- Report: #835775
Complaint Review: Harbortouch
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| Harbortouch 53 Frontage Rd, Hampton, NJ 08827
Hmapton, New Jersey United States of America |
|
Harbortouch United BankCard, Jared Isaacman Harbortouch, formerly UnitedBankCard Refuses to Pay Sales Reps Residuals Hmapton, New Jersey
*REBUTTAL Owner of company: The facts...
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Merchant Processing (credit card processing done by stores, websites, etc.) are most often sold by independent sales reprs (ISO's or Agents). ISO's earn a bulk of their compensations from a percentage of card processing fees, in the form of residuals.
Harbortouch (formerly United BankCard) contracts with ISO to pay these fees one month in arrears, over the past few months this time frame has slipped to 5 weeks, and as 2/9/2010 it has extended to 7 weeks. ISO have to call and enquire about their residual payments - Harbortouch doesn't announce delays.
Calls, emails, etc to supervisors & middle managers go un-responded to. No one is ever available, so when you do get a live person, all they say is "we are waiting on senior managers to let us know when the residuals will be released..." If you can get transferred to a manager - the call goes straight to voicemail.
Harbortouch knows that ISO's don't want to switch their clients to other processors that pay their residuals on time; it results in their clients paying extra fees, and incurring transition headaches.
It is easy to understand hoe Jason Isaacman was included in the list of most successful college dropouts, he has his sales force to finance him - with our without their permission Jason Issacman Worth $50 million
Dave, Baltimore, MD
Harbortouch (formerly United BankCard) contracts with ISO to pay these fees one month in arrears, over the past few months this time frame has slipped to 5 weeks, and as 2/9/2010 it has extended to 7 weeks. ISO have to call and enquire about their residual payments - Harbortouch doesn't announce delays.
Calls, emails, etc to supervisors & middle managers go un-responded to. No one is ever available, so when you do get a live person, all they say is "we are waiting on senior managers to let us know when the residuals will be released..." If you can get transferred to a manager - the call goes straight to voicemail.
Harbortouch knows that ISO's don't want to switch their clients to other processors that pay their residuals on time; it results in their clients paying extra fees, and incurring transition headaches.
It is easy to understand hoe Jason Isaacman was included in the list of most successful college dropouts, he has his sales force to finance him - with our without their permission Jason Issacman Worth $50 million
Dave, Baltimore, MD
This report was posted on Ripoff Report on 02/08/2012 05:35 AM and is a permanent record located here: http://www.ripoffreport.com/r/Harbortouch/Hmapton-New-Jersey-08827/Harbortouch-United-BankCard-Jared-Isaacman-Harbortouch-formerly-UnitedBankCard-Refuses-t-835775. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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Search Tips#1 REBUTTAL Owner of company
The facts...
AUTHOR: Chris rotondi - (U.S.A.)
SUBMITTED: Wednesday, February 08, 2012
Since I was named personally in this, I felt it was appropriate to respond. In addition, as the founder of the company, I take considerable offense to any accusation that damages the credibility and contributions of so many hard working people. United Bank Card, Inc d/b/a Harbortouch, has over 4000 contracted Independent Sales Offices (ISO's) / sales representatives. We have been in business since 1999 and have paid residual commissions that entire time. I started the company when I was 16 in my parents basement. It is has grown to become one of the largest companies in the industry. That growth has largely been the result of hard work and dedication from our sales representatives. I dont think the company would have lasted very long if your accusations were correct. Our entire business model actually depends on the support of our sales representatives.
Here are a few facts.
1. In our history we have paid over a quarter of a billion dollars in residual commissions.
2. Last year, 2011, we paid over 30 million in residuals. Our largest year thus far.
3. We have two commission files that go out each month consistently. There is no question that the file can go out + or - 4 or 5 days. This largely depends on our banks, processors, and other agencies that have to report data on over 130,000 customers, processing over 10 billion dollars a year in credit card activity. If they are late, it delays calculations. One thing for sure, is that each month those files go, we always pay early based on the standards of our contract, and have been doing this process for over a decade.
From what it sounds like to me, your contract was most likely terminated. Given that we have over 4000 ISO's getting paid residuals and less than a handful that were ever terminated in our entire history, I probably am aware of the circumstances and your self-inflicted actions that resulted in your termination. Regardless, I am willing to discuss the matter with you, despite the inappropriate venue that you utilized to raise the concern. Feel free to e-mail me at your discretion. - Jared Isaacman, CEO
(BTW, that is the correct spelling of my name, not Jason Issacson as you spelled in your post. Also, I was not a college dropout. I was a high-school dropout. )
Here are a few facts.
1. In our history we have paid over a quarter of a billion dollars in residual commissions.
2. Last year, 2011, we paid over 30 million in residuals. Our largest year thus far.
3. We have two commission files that go out each month consistently. There is no question that the file can go out + or - 4 or 5 days. This largely depends on our banks, processors, and other agencies that have to report data on over 130,000 customers, processing over 10 billion dollars a year in credit card activity. If they are late, it delays calculations. One thing for sure, is that each month those files go, we always pay early based on the standards of our contract, and have been doing this process for over a decade.
From what it sounds like to me, your contract was most likely terminated. Given that we have over 4000 ISO's getting paid residuals and less than a handful that were ever terminated in our entire history, I probably am aware of the circumstances and your self-inflicted actions that resulted in your termination. Regardless, I am willing to discuss the matter with you, despite the inappropriate venue that you utilized to raise the concern. Feel free to e-mail me at your discretion. - Jared Isaacman, CEO
(BTW, that is the correct spelling of my name, not Jason Issacson as you spelled in your post. Also, I was not a college dropout. I was a high-school dropout. )
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