Worldpay Accused Of Seizing Funds In $2.7M Contract Suit

By Dean Seal (November 9, 2020, 10:14 PM EST) -- A California-based credit card processor claims Worldpay LLC seized and is "unreasonably withholding" $2.7 million after hastily terminating a merchant agreement between the companies without proper explanation.

Integrity Business Partners LLC brought its accusations in a lawsuit that Worldpay removed to Ohio federal court on Friday. The independent sales organization alleges it had worked with Worldpay from September 2019 until August, when Worldpay issued a termination letter accusing IBP of breaching their contract.

The termination letter did not specify how IBP had violated the contract, stating only that the company's underwriting activities were "outside of the approved underwriting guidelines … and...

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