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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.
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.
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.
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.
Learn the ins and outs of merchant account fraud, how to protect your business, and the best ways to respond to merchant services scams.
Merchant processor scams are fraudulent activities where unscrupulous individuals or organizations deceive merchants by offering deceptive or unreliable payment processing services. These scams can involve hidden fees, unauthorized transactions, lackluster customer service, or non-existent services.
Merchant fraud affects businesses of all sizes and types. Consequences can be severe, including financial losses, harm to reputation, and legal penalties. We’ll cover what businesses need to know about merchant fraud, how it works, the damage it can cause, and how businesses can protect themselves.