[channin19]

They are telling anyone who will listen that they have a "low single digits" default rate. Well that's not too hard to do when you pick your best 300 performing and "seasoned" merchants and put them into the securitization. The information they decided to leave out was that the rest of their portfolio is gigantic train wreck with default rates closing in on 30%.

Their ISO / Referral channel has a higher default ratio.
As far as the people go everyone may be drinking some kool aid over there ( I heard they have beer on tap too) but everyone has been very easy to work with. And more importantly I've never had a merchant complain about how they were treated by them (service wise not necessarily pricing) .