This big international organisation has stolen money from thousands of small businesses and defrauded probably hundreds of thousands of credit card users.
Thousands of businesses trusted unknowingly First Data to collect Credit Card payments on their behalf from hundreds of thousands of customers.
After all a company licenced by Visa International and MasterCard International with offices in the US, UK and other countries with strict financial regulations MUST be safe and honest mustn't it?
In a case that proves that both government regulation and Visa and MasterCard's rules protect NOBODY but themselves, First Data have misappropriated many many payments (total figure unknown) paid in good faith by credit cards holders for services they expected to receive. They have done this as a weapon in their dispute with the intermediary company IBill.
Now the merchants who have sold the services are left with a dilema. Do they give their customers the services even though they have not been paid and have no idea when or if they will be paid? Or do they cut the services their customers have paid for, risking heavy Visa and MasterCard imposed "fines" for chargebacks?
Regulators stand by and do nothing.
Visa and MasterCard, as usual, allow big crooked firms to steal money from their own clients.
Livelihoods are in jearpody while this massive company is too big and too uncaring to even answer emails addressed to it from those they are hurting.
Do NOT trust First Data's fine promises about their efficiency and customer service. You may not know you deal with them, I didn't. Ask whoever handle your payments if they deal with First Data. If they do ask them to put in writing what provision they have for when First Data steals the money THEY are owed.
Complain to the regulators in YOUR country that First Data is not fit to be allowed to handle credit and should have its licences revoked and its directors prosecuted.
Complain to Visa and MasterCard to demand action against First Data. After all, the credibility of the security of credit cards is now at stake. If they allow one company to steal money in this way, we can never trust Visa and MasterCard's promises again.
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