Alertpay loses all Visa, Mastercard and now AMEX (all card processing).. Are Toast..

[megamath]

Alertpay has not been telling the truth to their merchants about their problems.


Now they have lost American Express credit card processing as well as Visa and Mastercard. ie. their bank has pulled AMEX as well.


This comes from losing Mastercard because they breached Mastercard compliance rules. Mastercard is the most unforgiving of the card associations and for this kind of infraction Mastercard dont let you back without a million dollar fine.


Visa is 70%+ of sales, Mastercard 20%+ (more in some markets) and AMEX the rest, so AlertPay are toast. Might possibly get Visa back but only possibly.


This is the second Visa Master acquirers they have lost in three months and them losing AMEX now shows that banks are shunning their business model and it is the end for them.


This is all bad enough.


But worst thing is they have NOT been telling their merchants about the problems -- even 15 days after Visa and Mastercard were gone and then they only had AMEX they had not informed merchants by account message or email.


So many merchants did not notice why their sales are down. Now as of 27th March 2009 AMEX gone too.


Dishonest huckstery by Firoz Patel and his assistants in not telling merchants directly of the problem is the worst part of the whole situation.


So goodbye AlertPay. R.I.P...

 

[clemens]

That's sad, since they had a real good service available, but the time has changed and I think that they didn't was allowed to act as an electronic e-currency official. That might be the main reason for why the Acquirer terminated the account.

 

[sebastian]

Yes I read it everywhere that Alertpay lost their mid's, but when I asked them for a few days ago they told us they are still able to process credit cards

 

[dreamr802]

wow that's awful that all the credit cards pulled out. They are becoming more and more strict. These credit card companies are making it harder for the people to make a living. Some people rely on alterpay for their payments of services...this is going to hurt a lot of people.

 

[andrew25]

This is the reason why companies which are growing should not violate TOS of major corporates such as Master card. It would ruin their future as well as their future. I had already predicted that Alertpay won't be a great processor and it looks like it is about to happen.

 

[wildy]

It is only a matter of time right now and Alertpay will be gone as payment processor.


Having no credit cards as payment opportunity will make them quit their business sooner or later.

 

[Propeller]

Looks they are back again,, man if that happens a lot it will suck alot for people who use them!

 

[VietXKosuke]

See? The one reliable Merchant service, is Paypal. I've not had any problem with them and I've been using them for years.