Company Issues Statement to Disavow Practice of Withholding Reserves from Customers; Calls for Industry to Follow
ALPHARETTA, Ga (July 8, 2020) – MerchantE, a leading end-to-end digital commerce platform, reaffirms its commitment to growing businesses in response to recent reports of payment companies withholding money from customers.
Addressing the topic, MerchantE’s CEO, Mike Rouse, states:
“Small businesses are the foundation of the U.S. economy. They account for 99.9 percent of all U.S. businesses and are the most vulnerable during challenging times, such as the global health pandemic we’re all facing today. With limited cash flow and capital, it’s more important than ever for financial partners to support these growing businesses, opposed to taking advantage of them for personal financial gain.
As a payment provider, it’s our singular focus to help businesses manage their money. In policy and practice, we do not regularly or systematically withhold a portion of our clients’ funds. It’s their money. It’s our role to make it as easy and fast for them to access it. We would like to see this pledge from entire industry.”
MerchantE’s Commitment
For more than 20 years, MerchantE has been committed to assisting small businesses manage and grow their money – securely and transparently. In response to COVID-19, the company waived the monthly fees on its most popular services to help customers continue to operate without burden. In addition, it recently launched same-day funding for established clients to allow for quicker access to funds.
For more information on MerchantE and its payment platform, visit www.mechante.com.
About MerchantE
MerchantE provides a financial technology platform that drives digital commerce and supports the money management needs of growing businesses. Our customers gain a competitive advantage with our services to revolutionize the way they bring money in, move money out, and make money decisions. We help our partners by offering tools and revenue streams to integrate, self-brand, refer, or resell our products and services. MerchantE has 300+ employees and is located at 1150 Sanctuary Parkway, Suite 300, Alpharetta, GA, 30009. For more information please visit www.merchante.com
