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Targeting MasterCard for PayZip and other 3PP

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  #1  
Old 03-26-2006, 01:43 AM
BornMunson BornMunson is offline
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Targeting MasterCard for PayZip and other 3PP


I am one of the people who was affected by PayZip shutting down, and I have over $100,000US tied up or lost. I have heard of this happening in the past with other third party payment processors and I think its time to do something about this to bring more attention to what these big companies are doing to us small online businesses with no regard. I am proposing that we write up a press release detailing what Mastercard and Visa are doing by shutting down these company's and taking their merchants money for the fine. I have heard of this happening with a bunch of third party payment processors now and the amount of money that people have been ripped off by this happening, must be in the tens or hundreds of millions of dollars. In releasing a press release I am hoping something will come of this... maybe it gets picked up by a major news network, forcing Mastercard/Visa to address the situation... maybe it will spark a lawyers interest to file a law suit against Mastercard/Visa... Who knows what will happen, but I know we need to get this information out there!!

If anyone is interested in helping write up a press release I would be more then happy to pay for it to be published. I would be able to chip in on doing a write up and I would appreciate if others affected would be willing to share their information and stories.



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  #2  
Old 03-26-2006, 03:12 AM
grobe grobe is offline
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I don't understand why people who are doing so much business that they have $100,000 plus tied up in a Payzip can't get a merchant account.

  #3  
Old 03-26-2006, 03:17 AM
dollar dollar is offline
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The majority of them are in countries where they are unable to get a merchant account.

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  #4  
Old 03-26-2006, 01:11 PM
BornMunson BornMunson is offline
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I do have a merchant account now, since the PayZip fiasco. But that is not the point of this thread.

  #5  
Old 03-26-2006, 02:02 PM
keliix06 keliix06 is offline
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The only problem is do you have any real information? You have a lot of people in the other Payzip thread guessing at a lot of stuff, but no real facts. Unfortunately what it looks like was a case of a few bad apples ruining it for everyone else, and Payzip not really paying any attention to what they were reselling. I feel truly horrible for the everyone else.

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  #6  
Old 03-26-2006, 02:05 PM
webwrigh webwrigh is offline
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I think that a press release or a concerted effort to publicise these problems is very worthwhile. But I'm not sure you should be targetting Visa and Mastercard. It is the likes of Paysystems, PaySat, PayZip etc. that are causing the direct problem with merchants. Also you have to wonder what the various regulatory bodies etc. are doing (apparently nothing).

The actions of Visa and Mastercard do not help the situation but they are not to root cause of the problem.

  #7  
Old 03-26-2006, 02:25 PM
steven-v steven-v is offline
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Don't waste your time with go to Mastercard - they will send you back to PayZip and explain that PayZip violate their agreement - you will end-up with Payzip anyway.

Banks and VISA/Mastercard itself very smart to open any loophole that allow somebody to sue them.

  #8  
Old 03-26-2006, 06:45 PM
BornMunson BornMunson is offline
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I agree that ultimately this is the third party payment processors fault that mastercard/visa have to shut them down... But they (MC and Visa) must know that they are taking the money from the merchants who used these services as punishment. This is not right, and I think everyone on this forum will agree, as well as the rest of the world.
We dont have any direct proof of the situation with PayZip, but do have proof of what Mastercard/Visa have done to other companies such as Ibill, Paysystems, PaySat, and probably many more. They are taking our money without any notice to us small business who most of us dont realize that we may lose all our money simply by signing up with the wrong payment processor. How are we supposed to know that these third party payment processors arent supported by Visa or Mastercard? Until I had a problem I had no idea, as Im sure is the case with most other merchants.
In targeting Visa/Mastercard maybe in the end a deal could be worked out where Visa/Mastercard can return the money back to the people affected after they take everything from the payment processor... while this is unlikely, you never know, especially if you get this issue in the publics face and in the newspaper. Another possibilty that could come of this is MC/Visa releasing information on their web site of payment processors who they plan to shut down in the future or who are not abiding by the rules. This would give merchants time to stop using one of these services and avoid losing all their money.
Im not necessarily saying that we should publicly bad mouth Visa and Mastercard for what they are trying to do, because I see what and why they are doing what they are. But, 2 wrongs definately dont make a right and I think our story itself sends a clear message that Visa and Mastercard are not going about this the right way.
Things need to be changed and this is obvious to me, and I hope to the rest of you. In my eyes the only way to change this is to get this issue into the public via a press release and put a spot light on what Mastercard and Visa are doing to innocent people selling goods online while trying to go after the few bad apples.

  #9  
Old 03-26-2006, 07:45 PM
jakehart jakehart is offline
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I agree with you. Please PM me for any group related efforts.

  #10  
Old 03-29-2006, 09:30 AM
jakehart jakehart is offline
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I guess there is no more movement on this issue?

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