March 3, 2016
In today’s technology-driven economy, it is almost impossible to operate a successful business without the assistance of a merchant processing company to facilitate customer and/or client payments. This is true whether payments are initiated at brick-and-mortar stores, on e-commerce websites or via mobile-based applications. Given merchant processors’ integral role both in sustaining a business’ viability and helping it grow, the payment processing agreement is one of the most important, if sometimes overlooked, contracts that a business will enter into throughout its existence. Overlooking the importance of these contracts can often lead to a business encountering various problems with its merchant processing agreement, which are otherwise easily avoidable.
What is the nature of some of the problems caused by merchant processing agreements?