Merchant services company destroys Frontier Airlines
If you didn't see the article yesterday in USA Today. Frontier airlines has filed bankruptcy not because they weren't making enough money but because their credit card processor First Data aka Card Service International is holding their money and refused to release the funds from customers who paid for their ticket via credit card (aka everyone)
I wrote a post about this a year ago as they did the same to me which bankrupted my company (i could pay any of my bills because they wouldn't give me the $12,000 they owed me)
This company has been scamming people out of their money for years and its nice they did it to a big name company. i hope they get sued and or investigated and shut down. (btw i have only received $3,500 of the $12k i am owed to date)
Also if you have a First Data merchant account (or your parents for their business) I suggest you run fast and find a new company as most likely they will be sued, investigated and probably (hopefully) put out of business.
Since some dont know what a merchant services company is.. Its what allows business's to accept credit cards. When you go to walmart, a local restaurant etc and pay with your credit card. You money goes to that companys merchant service provider, the provider then takes out their fees (about 2%) then send the money to the business's bank account. Basically instead of sending frontiers money minus their processing fee, they just held everything and refused to send them their money.
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Last edited by pbdude911 : 04-16-2008 at 02:38 PM.