First, let's get our facts straight. Jettis did NOT pass on fines to all clients, only to those who were in violation of MasterCard's regulations. Many of our clients were not effected by these fines at all.
In addition, Jettis absorbed millions of dollars in fines that were not passed on to clients. For those that we did pass along fines to, we did it in a way that would least effect their cash flow - spreading the fine out, taking from reserves, etc.
Anyone who thinks that no other processor will pass on fines, is very naive. At least one of our major competitors has already publicly stated that they will also be passing on fines. Others are holding out as long as possible, but will ultimately have to pass along fines or delay payments.
The fines that are being levied against all the major processors are so excessive that they far outweigh what processors earn in net profit, so it is not feasible for any processor to absorb fines over the long term.
Some people have a very short memory in this business. Do we not remember how other processors just stopped paying clients or delayed payments for weeks on and off for years? Jettis dealt with this issue head on, we were honest with our clients and have continued to pay them on-time.
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