Quote:
Originally posted by Epoch
If a merchant continues to exceed the above thresholds then they will most likely lose their merchant account and receive a TMF (terminated merchant file), which is a very bad thing, being given this status may prohibit the merchant from ever obtaining another merchant account whether it be for adult transactions or for standard non-adult business.
And the rules are changing. Card associations are in the process of approving MANY additional rules/guidelines which will effect high risk merchants. One of which is that they may not allow any company who has previously received a TMF for a merchant account to process high risk transactions, this includes processing with a 3rd party credit card processor! (Epoch,Ibill,CCbill etc..)
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Interesting. I wonder when this new rule might take effect? That could be a pretty big deal, I would think, if anyone with a TMF would NOT be able to do even third party processing.
P.S. I'm not trying to get in a flame war or anything like that.
But, Willow ...
"Don't forget to hire a couple of people to do your 24/7 customer service. Another person, maybe two to handle your chargebacks and banking stuff." ...
That was hilarious!