Digital Transaction News:
In a move that could have a bottom-line impact for an untold number of independent sales organizations, First Data Corp. is sending letters to client ISOs notifying them they owe fees to the Atlanta-based processing giant to compensate for shortfalls in processing volumes. While it’s not clear how many such letters First Data has sent, the notices are apparently aimed at ISOs whose volumes in 2009 fell short of minimum levels set by contract. The letters ask recipients to remit sums to First Data equal to the processing fees it would have earned on the shortfall. <read more>>
In a move that could have a bottom-line impact for an untold number of independent sales organizations, First Data Corp. is sending letters to client ISOs notifying them they owe fees to the Atlanta-based processing giant to compensate for shortfalls in processing volumes. While it’s not clear how many such letters First Data has sent, the notices are apparently aimed at ISOs whose volumes in 2009 fell short of minimum levels set by contract. The letters ask recipients to remit sums to First Data equal to the processing fees it would have earned on the shortfall. <read more>>
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