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PBH CANADA
ATM / POS / eCom / merchant services / merchant advance funding
ATM / POS / eCom / merchant services / merchant advance funding
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HOW TO GET OUT OF YOUR EXISTING CONTRACT
The Government of Canada has recently adopted Code of Conduct (also known in the industry as CG10) to somewhat regulate the merchant services industry. CG10 covers many aspects of the payment processing industry but, for the merchant, it is good for two things:

1. Mandatory disclosure of all the fees.

2. Cancel contract without penalty.

Below are some excerpts from CG10:

Code of Conduct for the Credit and Debit Card Industry in Canada – Increased Disclosure in Sales and Business Practices and Cancellation of Contracts without Penalty.

Relevant Elements of the Code:
Element 3 – Payment card network rules will ensure that following notification of a fee increase or the introduction of a new fee, merchants will be allowed to cancel their contracts without penalty.

By signing a contract with an acquirer, a merchant will have the right to cost certainty over the course of their contract. As a result, in the event of a fee increase or the introduction of a new fee, merchants will be allowed to opt out of their contracts, without facing any form of penalty, within 90 days of receiving notice of the fee increase or the introduction of a new fee.

Merchants may not cancel their contracts in relation to fee increases made in accordance with pre-determined fee schedules, such as those based on merchant sales volume, provided that the schedules are included in the merchant’s contract.

pbhcanada.ca
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ANTI-SQUARE POST OR WHY SQUARE IS BAD FOR YOU AND YOUR BUSINESS

You've probably seen Square TV ads or bumped into paid people spamming Facebook with Square recitals and wondered what's true or not.

Yours truly signed up for Square and here is what I found:
Square approves everyone on the spot, they accept everyone, then block your account if things are not to their liking, such as business type, high ticket items, or frequency of transactions. So, you are at their mercy.
Many believe Square has no contract. Wrong. It has a contract when you sign up online. You click that you agree with their terms and conditions, so they can shut down your account at any time or change the rate at any time. No security.
The dongle is indeed free and it's tiny but it swivels all around when you try to swipe a card, it's not secure.
It doesn't take Interac debit or chip cards, doesn't print receipts, has no ability to take a PIN number from a customer.
Because there are no receipts and no PIN entry, you have no proof that the transaction actually took place and it was not a fraud. Therefore, a disgruntled customer could come to her bank and get the money back, which the bank will in turn charge you and you will face a chargeback, and then account closure. Not fun. I've heard a story of a flower shop business on St.Valentine's eve taking orders worth $5,000 and a few days before, they shut his account down, so he has no access to the money and cannot fulfill his orders on St.Valentine's. Most importantly, all the women who were left out on that day :-(
Don't know if my dongle was defective but I replaced it twice. For replacement, you would have to go to Best Buy and pay out of pocket for it.
Dongle requires full volume on your phone, drains battery in an hour.
No hidden fees? What about your bank deposit fees for every deposit you make?
I didn't lose the money like our hero from flower shop on St.Valentine's but I lost a few test transactions because I entered the wrong bank account number when I got set up. I got no notification that the deposit bounced. Then I corrected the bank account and the money is still in the air, not deposited, several months later now... Something to think about.
They have no customer support, no phone number to call. So I can't reconcile my account and can't locate the lost funds and nobody to talk to about that. Yikes!
Insecure, customers don't trust swiping their $10,000 limit credit cards on somebody's phone.
There are big boys behind Square, so it's not all rosy. It's not Square that processes processes your transactions, it's Chase on the back end, so they can shut down and block your account as well.





Thank you for reading.
Please check us out here http://pbhcanada.ca
Or write us here mail@pbhcanada.ca
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