My family's business has an impeccable merchant account that allows us to take credit and debit card payments.in ten years we have not had one bad transaction.
Recently we were authorized to charge credit cards that were issued by the Chase bank in Delaware for merchandise purchased from our business. The money was promptly credited to our business account. However, Chase has refused to honor our receipts for these transactions.
As a result of this, our business account has been frozen, we have lost the money that had been paid to us for our merchandise and we have no way to recover our products!
Chase has just lost their number one position for credit card services in the U.S. I believe that Chase is knowingly issuing fraudulent credit cards that they have no intention of honoring. There is NO WAY for merchants to protect themselves from this type of fraudulent activity!
Upstanding, honest merchants are being sacrificed in order for Chase to stay competitive! As more and more North Americans depend on cards instead of cash, merchants have become completely vulnerable to this type of fraud.
Our business will never offer this convenience to our customers again. We certainly have learned the hard way but I hope that this forum might allow other merchants to make informed decisions when dealing with all, but especially Chase issued credit cards.
Shirley
Niagara Falls, Ontario
Canada
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