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As a business owner, are you concerned about running into merchant services scammers? Learn how to identify and avoid merchant services scams. In this post, we explore some of the most common scams and offer tips for fraud prevention.
I had an interesting call this mornings from a person that claimed to be with Merchant Support Network Incorporated. The woman asked to verify some "basic" information that would allow them to process a rebate owed to us from overcharges to our account that related to a lawsuit.
Merchant services scams can derail the success of your small business. By understanding how these schemes work, you'll have the awareness you need to avoid fraudulent providers.
We are currently able to locate over 40 negative Merchant Services, Inc. reviews, many of which accuse the company of being a ripoff or a scam. Common themes among complainants include nondisclosure of contract terms, improper billing, unexpected fees, persistent sales calls, poor customer service, and insufficient agent support.
You might find that merchant services keeps calling, trying different tactics to get you to call them back, send statements, or switch processors. Don’t sign new contracts or send in paperwork without reading it carefully and confirming what it is with your current processor.
Funds for payments come from FTC’s case against payment processor First Data Merchant Services. The Federal Trade Commission is sending full refunds totaling more than $11 million to consumers who lost money to a bogus credit card interest rate reduction scheme operated by E.M. Systems & Services.
Learn the ins and outs of merchant account fraud, how to protect your business, and the best ways to respond to merchant services scams.