Chase Paymentech

I'm so shocked about my situation. A few fraudulent charges came through that I didn't run (and don't show up on my virtual terminal). After the course of many calls to support to figure out what to do with the money that got deposited, they finally said they will get everything reversed if I sign a document that waives all my rights and holds them blameless for the fraudulent account they allowed to be added to my business name. They still haven't expunged my record or given me back the $100+ in chargeback fees. If I call, they just ask for information I don't have (such as the exact dates of when the chargebacks occurred) and then say, "I'm sorry, but if you don't have the information, we can't help you". This is after spending hours repeating all the other information I did have.

I began with Paymentech in 04/2014 and was with them until 03/2019. We billed a total of approximately 2MM through them. Over this time, we had a total of 13 chargebacks representing a total amount of $15,000. In the chargeback process we submitted supporting documentation to the Card issuer in support of our position, and we won 9 of the total. We received $6,000 back from the Chargebacks. Only 2 were fraud ($4,000) against us and 1 was our mistake for a double billing ($5000) which we did not recover those funds. Paymentech canceled our contract for the reason that we had too many chargebacks. This was fine; however, they also went one step farther by putting us on the MATCH list. An industry Blackball list. This list is maintained by MasterCard and represents companies that are a threat to the financial system. Once on the list the company will not come off until 5 years from the month that the company was put on the list. I only found out that my company was on the list this month (12/2020) only when I inquired about a new merchant service. I spoke to different people at Paymentech who identified themselves as supervisors. They gave me the standard policy statement and said that there was nothing that they could do. This is was a lie and they have no shame telling lies. They can put a company on the list and take a company off the list. I researched this and discussed how to get off the list with other processors. But the Paymentech supervisors will tell you that it cannot be done. Since leaving Paymentech my company has not had a chargeback, only one E-Check that was returned. We are doing very well with our current processor. The idea that Paymentech would put my company on a Blackball list for 5 years means that they do not care about the business that they work with. No one from Paymentech ever reached out to us to discuss the chargeback issues. Nor ever told us what could happen if our Chargebacks were considered excessive. Hence, there is no loyalty to the businesses they service. Therefore, I see no reason to have loyalty to Chase Bank or Paymentech specifically. The people at Paymentech kicked me to the curb on a blimp in our billing. Since leaving them we have not had any problems. However, their action of putting us on the MATCH list will last for 5 years. This is unjust and anyone considering a card processor should consider what happened to us and think long and hard before signing up with Paymentech. The company’s representatives will lie and deceive to get your business. I was warned before I signed with them and I did not take heed. I regret it now. I strongly urge that if you are in the market for Merchant Services that you steer clear of Paymentech. There are other processors that will support your business and actually care and want you to succeed.

A fraud attempt was made on June 13th at my business. The customer (James W) placed an $11,816.46 order with us for an international order and asked that we ship this merchandise with their preferred freight carrier. They provided us with a credit card number, expiry and CCV code and we processed one credit card for $8000.00 without issue. The remaining $3816.46 was to be processed on an alternate card and this is where the problems arise. After multiple attempts on this day, we were unable to receive an authorization for the two credit card numbers provided. The following day, the customer called back with three or four more numbers and they were not able to yield an authorization number either. Note: no stolen card or call Chase message came up on our handheld. The customer explained that since he was from Haiti and that that was where the goods would be shipped to, that sometimes their international credit cards have issues getting outside authorization - a plausible excuse, but we warned them that we would not be accepting anymore cards till they felt confident the card would process. The customer assured me this last one would and it did in fact pass the authorization stage. Given the variety of issues we had had with the other cards, we decided to contact Chase directly to confirm that we had legitimate authorization numbers and they confirmed that we did. I was still skeptical and called back again for a second opinion - again, the answer remained the same, the cards were good. Still concerned that foul play may be at work, I reached out to my sales representative Allan M and we discussed the case and he suggested we get the front and back of the card with a signature demonstrating the card was in fact there's. Good advice and when we asked for this information, the response received was cryptic and now we knew that something was awry. We held the shipment for three weeks and then we finally received a call from the cardholder of the $8000.00 transaction. He was relieved to hear that we had suspected foul play and that no items were shipped and when Mr. James W called to find out where his shipment was, we informed him that his fraud was unsuccessful and we never heard from him again. As expected, we received another call from a woman making inquiries about a transaction on her credit card and we eased her fears by assuring her that the perpetrators had been unsuccessful in the fraud attempt. As a result of this one transaction which we were able to thwart, Chase deemed us a high risk merchant and penalized us with a $6900 reserve amount that they would be taking from all our transactions moving forward. Needless to say, we cancelled our account with Chase when they rudely responded that these funds would not be returned till, at best, Feb 2020. That was eight months away. Their explanation being, what if another credit card payment gets deemed suspect. Given that no other transactions had ever been charged back this seemed a highly punitive move on their part. They then threatened that this was legally sanctioned and that they had no intention of making any concesssions. Worse still, the account was cancelled and the handheld returned on Aug 16th, 2019 and I was still having funds taken from my account on Sept 1st for transactions I didn't even process. I feel Chase has completely taken advantage of the consumer and has not only acted unethically, but arguably illegally as well. Holding my funds for a potential fraud after I have cancelled my account due to thwarting a real one, is counter-intuitive logic and I'm unclear as to how that would stand in court. No fraud was committed as the merchant was smart enough to catch it and yet the penalty assigned for swiping six unauthorized cards is $6900. That's over $1000 a swipe and that can't be right or even legal, even if I did sign my life away on one of there generic set-up applications. So if you're considering Chase Payment services, I highly recommend that you never swipe multiple cards as the penalties are egregious and they have no intentions of working with you. WORST CUSTOMER SERVICE EXPERIENCE EVER!!

As seller of $1K+ computers, we inevitably had a high chargeback and refund rate because we were always targeted for fraud. We would refund transactions that failed fraud checks and then have to represent the chargeback for already refunded transaction (huge waste of time). After 3 years, Chase kicked us to the curb with no appeals option and then added us to blacklist and they also froze money and took many months to return back. All because we had what they considered high refunds and chargebacks even though 99% of them were for fraud we caught, refunded, and then had to represent. We cannot control fraud occurring but we can catch it and refund the money which is what we did but what we got from it was Chase holding our money and adding us to blacklist. Paypal on other hand has been great. They never give us hard time about these refunds and chargeback metrics that are outside our control. They even extend us $100K of working capital. If you are merchant considering who to use, its a no brainer. Use Paypal since they will actually give you money versus taking your money and they will work with you instead of against you. Chase Payment is a terrible company to work with and you shouldn't trust any CC provider that makes their decision based off chargeback and refund metrics that are outside your control due to fraud.

Terrible company they breach my privacy very unprofessional people.never recommend