Credit Card Scams Consumers Try Against Merchants

Ginger HollowellScams Against MerchantsLeave a Comment

Here are a couple scenarios merchants should be aware of: Merchandise Return Scams Against Merchants There are criminals out there who have stolen goods from retails stores. They steal the clothes, leave the tags on and then go to the store to return the items. Make sure you ask for a copy of a receipt to avoid fraudulent returns. Otherwise, you may be returning cash … Read More

Scam Against Merchants from Other Credit Card Processors!

Ginger HollowellScams Against MerchantsLeave a Comment

Telemarketing is prevalent in this industry. The telemarketer has a script that reads something like this: ‘This is your credit card processor calling and we have to make an update to your credit card terminal.’ Or they say: ‘This is your credit card processor calling to inform you that your terminal is out of date and it needs to be replaced.’ Or they identify themselves … Read More

Payment Processing Sneaky Rate Increase Scam!

Ginger HollowellScams Against MerchantsLeave a Comment

It is amazing to us at Electronic Money Company, how many merchant service providers think up new fees and sneak them in under the radar in small print on a merchant statement! Many merchants don’t even look at their merchant statements because they don’t take the time to read the details every month, or because they have bookkeepers whose job is not management of money, … Read More

‘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

Ginger HollowellScams Against MerchantsLeave a Comment

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 MerchantsLeave 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

True Story About a Low Rate Hussle!

elecmoneyScams Against MerchantsLeave a Comment

Scam-Salesperson

A Long Time Client is Being Hussled! One of my long time clients called me and asked a strange question.  She was bombarded by companies calling her to switch her processing.  Tired of the hassle she finally said yes, she would listen to the salesperson’s program!  She made an appointment with her. Then she called me and asked if I would be at her side … Read More

Be Aware of This Credit Card Fraud Scam!

MerchantProcessingNMScams Against MerchantsLeave a Comment

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