Jettis passed Mastercard fines?

05-21-2003

In an effort to further clarify facts, our approach to this problem, we felt, was an opportunity to differentiate ourselves in the marketplace with respect to how the issue was handled. This was our first real hit/fine in our 5+ year history. Over time, we've seen some of our competitors handle these issues well and others, not so well. It was important to us that we ease the burden for clients and, in every case possible, ensure that the cash flow of our clients was not affected so they could continue to run their businesses. Nearly every client is back on track and receiving full payments each week. If we are successful receiving fine amounts back (we are diligently fighting the fines), we will most certainly refund reserve balances to all clients that were affected. The industry has gone through many challenges and will go through many more. Jettis is well positioned to endure them.

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05-21-2003	#14
Kjell Guest Posts: n/a	In an effort to further clarify facts, our approach to this problem, we felt, was an opportunity to differentiate ourselves in the marketplace with respect to how the issue was handled. This was our first real hit/fine in our 5+ year history. Over time, we've seen some of our competitors handle these issues well and others, not so well. It was important to us that we ease the burden for clients and, in every case possible, ensure that the cash flow of our clients was not affected so they could continue to run their businesses. Nearly every client is back on track and receiving full payments each week. If we are successful receiving fine amounts back (we are diligently fighting the fines), we will most certainly refund reserve balances to all clients that were affected. The industry has gone through many challenges and will go through many more. Jettis is well positioned to endure them.