I recently used the BuyButtonz payment service and
now they OWE my company almost $280,000 SGD!!!
My Company only signed up because I saw BuyButtonz on
( Singapore's largest online payment gateway, who has filed a defamation suit on me for stating what I have experienced and deem as true facts or fair comments of the case on this blog. In order for me not to incur lawyer fees in the law suit, I will have to abide and obey their demands of removing all instances where their name is mentioned.)
Although the VP of ( Singapore’s largest online payment gateway) has promised to ensure that he will see that BuyButtonz which is powered by Chainfusion Ltd and share a Merchant ID with Singapore's Largest Online Payment Gateway will resolve this, but till today 14th September 2008.
It is yet to be resolved.
CHAINFUSION LTD
How many of you out there have ever heard of this
Chainfusion Ltd ? Before I got bitten by BuyButtonz,
I NEVER heard of them too...
19th February 2008...
Payout NOT RECEIVED.
Only when I noticed that after the 45 Day Period, I still did not receive my payout on the stipulated date did I start to worry. When this happend, I of course looked for the one I knew and trusted, Singapore's Largest Online Gateway. To my HORROR, Singapore's Largest Online Gateway's hotline knew nothing about how to collect Payouts for BuyButtonz!!!
I then frantically went to the BuyButtonz website ( http://www.12epay.com/Payme.aspx ) and clicked on the logo of the only other company on BuyButtonz besides Singapore's Largest Online Gateway.
Only then did I realise that BuyButtonz is:
Singapore's largest online payment gateway,
(?) tied up with Chainfusion Ltd,
an online payment software and services provider
to launch this service called BuyButtonz.
Payment Gateway (?):
A payment gateway is a type of service provider that transmits, processes, or stores credit cardholder data as part of a payment transaction. They facilitate payment transactions such as authorizations and settlement between merchants or processors, also called endpoints. Merchants may send transactions directly to an endpoint or indirectly using a payment gateway.
Service Provider ( Chainfusion Ltd ):
A vendor that provides access to the Internet and to applications to facilitate the transfer and/or storage of credit card information. The following link provides a complete list of PCI Compliant Service Providers.
(Please note, this list is maintained on Visa’s website.) http://usa.visa.com/download/merchants/cisp_list_of_cisp_compliant_service_providers.pdf
JUST THE BEGINING OF MY HORROR STORY
(Based On True Life Experience and is still ongoing...)
I was so disappointed and fearful
all this while I was under the impression that
Chainfusion Ltd
is only a payment software provider
or info technology services provider and
Singapore Largest Online Gateway,
which is wholly owned by several banks in Singapore
is the one I entrusted all my money to!
Definitely NOT THE OTHER WAY AROUND!
I thought to myself,
THIS DOES NOT MAKE SENSE!!!
How can the BuyButtonz service which is created and offered
by BOTH
Singapore's Largest Online Payment Gateway
and the online payment service provider
Chainfusion Ltd
BUT! of the TWO,
Chainfusion Ltd handles the money of the merchants ???
BUT Chainfusion Ltd forte is
Supply Chain Software and Online Payment landscape !!!
WTF?!!!!!!!
Maybe I am of Unsound Mind after all the torment...
But YOU Digest This:
Team A:
Singapore's Largest
Online Payment Gateway
Wholly owned By Several BANKS
Team B:
Chainfusion Ltd
Owned by a Passionate team of
Distribution, Software and Information Technology individuals.
$$$HELLO?$$$
So the RESULT of Chainfusion Ltd
Managing Merchant's Moneys...
According to Dao Yew Kong,
Operations Director of Chainfusion Ltd
$1.1 Million SGD is UNACCOUNTED FOR.
Chainfusion Ltd has also sent me an email of their acknowledgement that
Chainfusion Ltd owes me almost $280,000 SGD.
I am still waiting...
from a bubbly and trusting person
this real life experience has
tormented and transformed me
in too many ways...
Thank You For Removing BuyButtonz
On Your Website,
Thank You For Making BuyButtonz
Temporarily Out Of Service,
It Is TOO LATE For ME but At Least Not For Others...
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