Working with a merchant processing provider allows businesses to accept electronic payments, like credit card, debit card, and ACH transactions. In that relationship, both parties owe it to consumers, and each other, to abide by their agreements. When they fail to do so, they wind up in breach of contract.
When a merchant processing contract is breached, the victim party deserves to be recompensed. To learn more about your legal rights in a breach of contract situation—whether you're a consumer, a merchant, or the payment processing provider—contact the team at Sigal Law Group.
Merchant Processing Breach of Contract Issues
Breach of contract by merchant processing providers or by business owners can take various forms, including:
· Failing to disclose all fees to the business, like monthly minimums, transaction fees, chargeback fees, or termination fees.
· Performing unauthorized rate increases.
· Failing to inform the merchant of service downtime and technical failures that might prevent transactions.
· Improperly or negligently handling chargebacks.
· Terminating the account without cause or without fulfilling the specific conditions outlined in the agreement.
· Misrepresenting the capabilities of certain services and then failing to provide them to businesses.
· Failing to adhere to data security standards like the PCI DSS, whether a data breach occurs or not.
It doesn't matter if you're the payment processing provider or the merchant: If you believe your contract has been breached, an experienced electronic payment processing attorney can help.
Litigating Merchant Processing Breach of Contract
Breach of contract cases should be straightforward but, given the complex nature of electronic payment processing agreements, they're often convoluted. When someone you're working with violates your agreement's terms, the best thing you can do is hire a skilled attorney to help you navigate the process.
Sigal Law Group has helped many businesses and payment processing providers deal with breach of contract issues. We're ready to review your case and determine the best approach. Contact our offices today for help.
