PAYMILL / CYBERservices Europe S.A in Trouble
We have a few clients we have created stores for and we were shocked on Monday when we started receiving emails from a few of the store owners that they received emails from PAYMILL who are part of the Klik & Pay Group. The email stated the following:
Unfortunately since the evening of 23rd of July several merchants are having issues with processing credit card transactions.
After initially expecting a technical issue we can now confirm that technically our system is working as expected.
CYBERservices Europe SA for their acquiring is temporariliy suspended following a decision of CSSF the Luxembourg banking authorities.
All merchants related to this acquirer can currently not process any credit card transactions.
SEPA transactions as well as PayPal and transactions to other acquirers are not affected.
We are currently moving the affected accounts to different acquirers in order to resolve this issue for you.
In some cases it might be needed to sign an additional contract in order to be active as soon as possible.
When that is the case for you, then we will get back to you once this is available.
The email go's on with some pre written questions and answers most importantly I think for many stores is this one:
Q: Is my money secure?
A: The money from the processed transactions is hold on a trustees account and is secure.
More worrying is this one:
Q: I cannot make a refund anymore. What to do?
A: Unfortunately due to the suspension the acquirer can neither perform transactions nor refunds at the moment. In urgent cases please consider making a direct wire transfer from your bank account to the end customer.
Yes they are actually saying to many of the people we have spoken to that they cant guarantee you will receive your next card settlement payment, only CSSF can advise you. But they are also saying you should go ahead and refund customers from your own money. How can stores refund their customers, with what money PAYMILL? you guys have it!
Having spoken to a few retailers both on and off shopify that we work with, some are saying that PAYMILL are offering little help or information with regards to money's which have been paid by their customers or which are being held in reserve by PAYMILL. Some have been told that they would have to contact the CSSF in order to receive their next card settlement payments. Many have emailed the CSSF and no one to our knowledge is yet to receive a reply.
I am wondering just how big this is? because we are talking about 4 or 5 retailers that we know of first hand who are effected by this and are being left in limbo not know if their next card settlement is going to be paid or indeed if they will ever see the money that is being held in reserve again.
Can anyone who is affected by this get in touch with me by posting below so that we can share information about what is being done, what is working and what isn't working for you?
Anyone received anything? They are still holding my reserved fee for over a year now and they are not answering on mail?
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