You might not know this, but merchant account contracts often come in two parts. As part of our regular investigation of merchant complaints, we’ve seen a lot of business owners claiming that credit card processing sales agents “never provided them with the full contract” at the point of sale. “I remember signing a three-page document,” […]
Read MoreWhat is a chargeback? A chargeback is a customer-initiated reversal of a credit card payment—or, in other words, a forced refund. When any cardholder sees a charge on his or her statement that does not appear to be a legitimate transaction, that cardholder has the right to request and receive a reversal of the payment through […]
Read MoreIs it worth it to accept non-Visa/MasterCard credit cards? Visa and MasterCard are the two largest companies in the credit card processing industry, and it’s not even close. In 2013, Visa and MasterCard accounted for over 87% of all card transactions worldwide. The third-most common transaction type by card brand was China UnionPay with 7.7% […]
Read MoreWhat is a merchant account slamming scam? The term “slamming” refers to a deceptive sales practice intended to switch a customer’s service provider without his or her knowledge or consent. This ripoff tactic first popped up in the telecommunications industry in the 1980s, when unethical telecom providers would notify AT&T of a customer’s intention to […]
Read MoreWhy should I offer a gift card or loyalty program to my customers? Customer reward programs can benefit your business by expanding your marketing reach and distinguishing your business from its competitors. Customers who sign up for a loyalty program are expecting the arrangement to pay off; therefore, they are more likely to monitor your […]
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