Merchant services sales reps use a variety of tactics to try to win your business, but some of those tactics are more deceptive than others. One example is a pre-recorded sales call that claims your pricing has increased and states that if you don’t contact the company, it indicates you agree to the price increase.
According to the Department of Justice, two executives of a credit card processing company have been charged with fraud. The executives, who worked for Commerce Payment Systems, are accused of perpetuating a scam against thousands of small businesses and obtaining more than $30 million through overcharging and deceptive tactics.
While it may not be the most common scam out there, at CardFellow we regularly field questions from people asking about opening a merchant account for someone else in your own name.
The switch to EMV chip cards has been a mess for many businesses. The need to purchase new equipment, long delays in certification, customer confusion over using the chip cards, and retraining staff on accepting cards are a few of the problems.
There is nothing friendly about fraud – it is criminal. “Friendly fraud” refers to apparently legitimate customers using their own names, addresses and credit card numbers to make an online purchase but later disputing the charge with the credit card company. A more accurate term for this behavior is “cyber-shoplifting.”
Recently, we received a comment here on our blog that perfectly illustrated some of the deception, half-truths, and spin that many credit card processing sales reps use to pressure and mislead businesses. Disreputable processors range from deceptive to outright scam, and it’s important to know what you’re getting into when you’re choosing a
Northern Leasing Systems is garbage. It defies logic that a company with a reputation as horrendous as Northern Leasing is still in business. It shouldn’t be. The company’s culture is defined by a well-documented history of rampant scams, fraud, lawsuits, and even being sued in federal court for racketeering.
Here’s a piece of advice if you’re thinking of
You’re paying a lot more than you should for credit card processing – and you probably know it. But the deceptive tactics used by processors leave you frustrated any time you try to do anything about it.
Read the full article
We help you find the perfect credit card processor for your business
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.