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Anybody have experiance with www.merchantinc.com ?

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  #1  
Old 10-01-2004, 06:33 PM
E_man3 E_man3 is offline
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Anybody have experiance with www.merchantinc.com ?


Has anybody used http://www.merchantinc.com before?
Have any comments about them?

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  #2  
Old 10-01-2004, 07:14 PM
Corey Bryant Corey Bryant is offline
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They seem to be a reseller - probably for a number or merchant account providers. But it also seems there sign up form is not secure. Looking at the source code, they do not have it pointing to an SSL site nor do they seem to have SSL installed on their domain.

  #3  
Old 10-02-2004, 12:55 PM
sbouchever sbouchever is offline
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While we have no firsthand experience of their processing services, their Web site is in clear violation of Visa/MasterCard Association regulations requiring ISOs to clearly list their Acquiring Bank affiliations. As such, they are putting their Acquiring Bank at risk of major fines by the Visa/MasterCard Association.

Hope that info helps.

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Old 10-02-2004, 05:06 PM
cdgcommerce cdgcommerce is offline
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Yes, it certainly does appear to be the case. No mention of any sponsoring bank anywhere on it.

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  #5  
Old 10-02-2004, 05:27 PM
Corey Bryant Corey Bryant is offline
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No mentioning of any sponsoring bank does usually mean they have agreements with numerous MAPs.

They might not really be an ISO but possibly an affiliate of some different MAPs. Maybe Chris can verify if they actually also need that information as well. (An affiliate here means that they are just referring the person to an ISO.)

  #6  
Old 10-02-2004, 05:51 PM
cdgcommerce cdgcommerce is offline
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Regarding that, Corey, given that the mentioned Web site from the thread is clearly soliciting merchant accounts - they are specifically required by Visa and MasterCard to disclose either their sponsoring bank (if they are an ISO/MSP) or disclose the ISO/MSP that they are representing along with the respective sponsoring bank.

If they are an agent representing more than one MAP, they should then disclose the list of the various companies that they are representing along with their sponsoring banks.

The fact that they are not listing ANY ISO/MSP & Bank is putting them in clear violation of the Visa & MasterCard guidelines regarding the disclosure requirements on this and if the Visa or MC "compliance police" pay them a visit - they are going to be dealing with one very unhappy Member Bank and/or ISO/MSP.

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  #7  
Old 10-02-2004, 05:57 PM
Corey Bryant Corey Bryant is offline
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That was what I was thinking - thanks for the clarification

But you did raise another question (your fault) LOL.. Now what if they were not necessarily soliciting merchant accounts? Like well here is one company to use: http://www.domain.com. They charge this. And then this company charges XX and their URL is http://www.anotherdomain.com ? Some websites just have comparisons or affiliate links. Can they rely on the link to the "main" website to handle the compliance issue?

Or rather, is the line drawn because they are requesting the personal information on their site while on affiliate websites they are referring over?

  #8  
Old 10-02-2004, 06:06 PM
cdgcommerce cdgcommerce is offline
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In answer to that, I would say that if the site is merely an online information resource and it is talking about merchant processing in general terms and then it lists links to various providers... that would be a different scenario altogether.

However, in the case of the site referenced in this thread it is a pretty cut and dried example of non-compliance. It is clearly trying to solicit merchant account business for VISA/MC processing and it is not making the necessary disclosures.

I am sure that there are a lot of "grey area" scenarios that could exist somewhere in between the two examples above but the best rule of thumb is that if the organization putting up the Web page is a bankcard agent or ISO and trying to "push" a merchant account signup directly or indirectly - the disclosures should really be listed.

Anything short of that and you are definitely rolling the dice. This is also a rule that has definitely been enforced in the past by Visa and MasterCard so it isn't something to mess around with in my opinion.

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  #9  
Old 10-02-2004, 06:12 PM
Corey Bryant Corey Bryant is offline
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Thanks! That was what I was thinking as well.

  #10  
Old 10-02-2004, 06:44 PM
sbouchever sbouchever is offline
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Chris is exactly correct with his information regarding ISOs and Agents being required to clearly show their Acquiring Bank affiliations on their Web sites.

For example, Corey clearly states on his Web site that he is an Agent for Cardservice International.

Chris clearly states that he is a registered ISO/MSP of Provident Bank.

e-onlinedata clearly states that we are a registered ISO/MSP of HSBC Bank.

Therefore we are all abiding by Visa/MasterCard Association regulations. http://www.merchantinc.com is in violation of this requirement.

Hope this info helps.

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