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CRITICISM OF TOBACCO MERCHANT ACCOUNT

Every object has its advantages and disadvantages. A famous saying goes, “the moon also has its darker side”. In relation to the proverb, there is also a high risk in merchant account. The invention and the innovations in the electronic banking sector, combined together, make an advantage to the banking systems. But the fraudulent cases that have been reported show its disadvantages.

There is also a high risk involved in the internet banking systems. There are high time scammers who make people fall into their traps. These scams make foul play with the existing accounts of the customers. A customer has to be very careful while choosing the merchant from the list of merchants. There are some unregistered companies who cheat the common masses in a big way. They use various techniques to make their account very attractive in order to influence the choice of the customers. These scammers also have websites of their own. At first, they assure the customers that their products will be delivered as wanted. But a full advance payment has to be done before the delivery. This results in no delivery of the product and also the money is forfeited by the scammers. After the customer keys in the PIN code of their credit card or after the credit card information is given, these scammers access into the customer’s accounts and withdraw all their balance money from the account.

People are directed towards various offers that these scammers provide. Most of the people are not aware of the theft and scams and they become their victims. In the year 1999, a Thailand resident was duped of forty thousand dollars by these scammers. The scammers were never traced. After the fake transaction, these merchants change their account and addresses as well as their phone numbers. They are very hard to find because they keep migrating from one place to another. These scammers use the names of renowned and recognised merchandise and companies to do foul play. The customers find it impossible to identify the faulty merchant as they blindly choose the merchant’s product because of their name. Thus, a merchant account is misused.

The merchants, in the modern days, have failed to live up to their expectations of doing business because of the internet crooks. The scammers are the hindrances to the smooth running of the merchandise business. PayPal is an internet payment system which is very popular in the modern era. The scammers cheat the people with the name of this site. People think that it’s the same payment system but is irony. At first when a customer comes into sight, these scammers communicate with them in a promising way. They also have the knowledge about all the sites that provide internet banking system, credit/debit card processing. This information and ideas are used by the scammers to cheat the people.

Some people fall into these traps very easily as they have not used the internet marketing system before. But the ones who use the internet usually are also cheated. Though the Government has tried to stop these activities, they fail because the scammers are not traceable. These are the criticisms of merchant account. 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.