FTC Case Serves as a Reminder About Ethical Sales Practices
The credit card processing industry is filled with lots of great sales agents. However, because of the actions of a certain breed of salespeople, it has also earned a somewhat negative reputation. We have all heard stories of merchants who have been wronged by a sales agent in our industry. In fact, I bet we all personally know a merchant who has been the victim of deceptive sales tactics.
Unfortunately, some agents frequently indulge in such practices, such as failing to fully disclose pricing, loading agreements with hidden fees, making false claims about equipment and more. Stories of wronged merchants always make their way to the spotlight
This is especially true given the Federal Trade Commission's recent action against an ISO for engaging in these deceptive practices. You can read more here:
http://www.ftc.gov/opa/2013/07/merchantservices.shtm
As always, let me know if you have a particular topic of interest relating to the credit card processing industry. Perhaps you are getting the run around and want a different perspective or just a closer look from someone who actually does not need to lie to business owners to get their business. Let me know
Michael
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..............it was all there on Google and took one minute to find.................
[QUOTE=ODpayments;466246] In fact, I bet we all personally know a merchant who has been the victim of deceptive sales tactics.
Unfortunately, some agents frequently indulge in such practices, such as failing to fully disclose pricing, loading agreements with hidden fees, making false claims about equipment and more. Stories of wronged merchants always make their way to the spotlight
Michael
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We got conned 3 years ago by a fast talking salesman who offered us half the cost we were paying being connectyed to our bank and we signed up.
They installed the new equipment the following week worth $ 100.00 and lifted $ 3000.00 out of our bank account. We cancelled everything within 3 days and returned the equipment, which came back as underivlable, no such address. Took 4 weeks to get back integrated into our bank system, probably my punishmeny and Northern Leasing today still wants $ 5000.00 for the equipment.
If I would have suspected some fraud ahead I would have known..............it was all there on Google and took one minute to find
