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HIGH RISK MERCHANT ACCOUNT SCAMS

Scams are a common problem when dealing with merchant accounts. The scams can be Partial, Full-Scale or backdoor scams.

The term partial scam can mean improper or changed information regarding fees, prices, features, charges and the overall description. The most commonly encountered partial fraud is Hidden charges scam. Here some of the fee is concealed. The customer is not provided adequate information which will result in him losing money. Apart from fees, extra charges and rates are also concealed. Extra charges are applied by the bank which carries out the process. During all the processing these charges will remain unknown. It will become known only when the bill prepared by the bank which conduct process is reached the merchant of eCommerce.

Some organisations dealing with processing of credit cards do not give the list with full price. The information that should be there in a list containing full information are The charges of the bank, fees and rates besides the link to them. These are not usually given on the website of a provider of merchant account.

However lack of link does not imply a scam always. Many providers work with different banks so it will be difficult for them to include all the details in the list. This is very common when the provider deals with offshore accounts. In such cases it will not be difficult for a person to get details of the bank. In some cases this money can be very much some times even results in the end of e-commerce business.

Although most scams encountered nowadays are partial scams it does not mean that a full scale fraud is not at all possible. It will always remain a possibility. But it is rarely seen. Some ecommerce merchants have become the victims of such a fraud. They get cheated by the prices which are very cheap based on the information given to them via the site. The membership form by them will be shorter but after filling the forms and the bill given to them would be shockingly high. This will be very high than the normal rate.

The phone numbers given on such sites will be non-existing in most cases or even if the number turns out to be right they will not be answered. So there will be no ways to contact the concerned people.

But it is the backdoor scam which is difficult to carry out. Still the possibility of these scams cannot be avoided. It can cause the maximum damage compared to the other two types of scams. In a backdoor scam the code of the program can be changed which provides an opportunity for the creation of a hole through which a third party can connect later on when gateway is being used. A lot of skills are required to carry out such scams which is a reason why these types of scams are difficult to carry out. Leaking of information should be avoided as it will be useful in avoiding such incidents.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.