Posted: Monday, May 16, 2016. 11:25 am CST.
Posted: Monday, May 16, 2016. 11:28 a.m. CST
By Aaron Humes: In international court news, the Belize Supreme Court ruled last year that Belize Bank Limited must pay Evergreen E-Pay Solutions over $3.3 million for abruptly ending the agreement where Evergreen provided online payment services and e-commerce merchant referral program. As of April, the award had not been paid.
Now, according to the Daily Business Review, Evergreen, which is a Palm Coast e-commerce payment processing company, filed a federal suit on Friday alleging that U.S. credit card company Visa allowed three Belize banks to process international transactions without proper licensing, leading them to suddenly terminate Evergreen’s agreement.
Counts include fraud, breach of contract, negligence, business defamation and conversion.
The Belize Bank along with its sister banks British Caribbean Bank International Ltd and Belize Bank International Ltd are being sued. All three are held under Lord Michael Ashcroft’s Caribbean Investment Holdings.
The three banks provided Visa credit and debit card processing services in Belize, processing up to 800,000 online purchases made by cardholders who were Internet customers of Evergreen’s international merchants.
From August 2012 to February 2014, the banks and Visa processed $10 million to $15 million of Visa credit and debit card transactions for Evergreen’s client merchants, including Film World Media, Razzle Enterprises Ltd., and UAB Click2Sell Ltd., according to the complaint.
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