is shareit.com a scam payment processor ...?

Q

qalott

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Jun 30, 2010
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anyone got an account on shareit.com for payment processing...?
i have a very bad experience with this company..!

i opened an account with this payment processor in May 2012.. after that, whenever i got an order, i would get email notification of this order.. based on the order, i would send the software to my clients.. everything was going good..

but now when i have reached my payment threshold and have asked the accounts department to send the payment to my bank, then on 10 September one of there representative replied me;

"I contacted our risk management to aks them if you get paid this month. As sonn as i get the answer i will let you know."

on this reply, i have sent them 2 emails , one on 16 and second on 19th september, but still i haven't received a single reply from them .. moreover today when i tried to login my shareit control panel then i get the message "Sorry, your Control Panel access is currently not active!"

is it a sign that they are trying to scam me and steal my hard earned money...???

there customer support is pathetic.. no live customer support, as far as emails are concerned, they don't bother to reply..

in this situation what should i do..? any suggestions in this regard would be highly appreciated.. i am highly indebted nowadays and i was relying on the payments owed by shareit.com .. but they have disappointed me... :(
 


qalott said:
no...
i searched google for payment processors.. found this bullshit processor from google and trusted them...!!! my biggest fault... :(
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Well since they're already mentioning the risk department, they're probably going to hold your money for 6 months best case. Worst case, you might be totally shit out of luck.

Did you do anything like change your site design after they approved your website?
 
jfizzle said:
Oh look who it is Blue china group man!!! With his optimistic view of the world being a bundle of flowers and unicorns.
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Are you going to be a dumbass troll or are you going to provide some help to the OP?

Credit card processing is something I have experience with, and it's anything but bundles of flowers and unicorns. Bankers are the worst, and it's probably something we can both agree on.
 
bluechinagroup said:
Well since they're already mentioning the risk department, they're probably going to hold your money for 6 months best case. Worst case, you might be totally shit out of luck.

Did you do anything like change your site design after they approved your website?
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but why holding my funds for 6 months...!!! they didn't sent me single warning notification email for any TOS violation if i did any .. thats not fair...

my website design.. all content on the site .. everything is exactly same as was during signup process..
 
qalott said:
but why holding my funds for 6 months...!!! they didn't sent me single warning notification email for any TOS violation if i did any .. thats not fair...

my website design.. all content on the site .. everything is exactly same as was during signup process..
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Did you read their terms of service? Have you had any chargebacks? If so, do you know what your chargeback ratio is?

Any credit card processor will hold your funds for 6 months due to excessive chargebacks. It's usually over 2% for non US processors, but third party processors may be even more strict.
 
CCarter said:
Yes ShareIT.com Is a SCAM. For some reason, you didn't do ANY due diligence on the company. Simply Googling the company, you'll see on the FRONT PAGE, a digitalpoint.com thread, stating the exact same thing... FROM 2007!!!

Shareit.com issue!

Good luck bro.
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Looks like you're SOL qalott. It would best for you to chalk this up as a life lesson and move on to the next thing. I'm sure now you'll always do your due dilly to avoid a problem like this.
 
Weird - I use esellerate which is under the same digital river umbrella and have no issues with payment - makes me wonder now though.
 
Shareit.com is a large type of scam, I had used it with the suggestion of one of my frnd, but at last I got some wast of time. So Avoid this company.
 
i think if all the victims of shareit.com fraudulent website get together and combine to take some sort of legal action.. or may be file some petition then these scammers would learn the lesson ... and if we do it effectively then we can save many hundreds of new victims from there fraud... i think its the time to take action against this digitalriver group..

what do you suggest ..?
 
I received the following email from shareit.com accounts department on 25September 2012 and was promised to be paid by April 01,2013.

"Your account is in review.
Our risk management team is working on your account, especially your
chargeback rate is in review and the risk-team can set up your account
"on hold" up to 6 months.
Please be informed that you will be contacted by us as soon as your
account is on normal selling.
Kindly be informed that we will pay all outstanding sums when review
stopped, until 1st of April 2013."

today is 22April,2013 and i am still waiting for my payment... !
i know that its a total fraud company..
can someone give me any suggestion of how to recover my payment from these thugs/looters...?
 
dunno, you could ask?

just throwing ideas out there
 
You realize that Digital River is one of the largest processors in the world for digital/downloadable goods, right? As in, Amazon has used them in the past (might still?). They are a publicly traded company, but you make it sound like they were some fly-by-night operation set up just to try to steal from you individually.

Becoming a licensed payment processor/aggregator with Visa/MC is not an easy task. If I had to guess, you probably had a high chargeback ratio on a new account (its a bigger risk on non-physical goods where nothing is shipped), it got flagged by one of the big guys (Visa/MC) and they are going to look into it. The contract you signed with them says they can do this, and if you don't have any reserve accounts with them they are going to do what they need to do to protect themselves and the card brands.
 
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