A call comes in that Visa and Master Card have gotten together to save small businesses from over charging credit card processors; they're operating under the name "Visa Mastercard Merchant Services." They are hiring just their cardholders in a 75 mile radius of their homes to simply give them leads for local businesses which the merchant services will convert to direct customers and pay the "affiliate" an extremely generous commission and a 50-50 split of the 2% they'll charge the business. It starts off as a small weekly $5.95 fee to access an 800 number and a website to track your sales. There's a guaranty of 2 sales checks within 2 weeks of your providing 5 business names. You get paid from $295-$495 per lead depending on what kind of FTC license you buy in order to be an affiliate. They offer "promotional dollars" to offset the $495 license.
They insist on charging your Visa or Master Card to start the licensing process, claiming that your guaranty against fraud is that the credit card company stands behind fraudulent transactions. I called the legal department of Master Card North America and and the merchant services at Visa and was told that only purchases of goods carry that guaranty, not services. When I put the recruiting manager on with the Master Card attorney he disappeared. She called again and the number was not being answered. All through this I heard lots of salesmen on phones in the background. The number is480 389 3915 and the salesman claimed to be Ken Sargeant.
I don't care what they promise—it's a fraud. *There is no such entity as Visa Mastercard Merchant Services.
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