Why Signing a Contract May Not Be Necessary

Business owners are mostly like familiar with contracts if they are involved with brick and mortar or ecommerce credit card processing. Contracts are supposed to be designed to protect both parties from taking advantage of one another. Unfortunately, the reality exists that whoever is designing the contract is usually the one who benefits the most from it. Sometimes, in business relationships, contracts can be amended and designed by both parties to insure that the terms are agreeable for everyone. However, if one party has more power over the other, and is greatly needed in order for this other party to function, tipping the contract in their favor is easy.

Most customers expect a credit card machine or an online payment gateway when charged for their payments. Credit card companies will usually use this fact and create unbalanced contracts, because they know merchants will sign them. Take power in knowing that you don’t need a contract to receive credit card processing services. There are many providers willing to offer services without a contract.