Like individual consumers, small businesses are using credit and debit cards to pay bills online in greater numbers every year. While paying online is convenient, business owners should understand that it comes with some risk of liability that individual consumers are not exposed to.
For instance, consumers are somewhat protected by The Truth in Lending Act, but the FDIC points out that businesses are not covered by the regulations.
If your personal debit card is lost or stolen, a consumer has some protection from unauthorized transactions, but a business may not.
To read more about the implications for your business when paying with plastic Click Here.
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