Latest / Click & Convert with Maria Sparagis
#219 Too Good to Be True? Payment Processing Red Flags
The FTC has proposed $52.9 million in penalties against Cliq Bank, alleging the company failed to comply with prior court-ordered payment processing safeguards.
Maria breaks down what the FTC action against Cliq Bank means for merchants — and why “too good to be true” payment processor claims like instant approval, no reserves, and ultra-low rates are red flags, especially for high-risk businesses.
Payment processing isn’t instant or effortless when done correctly. Legitimate processors follow strict underwriting, compliance, and risk-management standards to protect merchants, banks, and…
The skinny
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