06 Jan 4 Tips to Protect Your Business from Credit Card Processing Scams
Protect Your Business from Credit Card Processing Scams
All too often during business hours the phone rings and time is lost on a salesperson that has nothing you need at that busy moment. It’s possibly a wasted minute or two. Their goals are relatively easy to assess as soon as you answer the phone. You politely “let them go”.
Professional scams on the other hand, or “slamming”, are far more insidious and can result in large losses for your business on several fronts. The slammers know what they are doing; they understand the boundaries of human trust and rely on your sincerity and good will.
Scam calls, often from “merchant services”, can result in a merchant providing secure information to someone who is impersonating the service or support department of a reputable merchant services provider. The scammer convinces the merchant to execute fraudulent agreements for billable merchant related services that were neither needed nor wanted.
4 Tips to Protect Your Business
To keep your business safe, here are 4 tips to protect your business from processing scammers:
1. Always ask the caller who they work for. A caller saying they “represent” Visa, MasterCard, or “your bank” is not enough. Ask what company they work for. Scammers are evasive. A reputable company like BASYS Processing will be very forthcoming with that information.
2. Never give your account information to someone because “your account has been locked”, or because you need to “update your account information”. That is likely a Scammer. If you believe there is an issue, call your processor directly. BASYS Processing places our contact information on the side of every merchant terminal.
3. Never sign a document to get a price quote on credit card processing. To get a quote from BASYS Processing, you will have to provide your contact information, and statements from your current credit card processor. Only Scammers will ask your to sign something for just a quote.
4. Never sign a document without reading it thoroughly. Scammers will encourage you to sign documents for quotes, or updating account information. But in reality those documents they are asking you to sign are likely leases for equipment you don’t need, and agreements for high-priced, low-quality services that you don’t want.
Don’t be duped by Scammers. Protect your business. To prevent losing anything more than a few seconds on one of these slamming schemes, relax and know that there are concrete ways to stay safe and secure.
If you suspect anything that doesn’t sound right to you, call BASYS at (800) 386-0711 or email us at support@BasysPro.com. There is no question that is too silly to ask us when it comes to your account security, your information, and helping to protect your business.
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale; customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: