An excerpt from our latest email from "Sarah" at Verotel:
Quote:
Unfortunately the initial development of this issue began in 2006, as
purchasers accessed websites with viable sales, then canceled the
purchase through their banking site, creating a false payment in our
database. Our procedure is forwarded on the prepayment of purchase to
our clients. In short, you have been paid out as the clients have
initially paid. Itīs is that the clients have gone back to their
accounts and canceled the bank transaction shortly after payment. The
transition to cancellation was not relayed to us in appropriate time
thus creating a the scenario we are attending currently to. We have
provided transcripts of bounced transactions, so as you have
documentation of offending accounts.
|
In our case, nearly 100% of all DDEU transactions made over the course of the past three years have been canceled/bounced/refunded by the merchant bank. I have great difficulty believing 100% resulted in chargebacks. At this stage I'm suspecting either the merchant bank or Verotel isn't reporting all the facts.
I still say this smells like the iBill fiasco a few years back. I'd wager the (German) banking partner simply isn't paying Verotel for the transaction and withholding the funds for some reason.