably doesn't get a lot of views there.