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  1. #1

  2. #2
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    "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%.

    --
    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.
    "

  3. #3
    Senior Member Reputation points: 3217 CO1's Avatar
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    An I heard a rumor that they weren't funding as much as they used too an sending it out to the bigger guys. .

  4. #4
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    Quote Originally Posted by CO1 View Post
    An I heard a rumor that they weren't funding as much as they used too an sending it out to the bigger guys. .
    you talking about mca deals?

  5. #5
    Senior Member Reputation points: 3217 CO1's Avatar
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    Yes, I am talking about MCA Deals. . .

  6. #6
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    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

  7. #7
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    It's always fun to watch CC processors in the MCA space

  8. #8
    First Data may get lift from infusion of money.

    http://www.omaha.com/money/first-dat...m_medium=email

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