Scam – Our Rate is Only 1.49%

MerchantProcessingNMScams Against MerchantsLeave a Comment

It is amazing to me how many new tricks there are to fool merchants into paying higher rates. Here is a new one. Give the retail swiped rate for personal credit cards below cost at 1.49% knowing full well that hardly any cards will come in at that rate. Then jack up the price for rewards cards, corporate cards, and even debit cards. Bob makes a bundle and the unsuspecting merchant pays the price.