Quote:
Originally posted by charly
The thing that amazes me about these processing businesses is that they are just routing money.
They need staff, premises and a computer. They see what is coming in every day, they know what they earn from that and they can simply adjust the costs accordingly to run at a profit.
There should not be a problem with charge backs, now that it's pinned at 1%, they also have the 10 to 15% they hold back.
Unless of course they consider this a cash cow and were paying themselves over the top and running a business that simply did not make sense on the balance sheet.
Maybe their bank got out for other reasons than their involvement in porn. Perhaps they could see the problems.
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first data is big in porn and pretty much big in anything, it must be more then porn that caused this