The virtual world is better known as the world wide web, which does just as it says. It provides companies in every country to sell their products worldwide with just the click of a button. This is a vital asset for many consumers who live in rural areas where the closest box store is hours away so online buying is the primary way to shop or it is also an ideal way for those who live in large cities and do not want to deal with the hassles of rush hour traffic just to pick a few things up at the store.
Being able to offer a new service to your customers is always great, but it should of course fit in your budget. Many new companies that are offering these processors will offer a low introductory rate or a free processor; however there are some elements that every business owner needs to watch out for so you don’t get scammed and get a loss of profits; creating an element of no job security for the employees and loss of income for stakeholders.
Small Business Success Without Scams
For small businesses that are trying to find the most affordable way to get their credit card processors, it is very important that they first look at various types of merchant account reviews that will provide them with information regarding any complaints about a certain type of processor. Some of these companies will offer the business rates that seem too good to be true when the fact is; it probably is too good. Some will state that the business owner will not be charged for the processor but the fine print will have hidden charges that will deduct a high percentage rate for each purchase that is ran through the machine. This will not help your business and profits, it will instead create loss of revenue for products or it will result in the company being required to raise its prices which could result in consumers going elsewhere for their business which once again, will result in loss of revenue for the company.
Reviews That Will Stop Scams
The only way to ensure that your company is getting the best possible deal on a credit card processor is to check into merchant service reviews and go through each and every complaint against various processing companies to ensure the one your company is getting does not pose any of these hidden fees to your company that will reek havoc on your companies profit, purchases and create an atmosphere where you will be losing customers. There are some credit card processor companies out there that will offer you a low purchase price and low rates for each purchase; it will just take time and dedication to shop around for the one that has the least complaints against it and provides your company with what you need as well as what is convenient for your cliental. When your company needs a credit card processor; be careful and don't get scammed.
About the author:
Josh writes for the Merchant Account Reviews blog, and is in love with the small business scene. He has served as an advisor for different small businesses and start-ups, and helps businesses of all kinds find the best credit card processor for their needs.
This post is really informative and provides information about ecommerce merchant account. I really like this post.
Let me share you my recent exprience which a fraud Credit Prossecing Company caused me for whoever reads my story please be careful what company you contract with before if gets too late and lose a lot of your hard earning me by getting rip off!
My name is Armin Babaei and I am owner
of Pars Market LLC. About a year ago I meet the owners of East
Payment Solutions, Jake Bensimon ,one of the owners,
walked into my store and introduced himself as the owner of a
merchant processing business. He seemed like a nice man and very
intent on switching my credit card processing so that I could save a
lot of money. During that time, I was using Heartland Merchant
Services. After he convinced me to switch companies, he returned
with Mike Forst who then introduced himself as Mr.
Bensimon's partner. Since they represented themselves as the
owners of the entire credit card processing company, they insisted
that there would not be a middle man and I could start saving money
immediately by using their service. They promised to pay my
termination fee of $295.00 so that I could use their service without
any worries. Yet after I had terminated my contract with Heartland
Merchant Services, East Payment Solutions refused to pay
my termination fee. I told Jake and Mike that I would
not sign a contract just in case if that later on I needed to cancel
the service, I did not want to find myself in a hassle. They assured
me many times that there would not be a contract or any hidden fees
and that I would be able to switch companies at my convenience. This
all occurred during the busiest season at my establishment. They
returned to my store with several papers and told me that they were
necessary for processing my information and depositing the money into
my account. After that they convinced me that this company would
process all of my Credit / Debit Card transactions. Come to find out
that the rate they had given me was amongst the highest rates in the
market that anyone could get! Also, they signed me up for a Check
processing service (the machine was defective) that I did not want or
need yet despite telling them several times that I did not want that
service, they did not cancel it. After sometime, I began to receive
my monthly statements and I discovered that Jake Bensimon and
Mike Forst were in fact contractors for a company called First
Data; and that Jacob and Mike were only middle men responsible
for supplying new clients to First Data. By end of the month,
I was being charged through First Data (not through East
Payment Solutions) as they processed my transactions. Then to my
surprise, I discovered that I was also being charged through the
Northern Leasing company. When I confronted Mr. Forst
about these multiple transaction he told me that he was not making
profit by processing my transactions. Mr. Forst and Mr.
Bensimon were being dishonest and manipulative and stole a lot of
money from my business under the premise of cutting some of the costs
of running my establishment. I hope that the Better Business
Bureau or RipOffReport websites will be able to assist me in resolving this issue with
East Payment Solutions.
Signed,
Armin Babaei
Owner and CEO
Pars Market
Columbia, Maryland