Rumor: Large intl banks shutting down merchant processing ops? Anyone else hear this?

[PainlessProcess]

Over the past 10 days Painless Processing has received an influx of calls and inquiries stating that one or more large international processing banks are eliminating their credit card and processing operations and terminating merchants as a result. After compiling and surveying the details of these merchant calls and inquiries, one of the most recurring details is that the majority of these businesses have something to do with Online Pharmacy industries, nutriceuticals, and enhancement or dietary products. While we are still investigating the legitimacy of these claims, we want to know if anyone else is aware of this situation or has been affected by something similar recently.

 

[JohnLocke]

Statement:

Over the past 10 days Painless Processing has received an influx of calls and inquiries stating that one or more large international processing banks are eliminating their credit card and processing operations and terminating merchants as a result.

Your opinion

After compiling and surveying the details of these merchant calls and inquiries, one of the most recurring details is that the majority of these businesses have something to do with Online Pharmacy industries, nutriceuticals, and enhancement or dietary products.

Your legit Question

While we are still investigating the legitimacy of these claims, we want to know if anyone else is aware of this situation or has been affected by something similar recently.

Hidden advertisement and the reason for why you got a infraction, please avoid this the next time.

Last edited by Admin; Yesterday at 06:48 AM. Reason: Spammed Advertising - Didn't Read the TOS!!

So now to my opinion, I think that most clients who are into high risk business are facing more and more bigger issues with their payment processing as times goes. The few Acquiring banks around the globe are increasing the requirements to each client / merchant they take on for processing payments so with the growth of 3rd world's number of people who get connected to the Internet the number of illegal websites i.e. Uncontrolled Pharmacy, MP3, Gaming, Forex and Investment Pontzi schemes Music and Video websites increase as well. I would assume this is the reason for why so many merchant either don't get approved at all or get terminated quickly.


There is so much money into these business that a operation that just can process 1 or 2 weeks can make enough money to proceed to the next venture. For most regular online retailers it may be difficult to imagine what those High Risk Merchants are able to process, but it is not at all uncommon to process USD 200K - 300K a week. So I assume you can imagine why so many jump on this train!:coffe:

 

[pontiacG8]

Over the past 10 days Painless Processing has received an influx of calls and inquiries stating that one or more large international processing banks are eliminating their credit card and processing operations and terminating merchants as a result. After compiling and surveying the details of these merchant calls and inquiries, one of the most recurring details is that the majority of these businesses have something to do with Online Pharmacy industries, nutriceuticals, and enhancement or dietary products. While we are still investigating the legitimacy of these claims, we want to know if anyone else is aware of this situation or has been affected by something similar recently.

Do you think it is a RUMOR :S -confused: Why you say so It has been the fact since the payment processing on the Internet (CNP) has started that High Risk businesses i.e. Pharmacy, Gambling, Body Parts and other wiered stuff can't be processed, everyone know this, even the fraudstars who are selling this **** know it.. as Admin already pointed out, there is too much money in this for someonw who knows how to set this all up to stip it!


doublethumbsupIt's not a Rumor but the damn truth and the situation since 2000 doublethumbsup