- Credit card processing is required for any business that accepts credit or debit card payments.
- Unfortunately, scams are common within the credit card processing industry, and many small business owners fall victim.
- When choosing a credit card processing service provider, ensure it’s legitimate by checking customer reviews and Better Business Bureau information.
- This article is for business owners who want to know common scams to look out for when considering a credit card processor.
If you want to stay ahead of the competition in any industry, you’ll need to accept credit card payments. As many business owners know, card payments are so popular that cash-only businesses may be a deterrent to many consumers. This means you’ll need to find a credit card processor, and that process can be a little tricky.
Credit card processors are well aware of the freedom they have in charging businesses for their services; unfortunately, some take advantage of business owners. Here’s a look at the most common credit card processing scams and what you can do to avoid them.
How to choose a credit card processor
Each credit card processor you come across will offer a wide variety of pricing plans and features that you may not need. To make the process a little easier, here are three keys to look for as you weigh your options.
- Pricing: A good rule of thumb is to stay away from processors with rates that the processor can change at their discretion.
- Purchase: Stay away from processors that try…
