SOLIDTRUSTPAY INFORMS

Updated: 06/09/2011 10:40
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If you use services of a payment processor SolidTrustPay, you probably know about debit cards provided by this company in cooperation with FirstPay...

If you use services of a payment processor SolidTrustPay, you probably know about debit cards provided by this company in cooperation with First-Pay.com. Well, there is some bad news for all SolidTrustPay debit card holders. The thing is that VISA International has suspended all the Globe Wallet VISA cards provided by First-Pay after its recent audit of the First-Pay.com debit card program, underwritten by the Global Bank of Commerce. That is an unfortunate result of the audit.

This action has affected thousands of card holders, including SolidTrustPay VISA debit cards. The administration of STP assures that the action taken by VISA has nothing to do with SolidTrustPay, its policies, or card holders. And besides, the reason for this action has not been disclosed. It can only be assumed that the audit revealed a flaw in First-Pay compliance standards. The administration continues:

“SolidTrust Pay had no warning whatsoever about the action and apologizes for its members being taken unawares when their cards suddenly stopped working. We have been advised that the Global Bank of Commerce will send us all funds that are presently residing on STPay cards and we will return those funds back to member's STPay accounts. We will also be lobbying hard for refunds of the cost of cards for members that have recently purchased them.”

Right now the team of SolidTrustPay is negotiating with various debit card providers and whichever one they choose to replace the Globe Wallet card will be bigger and better. And of course, all debit card holders want to know when they should expect their funds back. SolidTrustPay informs that they have been told that the underwriting bank, Global Bank of Commerce, will do an accounting of all the funds still remaining on members' cards, and send them a bank wire for the total.

They will also send a detailed list of members and their amounts on their cards. Once all this is received, they will be able to put funds back into member's STP accounts. We will inform you about new updates, so stay tuned.


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