Law enforcement authorities go on warning that continuity billing scams are increasing and it’s critical to take the necessary measures to avoid being victimized. Where can continuity/subscription merchants find the most reliable merchant services for their business? Just read below to know more on the topic.
Continuity Billing Scams: How to Avoid Them
With eCommerce being on the rise all over the world, the risks of becoming a victim through the purchases over the Internet are growing. This is especially true of purchases made via credit cards.
The term “continuity billing” refers to those cases when consumers are induced to submit their credit card numbers, which are then used illegally to charge these consumers a monthly fee. As a result, consumers’ credit card accounts are charged recurring billing of come $40-$60 a month without any notice or authorization.
Victims can’t notice any hidden fees unless they review the terms and conditions concerning the activities they’re involved in. In fact, the scam is called “continuity billing scam” because if you’re deceived by this type of scammers, you’ll experience a continuity of regret. So, you fall for a scheme that charges you each month for worthless services.
Overall, continuity billing scammers don’t “put lots of effort” into the implementation of their schemes since the majority of consumers don’t read the fine print. Here’re some warning signs to take into:
- Don’t forget to check out the company, domain, and product you’re offered. Google can help you with this: just use those terms plus “fraud,” scam,” and “billing.”
- When clicking on a “free” or “affordable offer,” use your prepaid debit card that has no ties with your bank account instead of the required credit card.
- Dispute charges that come with no authorization to the issuer of your credit card.
- It’s mandatory to go through all fine print, as well as terms and conditions before buying anything.
- Google to find out if anybody has already mentioned about the offer as a scam.
- Don’t forget about paid advertisements online. Paid banner ads aren’t always affiliated to the website you’re interested in.
- Review your credit card statements regularly for unauthorized charges.
- To stop fraud, contact the suspected company just right off the bat. Request a stop payment and keep records of all the info concerning your interaction with the company.
- Victims can also refuse delivery of goods. Don’t fail to contact the corresponding financial institution or credit card provider to request a charge back due to fraud.
EMB Offers the Best for Continuity/Subscription Merchants
Continuity billing scams have turned into a widespread phenomenon. So, no wonder that credit card issuers and processing companies are taking measures to prevent them in the best possible way.
Here, it should also be noted that chargebacks are on the rise as well. This is so much caused by subscription-based businesses with recurring billing. In fact, friendly fraud is the main reason causing the majority of recurring payment chargebacks. So, it’s no stretch to imagine the considerable potential loss of revenue caused by chargebacks, which eventually affect companies’ bottom line.
With all this in mind, continuity/subscription merchants should work only with a reputable credit card processing company like eMerchantBroker.com. Given subscription-based businesses may have difficulty getting approved for a merchant account because of being tabbed as high risk, it’s vital to turn to a respectable high risk processor.
With EMB, you have no need to worry since eMerchantBroker.com is regarded as the nation’s #1 high risk processor and considered as A+ company by the BBB. Moreover, Card Payment Options has given an A rating to EMB. EMB will let you know about your approval in as little as 2 business days.
eMerchantBroker.com offers merchants subscription accounts that boast the highest level of security and affordability in the industry. Specifically, EMB provides merchants with an exceptional chargeback prevention suite to help you grow easily. So, you can save money and focus only on your growth.
Continuity billing scams go on serving as a major source for credit card pain. So, take the time to find a true professional in the industry that can get you the most secure and reliable payment processing solutions to help you sidestep fraudulent schemes without challenges.