The company X Charge or Accelerated Payment Technologies who processes credit cards for my business updated our computer software in July upon updating the software X Charge installed in our computer a merchant service number for a company 2000 miles away. The result of the wrong merchant service number provide all the transactions we accumulated over 5 weeks to be deposited into another business's checking account that is not associated with my company.
The loss of revenue has distresses my company and financially hindered our survival. After several weeks X Charge did install the correct merchant service number into our computer and deposit's were then received correctly. However the loss of income has resulted in several thousands of dollars in late charges penalties and bounced check fees totaling over $35,000. The snowball effect of late payment fees and penalties has potentially risked the existence of our companies success. The accounting to find the errors continue to grow each day with no concern from X Charge.
A small business expect professional services such as credit card processing to be accurate and precise and this is exactly what X Charge is not. To this day we have no resolution from X Charge and continue to fight off the accumulated fees we have incurred over the past 3 months. Beware before you chose this company to process your credit cards they are very happy to deduct any fees from your account but never willing to accept any responsibility for their failure to perform.
0 comments