GoFuckYourself.com - Adult Webmaster Forum - View Single Post - MasterCard Sued for Antitrust Violations & Fraud

nevermind · 05-13-2003, 05:05 PM

Quote from Epoch CEO Chris Mallick in January, 2003 GFY thread regarding cross sells potentially causing problems with Mastercard and Visa:

http://www.gofuckyourself.com/showth...+ cross+sells

We are not trying to give the industry a bad name or bring down heat. We are running our business just fine, thanks. As for credibility, we have as much as can be had with Visa and MC. We are CISP compliant, Verified by Visa, no FTC problems, no chargeback issues, acquiring through some of the biggest banks on Earth? and we don?t have any volume restrictions. So I think we are doing fine.

Quote from Paycom lawsuit filed yesterday:

Paycom began settling its MasterCard transactions with its current Acquiring Bank in June, 2001. Since it's relationship with that Acquiring Bank began, Paycom has experienced Chargeback Ratios in excess of MasterCard's 1 percent Chargeback threshold in the months of August, September and December of 2001, and January, February, March, April and May of 2002.

Then, Paycom says they were compliant after June of 2002. But that additional chargeback overages were reported in "error" by their Acquiring Bank --- resulting in additional fines and penalties levied this year.

05-13-2003, 05:05 PM
nevermind Confirmed User Join Date: Feb 2003 Posts: 276	Quote from Epoch CEO Chris Mallick in January, 2003 GFY thread regarding cross sells potentially causing problems with Mastercard and Visa: http://www.gofuckyourself.com/showth...+ cross+sells We are not trying to give the industry a bad name or bring down heat. We are running our business just fine, thanks. As for credibility, we have as much as can be had with Visa and MC. We are CISP compliant, Verified by Visa, no FTC problems, no chargeback issues, acquiring through some of the biggest banks on Earth? and we don?t have any volume restrictions. So I think we are doing fine. Quote from Paycom lawsuit filed yesterday: Paycom began settling its MasterCard transactions with its current Acquiring Bank in June, 2001. Since it's relationship with that Acquiring Bank began, Paycom has experienced Chargeback Ratios in excess of MasterCard's 1 percent Chargeback threshold in the months of August, September and December of 2001, and January, February, March, April and May of 2002. Then, Paycom says they were compliant after June of 2002. But that additional chargeback overages were reported in "error" by their Acquiring Bank --- resulting in additional fines and penalties levied this year. Last edited by nevermind; 05-13-2003 at 05:33 PM..