#374 Postby PosOnline » Sep 03, 2012 11:27 am
It is against to our business philosophy to publish in a forum any internal information. On the basis of the large number of post on this forum and direct requests from our current partners, we want to answer with the following official statement:
"randy" contacted PosOnline on 27-07-2012 to register as a merchant. On 03-08-2012, the first payment on his account has been proceed. In accordance with our terms and conditions we “monitorring†during the first month each new account to identify any irregularities. The close cooperation with the merchant in this period is particularly important, we take very seriously any indication. "randy has" never "reported" us any dubious transactions. (We suppose even that he does not perform any checks.) Through our payment system he processed a total of 212 positive transactions in 3 weeks, controls on this scale of operations are common in our view.
On 24-08-2012 we get the first official request of Chargeback by MasterCard / Visa for this account, this refers to a payment from 08/16/2012 (159.99 EUR). Following we received numerous requests, in a few days the voided transactions have exceeded 10% of the total volume. The account was with immediate effect "frozen" and transferred to "Payment Review" (as agreed in the contract) and consequently the payouts was stopped and put off until a later date.
PosOnline has no reason to withhold Merchant’s payouts, every week we transfer punctually and exactly the amount to our partners.
We hope with this simple presentation of the facts occurred we was able to clarified any questions and misunderstandings. For each further information or doubts please contact us directly. We will respond and provide support to anyone of you, but we will not answer to further provocations like those just discussed.
Of course, "randy" will be held responsible for any false statements and the damage he has caused to the public image of PosOnline.
Regards
PosOnline