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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.
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.
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.
Learn the ins and outs of merchant account fraud, how to protect your business, and the best ways to respond to merchant services scams.
scam alert: Beware of calls regarding your "credit card merchant fees" and "federal regulation changes". They say they are calling from “merchant services” or “the credit card processing company" and that they could save you a few percentage points on each credit card swipe your business takes.
Below is a list of common scams merchants face regarding payment processors and to educate yourself on how to prevent them from avoiding getting conned. Hidden fees. It is vital and in their best interest for merchants to carefully review the overall costs that they pay to any payment processor.
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.