BusinessWeek: Cash Vanishes from Merchants’ Accounts

May 2, 2009

In a story titled “Cash Vanishes from Merchants’ Accounts”, Amy Barrett and Jeremy Quittner write for BusinessWeek about how some merchant acquirers are imposing new reserve requirements on some of their card accepting small business merchants.

Most processing agreements give the transaction giants the right to accumulate those reserves simply by holding back money the merchant is supposed to be paid after a credit-card transaction has cleared, often with little or no warning.

Continue reading the article at BusinessWeek

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