National Processing Company Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: February 15th, 2012.

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Overview:
National Processing Company (NPC) is a merchant account provider based out of Louisville, Kentucky. They were recently acquired by Fifth Third Processing Solutions (aka Vantiv). According to their website, they work with about 240,000 merchants, which makes them a pretty large processor. Their self-declared specialty is with small and medium-sized businesses (SMB's).

Here are a few things that you should know about NPC...

• A merchant account through NPC carries with it a $250 cancellation fee. If you plan on signing up with them, ask your rep if they'll waive the fee. Be sure to get it in writing.
• They have a tendency to push terminal leases which is never a good thing for a small merchant. Don't lease. Ask if you can buy the credit card machine outright.

They have a large number of BBB complaints, but that is to be expected since they are such a large company. I would say that NPC is an average processor, and that your experience with them will largely depend on what type of terms/rates that you can get with them.

If you plan on getting an account through National Processing Company, then I highly recommend you consult me first. At least I can walk you through the process and hopefully get you a fair deal.

NPC gets a 3.5 out of 5.

Date Established:
NPC was formed in the 60's, but has gone through many mergers and owner changes since then.

Location:
Louisville, Kentucky.

Domain Name(s):
www.npc.net

Parent/Partner Company:
NPC was purchased by Fifth Third Processing solutions (now known as Vantiv) in 2010.

They are also associated with the following DBA's:

• NPC
• Retriever Payment Systems
• Retriever Check
• NPC Check, Inc.
• NPC Check
• Retriever America's Payment Systems Authority
• NPC America's Payment System Authority
• Retriever Leasing
• NPC Select Services
• Best Payment Solutions, Inc.
• Merchant Services
• National Processing Company f/k/a RPSI, Inc. d/b/a Retriever Payment Systems National Processing Company NPC RPSI, Inc
• Lease Capital Group
• Retriever Check, Inc.
• Iron Triangle Payment Systems (ITPS)

Type:
Payment Processor.

Acquiring Bank(s) (Acquirer):
First National Bank of Omaha (FNBO) and Wells Fargo Bank.

Payment Processor(s):
NPC is a direct processor.

Payment Gateway(s):
They have their own payment gateway called NPC Secure.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
You can find the National Processing Company BBB profile here. They have an "A+" rating with 271 complaints as of this update.

Negative Reviews/Complaints:
Although they have a large number of complaints with the BBB, they surprisingly have only a small number of negative reviews across the rest of the web.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through Lease Finance Group (LFG) and Lease Capital Group (LCG): Some merchants have complained about not being aware that they were signing into a 4-year terminal lease. The whole "not being aware" part can be chalked up to the merchant not fully understanding how leasing works. I personally think terminal leasing is unnecessary to begin with. If you're a small merchant, and you only need a few terminals, then why not just buy them? They don't cost much these days. Leases make sense for bigger organizations that need many terminals, and don't have the upfront capital to invest in buying them.
• Cancellation Fee: If you want to cancel before your contract is up (3-years), then NPC will charge you a $250 cancellation fee. That's actually on the low side compared to some other providers. Even still, it's hard to go with a provider that charges a cancellation fee when there are many other companies that don't.
• PCI compliance fee: A few of NPC's merchants are having an issue with the PCI compliance fees that NPC charges. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, NPC is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you. Click here to learn more about PCI compliance fees.

Verifiable Testimonials/References:
They don't have any testimonials on their site, so be sure to ask for references.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of National Processing Company, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
Existing customers get 24/7 service and support. Have you worked with NPC? Feel free to leave us your review. Don't forget to read the the user review and comment policy.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
$250.

Interchange-Plus Pricing:
Interchange-plus is offered by National Processing Company. Be sure to learn what it is, then ask for it.

Seasonal Downtime:
Seasonal downtime is also offered by National Processing Company.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Mobile, Cash Advance, Recurring Payments, eCheck Processing, Gift & Loyalty, Point-Of-Sale (POS), Check Processing.

Product/Service Specialty:
Small and Medium sized businesses (SMBs).

Don't forget to leave your review and rating in the comment section.

Sage Payment Solutions Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: February 9th, 2012.

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Overview:
Sage Payment Solutions is based out of McLean, Virginia and has been in business since 1989. They are one of the larger credit card processors out there and offer a wide range of services including mobile payments.

They have a decent amount of complaints on their BBB profile, but relative to their size, it's not an alarming amount.

The main reason why they received a lower score from me is because their merchant accounts seem to carry a high early termination fee (see Cancellation Fee). When there are other providers that don't charge a cancellation fee at all, it becomes difficult justifying going with a provider like Sage. If you still want to work with them, then I suggest you ask if they will waive the cancellation fee for you.

