‘No Hidden Fees’ Trap

Ginger HollowellScams Against MerchantsLeave a Comment

No Hidden Fees Trap
‘No Hidden Fees’ Merchant Scam These days, everything we hear from politicians and advertisers has a SPIN. ‘No Hidden Fees’ sounds great, doesn’t it, especially when it is in bold type in a big font on a credit card processor’s marketing. Here is how this SPIN and the ‘No Hidden Fees’ Merchant Scam goes down. Many processors pronounce to their prospects and put in writing ... Read More

Nightmare Merchant Problem!

Ginger HollowellCredit Card Processing/ Merchant Services, Scams Against MerchantsLeave a Comment

Nightmare Merchant Problem

Let me tell a true nightmare story which happened recently to one of our merchants.  I will tell you how we fought like the 3rd monkey trying to get on Noah’s Arc in order to find the solution and fix the nightmare problem.  Then you will have a better understanding of how Electronic Money Company is uniquely different from all the other credit card processing … Read More

Credit Card Refund Scam Against Merchants

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Credit Card Refund Scam Against Merchants

Credit Card Refund Scam Against Merchants! One of my clients called recently to ask some questions about refunding a customer.  This particular customer paid a deposit on a custom engineering project and then decided to cancel the order.  The merchant told this customer he would refund the card.  However, the card holder argued that they didn’t have the card anymore and could the merchant write … Read More

FRAUDULENT Credit Card Transaction SCAM

Ginger HollowellScams Against Merchants, Scams of Credit Card Processing SalesmanLeave a Comment

FRAUDULANT Credit Card Transaction SCAM

Watch Out for This FRAUDULENT Credit Card Transaction SCAM! I just heard from one of my customers who got an email and text from someone who wanted to use their credit card for a HUGE SALE!  I am changing the name of the merchant and proprietor, but wanted to let you all know about this SCAM!  We have heard this same story several times over … Read More

Be Aware of This Credit Card Fraud Scam!

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Here is the scenario for this scam. It plays upon the merchant’s emotions: getting excited about a large sale and then the fear of losing that sale. The merchant starts salivating over the profits and over rides his or her caution. The fraudster starts the process of talking about a very large purchase. He asks the merchant if he can overpay with his credit card … Read More

New Scam to Steal Credit Card Info!

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Now that we have EMV chip cards to prevent fraud, the thieves have to come up with new ways to get our data. You may have heard about a skimmer, which pulled information off the mag stripe. Now the fraudsters have what is called a shimmer. And it is so thin that it becomes almost undetectable. A shimmer can be installed inside the chip reader … Read More

Biggest Merchant Services Secret Scam – The “After You Sign Up” Scam

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Electronic Money Company has refused this increase for our entire portfolio of clients!!! The way 99% of processors out there play the game is to sign people up on a low rate and then once or twice a year increase rates and fees slightly and hope their clients don’t notice and don’t switch over to someone else. Eventually, the merchant figures out their rates are … Read More

A chargeback scam every business owner should know about!

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The shift to EMV chip cards, designed to stop credit card fraud, happened in late 2015. To this day, consumers are still taking advantage of merchants who have not adopted this new technology, and winning chargebacks from unsuspecting merchants. “EMV chip technology has been rolling out to consumers and merchants in the United States. Visa chip cards protect in-store payments by generating a unique, one-time … Read More

Merchant Scam – Fraudulent Email, Posing as PCI Message

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Data security is a serious topic. PCI is a state-of-the-art security system created to help you keep data safe from fraud. The thieves, however, also have high-tech methods to confiscate confidential information. Here is a fraud email designed to capture your personal information. This is not a real email that would be sent by your processor or a PCI compliance provider. It is actually what … Read More