First Data Corp., the back end platform for thousands of credit card processing companies, revealed today to it's processing partner companies that they duplicated the ACH payment for July processing fees on one of it's largest platforms.
First Data is still reviewing to see how many merchants are affected, but the number could be in the hundreds of thousands. First Data is also explaining that the ACHs may not be for the same amount. For instance if a merchant owed $200 for their July processing the first ACH would be $200 and the second $203 or some other close but not exactly the same number.
The company hopes to have the reversal file built today. Once the file is built they expect to be able to deposit refunds within 24-48 hours.
Reportedly the company will be working with any merchants that incur NSF charges as a result of the incident. They will require documentation and ask that you contact your processing company if this has occurred.
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