Electronic payments are increasingly common these days, but that doesn’t mean they don’t come with risks for small businesses.
When it comes to payment options, e-payments are often the preferred method for both customers and business owners. Often, all it requires is a simple click and instantly, money from a customer’s bank account is transferred to your business.
With new innovations like mobile credit card readers, there seems to be no stopping the e-payment trend. But along with convenience and ease, there are potential risks you should keep in mind. Here are just a few:
These are just a few of the risks that may come with electronic payments. For answers to specific e-payment issues affecting your business, you may want to consult an experienced business lawyer near you.
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Related Resources:
- Considering Mobile Payments? 5 Legal Tips (FindLaw’s Free Enterprise)
- 5 Credit Card Mistakes for Small Biz to Avoid (FindLaw’s Free Enterprise)
- Customer ID Theft: Are Businesses Liable? (FindLaw’s Free Enterprise)
- Tax Evasion and Fraud (FindLaw)
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