You can find them on Facebook, Twitter, LinkedIn and Youtube.

Read the rest of this review for more information about Sage.

Sage Payment Solutions gets a 3.5 out of 5 rating.

Date Established:
1989.

Location:
McLean, Virginia.

Domain Name(s):
www.sagepayments.com

Parent/Partner Company:
Sage Payment Solutions is part of The Sage Group conglomerate.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Harris Bank and HSBC Bank.

Payment Processor(s):
Sage is the processor, but they also contract with TSYS and Chase Paymentech.

Payment Gateway(s):
They use their self-branded Sage Gateway, so make sure it's compatible with the shopping cart you plan on using.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
You can find the Sage Payment Solutions BBB profile here. They have an "A-" rating and 35 complaints as of this update.

Negative Reviews/Complaints:
There are a decent amount of negative reviews and complaints spread across the web. The best way to seek them out would be to do a search for Sage Payment Solutions complaints, Sage Payment Solutions reviews, Sage Payment Solutions scam, etc...

Common Complaints:
From the complaints that I read, it was hard for me to nail down any specific patterns, but here are a few things worth mentioning...

• High cancellation fee: Sage Payment Solutions charges an early termination fee. From what I've read, that fee can vary widely, so what that tells me is that they probably have some sort of liquidated damages type cancellation fee, where they charge you a set amount multiplied by the number of months left in your contract. Definitely not a good setup.
• PCI compliance fee: It seems Sage charges an annual PCI compliance fee of $100.00. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, Sage is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.
• Poor customer service: There were a few complaints about Sage's customer service, or lack thereof.

Verifiable Testimonials/References:
You can find a few success stories and testimonials on the Sage website. Good stuff Sage! Be sure to ask them for references as well. Specifically for companies that are in your same industry.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Sage Payment Solutions, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I tried to contact their sales and support on two separate occasions via email, and once during a live chat session. I didn't get a response to either email, and I ended up closing the chat session after waiting about 10 minutes. I've also read some complaints about Sage's customer service/support so I don't believe it's the best.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
I wasn't able to get an exact amount for the Sage early termination fee, but noticed varying amounts based on the complaints that I read. I'm assuming that they have some sort of Liquidated Damages type contract, which can be especially expensive to the merchant.

Interchange-Plus Pricing:
Interchange-plus is offered by Sage Payment Solutions. Make sure you ask for it though. Most processors don't offer it up unless it's asked for.

Seasonal Downtime:
Seasonal downtime is also offered by Sage.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, ACH, Mobile, Gift & Loyalty, Cash Advance, Recurring Billing, Virtual Terminal.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Bank of America Merchant Services Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: February 8th, 2012.

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Overview:
Bank of America (BofA) offers credit card processing services under the name Bank of America Merchant Services or BAMS for short. BAMS is the by-product of a partnership between Bank of America and First Data (FD) that started in 2009.

First Data serves as the payment processor for BofA. Confused yet? Well, don't overthink it too much. The only thing that you need to know is that whenever you sign up for a merchant account through Bank of America, you're also signing up for a merchant account through First Data. The two go hand-in-hand.

Why is that important? It's important because it's always good to know all parties involved. You may at some point have to deal with FD's customer service department, or if there's any type of downtime or security breach to FD's system, then that may affect you as a BofA customer.

Moving on...

Since the partnership between BofA and FD is still in its infancy (2009), its still early to tell how good it's going to be for you as the merchant. There are only a small amount of complaints targeting the merchant services department specifically, so we'll have to wait and see.

In the meantime, here are a few things that you should know...

• A merchant account through BofA carries with it a $495 cancellation fee. If you plan on signing up with them, ask your rep if they'll waive the fee. Be sure to get it in writing.
• They have a tendency to push the credit card machine lease on merchants which is never a good thing for a small merchant. Don't lease. Ask if you can buy the credit card machine outright. See Common Complaints below for more info.
• They have a tendency to use enhanced billback billing methods. See here to learn more. Billback is a no-no. Trust me, you don't want billback.

If you plan on getting an account through BofA, then I highly recommend you consult me first. At least I can walk you through the process and hopefully get you a good deal.

One positive aspect to the Bank of America merchant account is that if you bank with them, then you can get your money deposited into your account the next day (most of the time). Rather than the usual 48hrs+ that it takes for most other providers.

Bank of America Merchant Services gets a 3.5 out of 5.

Date Established:
2009.

Location:
Spokane, Washington.

Domain Name(s):

• www.bankofamerica.com

Parent/Partner Company:
Bank of America is the Parent company. They started their partnership with First Data back in 2009.

Type:
Acquirer.

Acquiring Bank(s) (Acquirer):
Bank of America.

Payment Processor(s):
First Data.

