Big internet brand names are ripping customers off and the US Senate Committee on Commerce, Science, and Transportation has had enough, launching a full committee hearing on the topic.
Apparently these well known sites offer discounts to customers who’ve just made a purchase. Once customers confirm they’d like the cash back, their credit card number is passed on to another firm who signs them up for a subscription to useless packages, charging them a monthly fee.
According to techcrunch:
“Affinion, Vertrue, and Webloyalty are the three largest companies partnering on these scams. The report states that these three companies have earned over $1.4 billion in revenue from 35 million transactions. 4 million people are currently enrolled in the plans.”
Hiding Behind the Small Print
While I’m sure the small print not-so-clearly indicates what will happen if customers agree to the discount, the reality is most people don’t/can’t/won’t read it.
The one thing that seems to be scarce online is Trust, and these firms are doing a great job at ruining it for the rest of us.
Shame.