Conducting business in professional, transparent and honest manner is not only great business philosophy, which truly creates customer partnerships, it also keeps “you” out of prison. Increased scrutiny of merchant services providers using misleading verbal statements, misleading proposals and worst of all, misleading analysis’ to dupe unsuspecting customers into to becoming buyers, is now forcing law enforcement and prosecutors to ramp up enforcement. As an industry professional I welcome this increased enforcement. Days of using boastful and misleading tactics are coming to an end. Greater scrutiny and prosecution will ensure this. Conducting yourself as a true professional is paramount.
We all too often see unprofessional, disgusting activity taking place where unsuspecting merchants are duped into doing business by “pie in the sky” promises of “lowest rates” and “smoke and mirrors” proposals. These tactics are often unveiled when the credit card processing statements show up full of little surprises. Sometimes it takes 2-3 or 4 months before all the surprises are aired, but they do eventually make their presence. Add this together with the words spoken by the associate plus other unannounced surprises you have the perfect storm and grounds for prosecution due to fraud. As industry professionals we are held to our words and presentations. We must be totally transparent and honest to a fault or face the consequences. Ignorance of the facts or lack of industry knowledge is not an excuse. As a professional you must take your responsibility seriously. Each and every one of us in an industry ambassador. We must learn the business through being highly trained and educated in our industry. We must also be well aware of associated laws before we venture out and face impending disaster. Read article below and see why this is ultimately so much more important today.