Innoviative merchant Solutions the most sophisticated and innovative way to scam merchants.
Before I started processing with innovative merchant solutions, I red so many rip off reports, complains about innovative merchant solutions where people say that innovative merchant solutions stealing their money and I thought that because a lot of people do not understand technology they get banned by the processing companies and that they get attacked by hackers using fake credit cards etc
I thought that I am different, I understand security and probably others get banned due to hackers. I thought that I will sign up with innovative merchant solutions and give them a shot.
I am web developer with many years of experience developing credit card security systems.in the past I worked for major banks worldwide and I know security from programming perspective like nobody else. I don't even use security mechanisms provided by gateways and implement my own custom way in my code. It proved to work. I got about 1 chargeback (over 8 months) at $100,000 processed with linkpoint and chargeback was because customer was not able to recognize transaction. My system makes phone call during checkout to customers and does not allow transaction to go through unless they enter pin number they are given over the phone. I use other tools by maxmind, tools that verify address and location of the IP address to billing address etc and a lot more.
I only gave Innovative Merchant Solutions about 10% of my processing to see how it goes. First few weeks it was great. One major issue was authorize.net stupid security tools. When authorize.net can't verify address, it places temporary authorization yet returning decline status and when customer looks at the statement, they see these authorizations every time they try to process new transaction. You know when you tell customer transaction is declined; they try it again and again (at least 3 times). Try to explain that process to customer. When I called authorize.net and asked why they are doing it, I was told that they do it just in case if you want to process that particular transaction later, you can do so manually. So they expect me to tell every web customer if your transaction declined don't worry I will process it later or I am sorry you have 10 temp. Authorizations on your statement. STUPID.in any case it probably raised flag and some customer called innovative merchant bank and complained.
Without letting me know, innovative held all of my deposits and when I called them to find out, I was told that there no hold and I can keep processing. Next day I called and I heard same story and I was even told to call my bank and find out why there no deposits.innovative reps were trying to postpone telling me that there is a problem so they can steal more money from my processing. When I called for the 3rd time, I was told that there some kind of hold and it was removed (!?!?!?!?), but it was not removed.innovative was trying to make me process as much as possible so they can hold all that money Lying to me!!!
I told customer service rep. That I will not process a single transaction and I was told that some lady by name Jennifer in security department is holding money and that she will call me.
When she called, she told me that there is a chargeback (1 chargeback) that came recently (most likely b/c customer is confused about that authorize.net temporary auth.) and when I asked her about the name of the customer or why chargeback came, she said that she don't know (!?!?!?) and that later I will receive it in the mail. I told her that I process with First Data and that the only reason why I need their merchant account is to save money is to pay less % in fees, she automatically told me that they don't like dual processing and that it's better if I were to process with First Data. I could not believe what I heard!!! Next she said that if I want to keep processing with innovative, she will need to place 15% rolling reserve or if I decide to close merchant account she will hold all of the funds for 6-9 months because they anticipate more chargeback's.
Sure I closed merchant account as I will not deal with such dumb way of handling the situation (if any). Sure I will NEVER NEVER even come close to innovative for processing and if there a lawsuit against them I will be the first one to participate.
As of now I am so tired of dealing with idiots and I switched my business to Google checkout 100% as Google checkout is the best and most legit processing business I ever came across. Thanks to Google checkout and I hope that these idiots at innoviative who think they are in control go down, get fired and innoviative will lose its business!!!
I don't understand where US congress is looking at??? This is 100% monopoly. These processing companies don't care about small business and they do everything possible to steal money from them promoting larger enterprises. This is perfect example why USA economy is in deep sh*t!!!
Georgiy K
Zhorakiev
Gaithersburg, Maryland
U.S.A.
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