Alertpay loses all Visa, Mastercard and now AMEX (all card processing).. Are Toast..

As I mention before Alertpay has not been telling the truth to their merchants about their problems.

Now they have lost American Express credit card processing as well as Visa and Mastercard. ie. their bank has pulled AMEX as well.

This comes from losing Mastercard because they breached Mastercard compliance rules. Mastercard is the most unforgiving of the card associations and for this kind of infraction Mastercard dont let you back without a million dollar fine.

Visa is 70%+ of sales, Mastercard 20%+ (more in some markets) and AMEX the rest, so AlertPay are toast. Might possibly get Visa back but only possibly.

This is the second Visa Master acquirers they have lost in three months and them losing AMEX now shows that banks are shunning their business model and it is the end for them.

This is all bad enough.

But worst thing is they have NOT been telling their merchants about the problems -- even 15 days after Visa and Mastercard were gone and then they only had AMEX they had not informed merchants by account message or email.

So many merchants did not notice why their sales are down. Now as of 27th March 2009 AMEX gone too.

Dishonest huckstery by Firoz Patel and his assistants in not telling merchants directly of the problem is the worst part of the whole situation.

So goodbye AlertPay. R.I.P...

 

Here is a representative post by an effected Alertpay merchant. Says it pretty well:

 

Good thing I only have $3 left in them

 

Even they had a problem with processing bank transfert. I was unable to withdraw in january until march i think!!!

Bye

 

Paypal sucks.. but it is still a safe haven when one sees such incidents with other processors.. wtf are we supposed to do

CB

 

if alert pay had meastro cards setup(solo) they would probably have just as many customers using those than visa

 

Too bad the worthy and promising Paypal competitors are going down.... Really people need the alternatives to Paypal

 

The figure for Mastercard can be more in Europe, but it includes Maestro debit cards which are issued by Mastercard.

In fact there are very few Maestro cards that can be used online. Most of those are on the UK Maestro brand which still uses the old SWITCH clearing system. (And to use online you have to enable for that boondoggle MasterCard Securecode.)

 

Don't worry, AlertPay are pathetic, they violated the user agreement. Not me, and it cost me £150. Anyone know of the canadian financial regulator i can get in touch with?

 

Moneybookers is fairly good if you want an ewallet like PAYPAL.

Stick with WorldPay otherwise. I have historically been keen of CCNOW or SWREG (if you sell software and dont care about antifraud) but now as I write about here they are having a crackdown on what people are reselling through it and terminating a larger number of merchants.

(Just like 2Checkout 2CO does regularly when they change around their prohibited and restricted product list.)

But do of all things watch out for and avoid the flash in the pan ewallets floating around out there. here one year gone the next.

 

So after scrabbling around for nearly two months Alertpay managed to get a bank to give them Visa accepance back on April 28th .. only nearly two months after they lost Visa and Mastercard ( and after that AMEX).

Now it is the middle of May 2009 and despite what they claimed on April 28th think they are going to have real difficulty getting Mastercard back (and AMEX ).

it is just they reduced their credibility a lot when Alertpay did NOT tell their merchants about this lack of Visa and Mastercard so many merchants did not notice why their sales are down until customers told them they couldn't pay with Visa and Mastercard!!

I just wonder how long until the new bank gets cold feet like the ones that came before because of this uncompliant business model of Alertpay that gets them always into trouble with the card associations (Mastercard, Visa, AMEX)..

 

at this specific hour theis site is not even working.

LOOL

 

i dont believe it, a big company getting a big noise !!

 

it wasn't alertpay it was the users. This is the second time. Users have abused alertpay by conducting fraudulent transactions using stolen/hacked ccs.

 

till alerpay is down/not workable, ? any one can let us know te update pls ?

 

updates you can find on thei blog

 

woo,moon

 

looks there back in business

 

man thats such garbage if it happens a lot. sucks for a lot of people who use them.

 

not so sure. they accept visa and amex but they don't accept mastercard. I'm ot so sure that anyone will want to use them untill they process mastercard.