Headline FeedsE-Commerce Times Talkback
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See Full StoryOnline retailer Buy.com might have to close its doors because its credit card processor
plans to end their relationship on September 1st, according to Buy.com's quarterly filing
with the U.S. Securities and Exchange Commission (SEC) this week.
"Buy.com will probably end up getting a new credit card processor in the 11th hour,"
Forrester analyst James Crawford told the E-Commerce Times. "But it will have to pay
incredibly high rates, which will hurt its margins even more."
Re: Credit Card Woes Might Close Buy.com
Posted by: D. Ballard 2001-08-23 14:34:51 In reply to: Mark W. Vigoroso
Mark, you left out the most important info in the article. . .why did the credit card processor threaten to sever the relationship? Too much fraud or what? Thanks for your reply. DB
Re: Credit Card Woes Might Close Buy.com
Posted by: ghmrhsc 2001-08-23 15:33:30 In reply to: D. Ballard
yeah..second THAT!! The rest of us in the Internet ECommerce credit card conundrum (both companies) want to know why they were booted and who was the processor? FDMS, CMS, Paymentech, or who?
thanks
