As you may know, Thursday, August 30th, Mercury activated the MercuryStand-In™ authorization service in response to a network issue their backend processing partner Global Payments, Inc. was experiencing. The issue took approximately 45 minutes to resolve, but MercuryStand-In was specifically designed to safeguard against network downtime and we’re proud to say it worked perfectly at keeping merchants up-and-running and actively processing.
During the stand-in period, Mercury approved all transactions up to the merchant’s floor limit and we have now begun a rigorous review process to ensure there is no financial loss to merchants for any declined transactions, and to expedite batch funding. In addition, in anticipation of the increased transaction volume over the coming holiday weekend, Mercury has increased staff coverage for transaction monitoring to ensure continuous processing for our merchants.
All told, Mercury estimate the safeguards and procedures employed helped merchants process approximately $2,000,000 in transactions, which represents a significant amount of “saved” revenue. Mercury hopes you see as much value in these solutions as we do and they thank you for your patience and cooperation.