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12-06-2013, 06:08 PM #1
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12-06-2013, 07:18 PM #2
"If you think your credit-card bill is high, check out the debt on the company that likely processes your credit-card transactions, runs your neighborhood ATMs or verifies that your checks will clear.
First Data Corp. is drowning in about $23 billion in debt, paying credit-card-type interest as high as 11.75% at a time when the yield on a 10-year Treasury note is 2.7%.
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First Data reported a $3.8 billion loss in 2008, and has lost money every year since—more than a half-billion dollars in 2012. It reported a $220 million loss for the quarter ended in September.
The credit-card transaction company is much like a consumer who ran up too much credit-card debt and may never be able to pay it back.
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12-07-2013, 12:09 AM #3
An I heard a rumor that they weren't funding as much as they used too an sending it out to the bigger guys. .
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12-07-2013, 01:11 AM #4
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12-07-2013, 11:45 PM #5
Yes, I am talking about MCA Deals. . .
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06-10-2014, 07:30 PM #6
- Join Date
- Apr 2014
- Location
- New York
- Posts
- 274
First Data
first data used to work directly w back of America. recently BOA handles thier own processing. they wont turn splits on for anyone. I don't use them for merchant accounts as thier applications are HUGE, they are too picky, pricing is far from decent, and well they just suck. they used to be the only processor that could offer next day funding until tsys and others followed suit...they now have no advantage and are worthless to me. they also love to brand thier terminals and lock them so they can't be reprogrammed. always hated first data. /rant
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06-20-2014, 09:30 AM #7
- Join Date
- Jan 2013
- Location
- Berlin, CT
- Posts
- 191
It's always fun to watch CC processors in the MCA space
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06-20-2014, 03:10 PM #8
- Join Date
- Sep 2012
- Posts
- 75
First Data may get lift from infusion of money.
http://www.omaha.com/money/first-dat...m_medium=email
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