Quote: nestegg "You clearly know the facts. Don't want to fall out with you over this, but have you ever worked for a card payment processor multinational service provider such as Stripe? They are big, but often well hidden successful businesses, who are usually not daft enough to swiftly hand over all of the online monies they receive c/o a client if there's a risk that the product that has been purchased by customers/ fans (e.g.. a season's worth of home sports games in 2020) may not materialise. What we can agree on surely, and sadly, is that the Bulls is a tarnished brand. Credit card payment processors are a business, and not a charity. In the event of another administration (god forbid) then they may have to pick up the tab for any season tix that cannot be honoured. Would you take that risk?'"
I work in commercial development, specialising in credit cards for one of the main high street banks.
Where you refer to a payments processor, presumably you are referring to the acquirers role within a card transaction. The acquirer usually has no right to withhold funds and the merchant will normally receive their funds within 2-3 working days.
The acquirer isn’t creating any additional risk for themselves by prompt settlement of transactions, given any section 75 claim would be issued against the customers bank. The transaction goes customer>merchant>acquirer>card processor>bank.
Stop pretending to be a group of well informed fans when you’re in fact a stirring sad bloke with too much time on his hands.
