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Actually issuing and acquiring are two different arms of Visa, whether international or US. And from what I've heard they don't always get along.
The issuing arm is obviously supposed to get as many cards into the mail as possible, but the acquiring arm is supposed to make sure the cards are used in a manner that the OWNER OF THE CARDS (which would be the bank and the CC brand) deem acceptable. Acquiring is also supposed to be front line fraud control.
My questions regarding StormPay -- or any other type of payment system -- would be as follows:
1. Who controls the funds?
2. How are these funds guaranteed?
3. If a problem arises how will I get service?
4. What regulations does the bank that is handling the transactions fall under?
5. Is this bank in a stable area, if not located in the US and FDIC guaranteed?
6. What sort of fraud control methods does this service employ?
7. How long has the company, or its principals if the company is new, been in business and what kind of history do they have?
8. What is this bank or company's relationship with the card brander -- in this case Visa I guess --
I would highly suggest this research for anyone tying their money up in any system, and would hope the people pushing their product can answer them fully and fairly easily.
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