Credit Card Processing Industry: The Misleading Advertisements

Credit cards are widely used by customers when buying item from online business man. If you’re doing business online, you must have a merchant account to accommodate your customers. Before you sign up for merchant account you must ensure that the processing company has no other any hidden payments that can be unfair in your part as a businessman.

You can simply know them from reading their advertisements. These are the common ads that are misleading which you can’t depend and trust as your credit card processors.

  • This is an example of a misleading advertisement in their websites; “there is a $500 reward if you can find a better deal with our company”. You must do some research about what they mean of the reward offered to you if you sign up for a merchant account with them. They are truly misleading you to another option such as giving you the reward through giving a refund only if you choose them or signing up a merchant account with them.
  • Another misleading advertisement is, “guaranteed with the lowest prices”. The next thing you must do is research for the information of low prices. You may end up acquiring the exact information how true they would give you a low price or again give a refund if you sign up for a merchant account to them. 
  • Other misleading advertisements can be no setup fees and instant activations. It must have another meaning such as gateway fee, or virtual fee, or terminal fee, or a software fee. In the case of instant limitations, it might have another meaning that points to types of account that can have several limitations or limited services only to a specific merchant account.
  • Misleading advertisements also includes free merchant accounts, instant merchant accounts, and no merchant account needed. When they are offering instant merchant accounts ask them if you have to pay or do you get a refund. There are companies with hidden fees and only then you know after you had signed the contract. As of the advertisement of cheap merchant account, it simply means that there is a hidden cost that is not given to you before signing up. Processing companies do these transactions to increase their sales, so there is no such thing as free in the world of credit card processing industry. Do a thorough research and compare fees from other companies before signing a contract.

 

These information are shared for you to be aware before you sign-up for a merchant account. Moreover, credit card can really be a good feature and convenient for every payment transactions and a better way in serving your clients.