Well the IKV site wont let you order anything. Issac posted this
Originally Posted by Iken
Sorry guys,
It's been more of a 'bad' news situation.
From those nasty fraudulent charge-backs from the Philippines, There was 5 total and two from the US now totaling $4,500 in transactions alone, not counting lost product. Well, our credit card processor didn't appreciate that so much. So after 3 years IKV is now labeled as high risk and they're giving us 2 weeks before shutting us down. Our merchant provider has found a new bank for us, but they want 7.95% off every transaction. That's just robbery, but in all honesty I'm willing to do it, but have found alternatives yesterday.
The major issue is that our processor has been showing absolute zero activity since the 30th of March, meaning for all the orders we have been taking in since, we haven't been paid Anything. so every order we pack and dispatch is purely on my dime. We're owed $10,500.00. It's as if our back end was down for 2 weeks plus dispatching orders. You can imagine how difficult it is to run like that, we're talking over 500 orders shipped basically for free and at the cost of products, shipping supplies etc while paying to keep the business running. It definitely doesn't bode well considering I just purchased our first house this month.
I had spent the day tracking this stuff down and as it turns out..Well, when you make an order through us, it goes to Authorize.net, which sends it to Digital financial group, which sends it to Merchant-now, which is then sent to Cts holding, then to us. My merchant provider is merchant-now financial, he said the processor is NOT actively looking to shut ecigs down but we have been flagged by the risk department and they could be holding all of our funds. To find out more, I started calling calling everyone in the circle and the odd thing is, is that none of the mention groups knew what I was talking about and at the end they wanted to connect me back with Merchant-now. Extremely frustrating and confusing. I wish had cool super secret toys for you guys for this down time, but this is the ugly truth and I can't really re-open till I know the payments start coming through or I can get a grasp on what is exactly happening.
Sincerely,
Isaac