May 28, 2004 -- (WEB HOST INDUSTRY REVIEW) -- Credit card processor Cardservice International will drop all of its online
adult industry clients, according to reports published Thursday.
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Parent company First Data confirmed that Cardservice will phase out its adult clientele within an unspecified time. However, Cardservice representatives said the phase-out will likely occur within the next six to eight weeks.
The Colorado-based First Data is an electronic commerce and payment services company. As the sole owner of Cardservice International, launched in 1988, the company processes more than $12 billion in annual credit card volume with more than 125 million transactions annually in 140 languages.
The phase-out of adult clientele comes as a surprise to some industry insiders, but a First Data spokesperson stands by the company's decision. "We don't believe there is enough benefit from the adult entertainment business for our shareholders and employees in the long run."
Cardservice International processes more than $12 billion in annual credit card volume with more than 125 million transactions annually in 140 languages. Neither Cardservice International nor First Data have yet to make any formal announcements to the adult industry.
