Local merchants need to be aware that Electronic Merchant Systems has decided to hold on to funds of certain merchants in town without reasonable cause. One of my regular merchants in Downtown Fort Collins contacted me today about a credit card transaction on October 19, 2011 for the amount of $43.02 whose funds they have not received. The problem was found during an accounting audit.
That amount was a valid credit card purchase. Neither the amount nor the purchase are in dispute. No fraud has been alleged. The money has been removed from my checking account. However, the merchant has not been paid. They have held on to my money without paying the merchant for almost two months.
Said merchant is out a sum total of almost $2000.00 on illegally held money, not just from my transaction but numerous others. I tried contacting them on numerous 800 numbers, but they were of the “I don't give a shit, we'll only talk to the merchant” (their client). Why not, they already have the money?
If you've had this problem as a business or consumer, please contact me at email@example.com to determine how many businesses/consumers have been affected. I'm also going to file a police report on the issue, because some company just can't convert my money to their own use and leave me with the liability for the transaction.
Electronic Merchant Systems
5005 Rockside Road
Independence, Ohio 44131