AffiliateWIDE Losses Check Processor, decides to take money back from own affiliates

[AK]

To all AffiliateWIDE Affiliates,
This e-mail is being sent to let you all know that we have lost one of our Echeck processors.
GlobalATM (GATM) was a key processor for AffiliateWIDE, and unfortunately, it appears that they have gone offline and cannot be contacted.
We were aware that the processor was having issues with its name Global ATM and GATM being promoted across affiliate gambling sites. We had been contacted many times by GlobalATM regarding this matter and made every attempt to work with them to remove this text from those sites involved.
Unfortunately AffiliateWIDE will not be able to take these losses from GATM, and those affiliates who have earnings from this processor's deposits will have those earnings deducted.
I know that this news is going to upset many affiliates. Please remember, in the past when this type of thing has happened (ewalletxpress, MasterCard and any other CC) we have always taken these loses upon our program, meaning that our affiliates were paid in full.
The adjustment in affiliate earnings will be made on 31st March.
Best Regards,

-Steve Rubin

[RobSmith]

Thanks for the news post. That will be very annoying for many people.

[Jamie - RateMyCasino]

Deck media are doing the same. Looks like alot will be doing this.

[arkyt]

Anyone have a break down of exactly whats going on here? Ive been lucky enough to not be caught up in any of these issues and I'm confused as to whats going on exactly. I'm having trouble understanding how they occurred losses - why would an ATM card service actually be holding a sum of cash?

Thanks

[Jamie - RateMyCasino]

I would assume its abit like Neteller. When depositing using a service the money is then transferred to the casino processing account. Then i would think the casino can transfer that to their bank accounts. But if they have gone offline they wont be able to do that meaning loss of money.

I do think it is unfair to take that from the affiliate as the casino chose to use that processor. Why is it the affiliates fault, they sent a depositing player. It isn't the affiliates fault that the casino loses out because of a business deal gone sour with a processor. I think casinos will need to re-think this as they are in turn stealing from the affiliate to cover their loss.

[arkyt]

What I am failing to understand is - did the casinos have the money in their accounts prior to the players being premitted to gamble with the deposits or not? If the casinos did not have the money in their hands why would it be credited to the affiliate in the first place?

[Jamie - RateMyCasino]

What I am failing to understand is - did the casinos have the money in their accounts prior to the players being premitted to gamble with the deposits or not? If the casinos did not have the money in their hands why would it be credited to the affiliate in the first place?

Good Point