Category: Credit Card Processing : Merchant Accounts
Other Related Categories in Credit Card Processing:
»3rd Party Processors (3)
Bait and switch operation - 2004-07-08
 |
| Reviewed by: forcemajure@yahoo.com@ |
As a newly signed on merchant with Payquake "pay to play" services, I had looked forward to the no hidden/clearly stated fees as advertised by this operation. Unfortunately after receiving my first statement, I had to call and question some of the significant "surcharges" I was assessed.
I was informed that the very operation of conducting a virtual terminal credit card transaction allows them to charge a greater than stated % fee (5.5% by my calculations), which is disguised by adding it separatly as the 'non-qualifying discount' surcharge.
When I looked back on the agreement and the letter which accompanied it, I found how they sucker you in. The sign-up letter states:
"....you will find the addendum of extra fees a bit extensive, but do not let it overwhelm you... many of these fees are optional, conditional on returns, and occur in other situations not typically encountered during standard processing..."
Is it me or is that a bit misleading?
It seems after my deeper digging every virtual terminal transaction that I was conducting was "non-qualifying"! ! !
False advertising all the way...
Forcemajure
|
 |
|
|
