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All over the internet Pivotal Payments has advertised that they are "Backed by Goldman Sachs". What does that mean, exactly? Well, I spoke to Goldman Sach's attorney today. The attorney told me that Goldman Sachs is NOT an investor of Pivotal Payaments. IE: Pivotal Payments is NOT a subsidiary of Goldman Sachs. Nor, do they want to be associated with Pivotal Payments in such a manner. It seems that Goldman Sachs merely provided at one time some financial instruments to Pivotal Payments. The attorney was not sure if there are still any financial instruments provided to Pivotal Payments by Goldman Sachs.
BUT, IT SURE SEEMS THAT PIVOTAL PAYMENTS IS TRYING TO MISLEAD CUSTOMERS BY SAYING THAT THEY ARE BACKED BY GOLDMAN SACHS!!!!! The attorney told me that he was going to pass on the information to Goldman Sachs executives. WOW!!!
Do your homework before you sign anything with PIVOTAL PAYMENTS.
Someone should buy Philipfayer.com and Philipfayer.ca and let the world know what Pivotal is all about!!!
1 Updates & Rebuttals
Pivotal Payments
Montreal,Quebec,
Canada
Pivotal Payments is in fact a financial partner with Goldman Sachs
#2UPDATE Employee
Tue, December 07, 2010
We'd like to respond to this claim that Pivotal Payments is misleading its clients. In fact, Pivotal Payments is financially backed by Goldman Sachs and continues to have a relationship with the firm.
We are concerned with the defamatory nature of this post, but before exploring our legal options, we would prefer to resolve this issue amicably. To this end, we invite the poster to call our merchant support line at 866-883-1494.
Thank you,
Pivotal Payments