On February the Federal Trade Commission took action against the Plano Based Merchant Service Provider.US District Court Judge Paul Brown took control of of the assets of Certified Merchant Services. I have been in the credit card processing Industry for 4 years. Too often I find that Merchants are looking for something for nothing. They lack the basic understandings of contract law, and take for Gospel what Sales People say, and then are shocked when it is not as represented. CMS used deceptive trade practices, I have seen their reps forge Merchants names to Banking documents. I have the following advice to Merchants, 1. Expect to pay a minimum processing fee monthly, 2. Expect to pay for your supplies, 3. You will not qualify for a lower rate than Wal-Mart pays (you have no processing History), 4. New Businesses have a high failure rate you will not get the lowest rate for your processing, 5. If you purchase or lease antiquated Hardware you will pay for it in higher penalties for non-qualified fees, 6. No responsible Company gives equipment away for free. If a deal looks to good to be true it is probably a scam or a come on to get you to sign. Processing is about Service, Financial Responsibility and Trust. Use common sense!!!
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