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 … 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 … 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 … Read More

Scam to Save you $500! Say What?

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A current merchant called us and asked us to review a proposal from a competitor. The competitor had a copy of the merchant statement and wrote on it, “Savings of $500!” and circled it in red. He had no data to back up the savings. The merchant wasn’t even paying anywhere near $500 in fees over the wholesale interchange. Bob … Read More

Email Fraud 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 … Read More

Scam for Restaurants!

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One of our large volume fine dining restaurant client’s was approached by Bob who said he would save them over $300/mth on their fees. Our client asked us to evaluate. We said we needed to see the rates Bob was presenting, not just a number of $300 with nothing to back it up. It took the client 10 days to … Read More

Scam – Will My Rate Ever Change?

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When asked about rate increases, Bob from Brand X always LIED, (that’s right I said LIED) and said that rates would never change with him. The fact is that 99% of processors raise rates whenever they want to. Typically they raise rates when they are getting ready to sell out to a bigger processor, in order to inflate their bottom … Read More

Merchant Scam Alert: Avoid Force or Offline Transactions, the Social Engineering Scam

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A scammer with a stolen or fake card attempts a transaction. The merchant receives a decline, but the scammer pretends to contact their issuing bank and tells the merchant they received an authentication code. The scammer instructs the merchant, per their bank, to use the code and force or create an “offline” transaction. The merchant enters the code, completing the … Read More

Scam – Flat Rate

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Bob’s new trick is an old one. His new rate is 1.69% and he says he won’t have any higher rates for keyed-in cards, rewards cards, or corporate cards (?). I think that Bob is either an outright liar or he is new to credit card processing and doesn’t have a clue what he’s talking about. Too bad the company … Read More