Payment processor: Latest News, Top Stories & Analysis

Federal Trade Commission Finalizes Order Against Electronic Payment Systems for Opening Credit Card Merchant Accounts for Fake Companies

June 2, 2022May 31, 2022 - by MyChesCo

WASHINGTON, D.C. — The Federal Trade Commission says it has finalized an order against Electronic Payment Systems for allegedly opening credit card processing merchant accounts for fictitious companies on behalf of …

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FTC Imposes Restrictions on Electronic Payment Systems

March 17, 2022March 16, 2022 - by MyChesCo

WASHINGTON, D.C. — The Federal Trade Commission filed an administrative complaint this week against Electronic Payment Systems and its owners, John Dorsey and Thomas McCann, for allegedly opening credit card …

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Payment Processor Will Pay $2.3 Million as a Result of FTC Case

March 15, 2022March 14, 2022 - by MyChesCo

WASHINGTON, D.C. — A payment processing company that allegedly helped a bogus discount club scheme debit tens of millions of dollars from consumers without authorization will be required to pay $2.3 …

National

Four Defendants Settle with the FTC for Their Alleged Role in Credit Card Laundering Scheme

February 14, 2021February 11, 2021 - by MyChesCo

WASHINGTON, D.C. — The Federal Trade Commission announced that it has reached settlements with four defendants charged with helping to launder millions of dollars in credit card charges through fraudulent …