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Tuesday, 30 December 2014 20:45

Alert: "Merchant Services" Slamming 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.


Be aware of these key tactics


  • Merchants are told that their accounts have been locked. The scam caller needs their account information to unlock it.
  • Merchants have been tricked into signing binding contracts by being told that the documents were just applications to obtain price quotes.
  • Merchants were led to believe that the callers were associated with the merchant's current card processor, Visa, MasterCard, or their bank, and explained that they were calling to update account information. The merchants were tricked into signing new contracts.
  • Falsely claiming the merchant's current swipe terminals were outdated or incompatible with its services. Callers then convinced them to lease new card processing terminals for some amount of years.
  • Merchants were falsely told that they could cancel the new agreement at any time.


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. Call TRI, a trusted merchant processor for over 25 years. Create a secure merchant payment account today! 


For our current clients, if you suspect anything that doesn’t sound just right to you, call your TRI salesperson or TRI customer service at 888-494-9988 or email us at info@transactionresources.com or customerservice@transactionresources.com. There is no question too silly to ask us. Don’t be duped by the scammers. 

Published in Blog