We have just received notice from our new credit card processor that we cannot process VISA or MasterCard credit card payments at this time. This...
We have just received notice from our new credit card processor that we cannot process VISA or MasterCard credit card payments at this time. This problem has its roots in our relationship with MasterCard. To comply with their regulations, we kept credit card limits to a minimum, barred certain account types from receiving MasterCard payments, and have maintained a very good record with them. Yet they have suspended our account with them.
This recent issue started when one of our new merchants was in the process of getting their account verified, and received their first MasterCard payment yesterday. This payment was apparently in violation of card association rules and the agreement we have with our acquiring bank.
We received notice today that our account with MasterCard is suspended because of this one payment. MasterCard has the option of working with us to rectify the matter, yet they would prefer to end our mutually beneficial relationship. We process thousands of transactions a day, and because of this one payment, we now have another credit card outage to overcome.
Please note that we have a strict policy against these violations as stated quite clearly in our User Agreement. We try to prevent them from happening by closely monitoring the transactions we process. However, some pass under our radar. When a transaction violates our agreement with our banking and credit card partners, we do everything in our power to solve the problem. Unfortunately, Mastercard’s approach is not conducive to ours.
We understand that all of these issues are very frustrating for you, and we assure you that they are also very frustrating for us. We must ask you once again to please bear with us while we find a remedy for this issue.
We are now looking for a more reliable and proactive banking partner to provide merchant services for our members. Thank you all for your patience and understanding.
This recent issue started when one of our new merchants was in the process of getting their account verified, and received their first MasterCard payment yesterday. This payment was apparently in violation of card association rules and the agreement we have with our acquiring bank.
We received notice today that our account with MasterCard is suspended because of this one payment. MasterCard has the option of working with us to rectify the matter, yet they would prefer to end our mutually beneficial relationship. We process thousands of transactions a day, and because of this one payment, we now have another credit card outage to overcome.
Please note that we have a strict policy against these violations as stated quite clearly in our User Agreement. We try to prevent them from happening by closely monitoring the transactions we process. However, some pass under our radar. When a transaction violates our agreement with our banking and credit card partners, we do everything in our power to solve the problem. Unfortunately, Mastercard’s approach is not conducive to ours.
We understand that all of these issues are very frustrating for you, and we assure you that they are also very frustrating for us. We must ask you once again to please bear with us while we find a remedy for this issue.
We are now looking for a more reliable and proactive banking partner to provide merchant services for our members. Thank you all for your patience and understanding.
