Q) What are the worst false promises or blatant rip-offs you’ve seen from credit card processors?
A) Personally, I have seen many merchants getting ripped off – and the best thing they can do is read the contract they are signing. if they don’t understand something, ask until all your questions are answered. If you don’t understand the contract – have someone you trust review it.
Typically they sign up with the understanding of getting one thing and get something else entirely. The breakdown here is the merchant not knowing the terms of their contract and unfortunately being legally bound to the terms regardless of what song and dance the sales rep gave them.
Biggies are: any undisclosed fees in the sales pitch, “Leasing Equipment”, Auto-Renewing contracts with only a small window to cancel.
