Visa, Mastercard and the Federal Trade Commission are working out a new series of regulations to protect consumers and businesses from fraudulent online business transactions. To date, there are already hundreds of internet businesses which have lost their merchant accounts in the past couple weeks.
There are always pros and cons in making regulations for a few which affect the many, and this situation is no different.
As some of you may know the online marketing world has been through some crazy stuff the past few weeks. This all surrounds marketers who sell free trial and continuity offers (membership sites & monthly autoship offers). This also touches any business who cross-sells and up-sells products and services.
These rules impact other businesses like direct mail and telephone merchants!
It’s important you fully understand the impact of this on your business. Visa, Mastercard & the FTC are all making some big changes and these new rules have the possibility to hurt your business if you don’t understand them.