Friday, February 21st, 2020
Have you heard about the recent deal between the FTC (Federal Trade Commission) and Transact Pro? The deal implies settling charges associated with a misleading scheme that offered consumers free trials of personal-care products and dietary supplements. To know more about the case and discover a secure and low-cost payment processor for your business, this is the right place for you to be.
Latvian Payment Processor & FTC Deal
The above-mentioned Latvian credit-card processing company and its former CEO have reached an agreement over the FTC’s complaint. The latter has to do with illegal use of “free trials” to persuade customers to pay for the offered products.
Back in May 2019, the FTC filed a complaint against Transact Pro and its former CEO Mark Moskvins. So, what did happen? Well, the Transact Pro defendants unlawfully used merchant accounts for the Apex scheme.
They operated under the name of shell companies. By enabling the US-based trucking company Apex Capital defendants’ efforts, they were managed to avoid programmes monitoring credit-card chargebacks. Customers were offered “free trials” for personal-care products and dietary supplements over the internet, but they ended up paying the full price for those products.
Are you an eCommerce merchant interested in trustworthy and affordable credit-card processing services in the UK? Well, all you need is to find a respectable payment processor comparison company like BestPaymentProviders.co.uk to enjoy the best deal for your company without difficulty.
Best Payment Providers offer a trustworthy snapshot of processors at the time of writing that you can really rely on. This way, you can be sure to get easily approved for the safest and cheapest merchant services in the country.
What Else You Should Know
What Transact Pro did was to assist scammers in draining customers’ accounts without having their permission. In fact, the FTC isn’t going to stop here: it’s focused on going after credit-card processing companies that are involved in unlawful activities, both in and outside the country.
Now, besides paying $3.5 million, the defendants aren’t allowed to process transactions for a number of merchant categories or to conduct alleged in the complaint.
A Latvian credit-card processing company and its former CEO have reached an agreement over settling the FTC’s complaint against them. The complaint is about the illegal conduct of dishonest “free-trial” offers by the US-based defendants.