In the late 2000s, as a broke college student struggling to make ends meet, I was contacted by a merchant services company after uploading my resume to a job listings website. This company promised substantial commissions and ongoing residual income for simply persuading businesses to accept credit card payments. It seemed straightforward enough—after all, what business doesn’t need to process credit card payments? Following a phone interview with a persuasive “sales director,” I found myself embarking on what I believed would be an easy job that would significantly boost my bank account with reliable monthly income and large sales commissions. However, the lessons I learned would profoundly change my life in ways I could never have imagined.
After completing my sales training, I hit the ground running, eager to make sales. This broke college student was determined to improve his financial situation! My first attempt at a cold call, with no prior appointment, ended with a burly man in his 50s yelling at me to leave, claiming he had been “totally robbed” by someone like me before. As I hastily exited, puzzled and intimidated by his reaction, I couldn’t help but wonder what he meant. Throughout the day, I encountered similar hostility from other business owners, all expressing disdain for the industry I had been so excited to join that morning. Confused and curious, I decided to shift my approach from selling to listening.
I quickly uncovered that the merchant services sector was riddled with unethical practices, including hidden fees, deceptive marketing, fine-print traps, and much more. It dawned on me that I had nearly been tricked by a dubious company into selling overpriced services under contracts with long-term commitments, all without being fully aware of what I was promoting. Outraged, I resigned from that company but learned that there were indeed ethical credit card processing companies that treated their clients fairly. Over the next four years, I worked for one such company, assisting hundreds of businesses in securing cost-effective processing solutions. Yet, I also met many more who had been misled and trapped in onerous service agreements. Determined to help people steer clear of these unscrupulous providers, I launched this website in my spare time, dedicating myself to researching and sharing my findings on every merchant account provider I could investigate.
Gradually, more and more business owners began to discover my articles. As word spread, search engines started to rank my content highly, amplifying its reach. My efforts were making a difference! Eventually, the website garnered enough traffic to enable me to leave my job and focus on it full-time, a journey that has now spanned over a decade. This path has not been without its challenges; unscrupulous company owners have tried to intimidate and sue me into silence on several occasions. Yet, I have stood firm against each threat. Here I am, continuing to publish reviews and articles, hoping to safeguard others from the pitfalls of the credit card processing industry.
If you believe in my mission and wish to contribute, please share my articles on your websites and social media. Thank you for visiting!
Brenda
I really don’t like square at all. I’m not sure why are they even still in business. I purchased a square, For my at home hair salon and after 4 swipes for my girls to pay square permanently deactivated my card reader due to “the frequent amount of activity on my account ” really… The was a quick end to my small card success. Plus they never gave me my 10$ for purchasing the damn thing. SQUARE YOUR BUSINESS IS HORRIBLE!!!!
Carolyn Dunegan
I recently borrowed $7800 from square capital and am a long-term square terminal merchant. I was stunned when my loan came through for almost $1000 more at $8800 because of a “flat fee origination fee” of $975 added to it. Shame on square this was not clearly stated in their email exchanges nor was the higher amount of $8800 Stated in a clear language in our emails until the loan was finished. This makes the $7800 at 10% plus a $985 origination fee truly a loan at about 23% such an incredible amount of agreed and near thousand dollar origination fee on only $7800 very sorry I got involved with this.
Mark watkins
Apparently you did not read everything. It’s written clearly and even in bold, telling you how much you would have to pay back. I would say read the fine print, but in this case it’s in bold large print, Square makes it very clear, you would have to be blind to miss it. It’s really a great deal considering back loan options and their interest rates.
Lacie Herndon
I agree with Mark Watkins. It is CLEARLY STATED IN BOLD as to what amount you’ll be getting and what the total payback amount will be. I’m not sure how you missed it. I am sorry you feel like they “tricked” you….I have never felt that I wasn’t fully informed during the past THREE square capitals we have agreed to.
Jon
What if I changed ownership of a business and inherited their square account, which they took $2500 out before I took over. Am I liable to pay off that cash advance? or would the previous owner be the one held accountable?