Why Credit Processing Companies Need to Ask Merchants for Their Credit Reports

Business owners who want to obtain merchant processing so that they can take credit and debit cards (and other forms of electronic payment) are sometimes annoyed by all the information they must provide to the processing company. After all, they are not applying for credit cards, they just want to accept payments, so why should the company need to run their credit records? To some, it can seem like an unnecessary intrusion on their privacy, and some merchants will refuse to provide that information because they're outraged. They shouldn't be outraged. The need for the information is legitimate. ..»