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Barefootsies · 04-07-2009, 07:03 AM

Short story: (to my understanding)

Basically some people signed up for membership sites, or virtual transactions, and did charge backs over a period of time.

One of their merchant banks did not provide them immediate notification of these charge back via some error in process. (which now explains why I would not get charge backs on any regular basis, and all in one week, or month)

Verotel basically paid their merchants on faith per their merchant bank agreements.

Verotel now has to recoup the money:

They are offering solutions in structured pay back over 10-15+ weeks, partial or percentage payments.

Or taking your 'hold back', or rolling reserve, and applying that to the debt.

They are discounting some of the fees.

They are providing you a list of the fuckers who are charge back people so you know moving forward, or can use for your records with your other processors.

04-07-2009, 07:03 AM
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Verotel: I Received the Call on the DDEU Short story: (to my understanding) Basically some people signed up for membership sites, or virtual transactions, and did charge backs over a period of time. One of their merchant banks did not provide them immediate notification of these charge back via some error in process. (which now explains why I would not get charge backs on any regular basis, and all in one week, or month) Verotel basically paid their merchants on faith per their merchant bank agreements. Verotel now has to recoup the money: They are offering solutions in structured pay back over 10-15+ weeks, partial or percentage payments. Or taking your 'hold back', or rolling reserve, and applying that to the debt. They are discounting some of the fees. They are providing you a list of the fuckers who are charge back people so you know moving forward, or can use for your records with your other processors. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"