Payment Gateway(s):
Authorize.Net or First Data Global Gateway (formerly known as LinkPoint).

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
BofA has a separate BBB profile for its banking wing vs. its credit card processing wing. Since the credit card processing wing is still pretty young, you're going to have trouble finding very many complaints on that profile.

Negative Reviews/Complaints:
You're going to have a tough time separating the complaints for Bank of America's regular business from their merchant services division, but you can do what I did. Search for "Bank of America Merchant Services complaints" or "Bank of America Merchant Services reviews." At least that way you can filter them a bit.

With that said, I wasn't able to find very many complaints for the merchant services division. Most likely because they've only been around since 2009.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through First Data Global Leasing: Some merchants have complained about not being aware that they were signing into a 4-year terminal lease. The whole "not being aware" part can be chalked up to the merchant not fully understanding how leasing works. I personally think terminal leasing is unnecessary to begin with. If you're a small merchant, and you only need a few terminals, then why not just buy them? They don't cost much these days. Leases make sense for bigger organizations that need many terminals, and don't have the upfront capital to invest in buying them.
• Witholding of funds/termination of accounts: This can happen for a number of reasons. Chargebacks and/or suspicious charges can easily raise a red flag that will either get you suspended or shut down. Both First Data and Bank of America have been known to be a bit trigger happy when it comes to holding funds or terminating accounts. You're going to want to learn how to avoid holds and minimize chargebacks, if you plan on signing up with BofA.
• Enhanced Billback: Bank of America and First Data are also known for using a billing technique called enhanced billback, which isn't the most transparent billing method. I plan on writing about it in the future, but in the meantime, you can learn about it here.
• High Cancellation Fee: If you want to cancel before your contract is up (3-years), then Bank of America will charge you a $495 cancellation fee. That's pretty steep considering there are plenty of other providers that don't charge a fee at all.
• Poor Customer Service: I really wouldn't expect much from such a large bureaucratic organization like Bank of America. You're usually a number, and not a name. Maybe they can prove me wrong.

Verifiable Testimonials/References:
There aren't any testimonials on the Bank of America website that I could find, but when you're dealing with a company like BofA, the name speaks for itself. Try to ask your sales rep for references. Specifically for businesses that operate in your same industry.

Security/Privacy:
The Bank of America online application is secured by Verisign.

Customer Service:
Existing customers get 24/7 service and support. The quality of that support on the other hand is questionable (see Common Complaints). Have you worked with Bank of America? Feel free to leave us your review. Don't forget to read the the user review and comment policy.

Contract Duration:
3-years.

Cancellation Fee:
$495.

Interchange-Plus Pricing:
Interchange-plus is offered by Bank of America. Be sure to learn what it is, then ask for it when the time comes.

Seasonal Downtime:
Seasonal downtime is also offered by Bank of America.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Mobile, Fraud and Risk Management, Recurring Payments, eCheck Processing, Gift & Loyalty, Point-Of-Sale (POS), Check Processing.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Summit Merchant Solutions Review

Merchant Maverick's Rating: (2 out of 5)

Last Updated: February 7th, 2012.

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Overview:
Summit Merchant Solutions (SMS) is a subsidiary of First American Payment Systems (FAPS), and is part of a three company conglomerate including TransTech Merchant Group and Certified Payment Processing. They have been in business since 2005 (according to the BBB) and are based in Carrolton, Texas.

SMS and its sister companies have racked up quite a few complaints in the past few years. I found some commonalities amongst those complaints, so be sure to read the Common Complaints section below to learn more.

Additionally, a merchant account with SMS carries a hefty early termination fee (see Cancellation Fee) that can cost a merchant hundreds, if not thousands to get out of.

Given the large number of complaints, and expensive cancellation fee, I can't in good conscience recommend SMS as a good processor. My suggestion would be to find someone else.

Summit Merchant Solutions gets a 2 out of 5 rating.

Date Established:
2005.

Location:
Carrolton, Texas.

Domain Name(s):
www.sms-360.com

Parent/Partner Company:
Summit Merchant Solutions is owned by First American Payment Systems, and is part of a three company conglomerate including TransTech Merchant Group and Certified Payment Processing.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
First American Payment Systems.

Payment Gateway(s):
Authorize.Net or FirstPay.Net 2.0.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
You can find the Summit Merchant Solutions BBB profile here. They have a "D+" rating and 36 complaints as of this update.

Negative Reviews/Complaints:
Look here and here for negative reviews and complaints against Summit Merchant Solutions. They also have a Yelp profile.

You can also search for reviews and complaints related to SMS's sister companies TransTech Merchant Group and Certified Payment Processing.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through Merimac Capital: Looks like Summit Merchant Solutions likes to push credit card machine leasing. Leases are a big money maker for processors that push them, but because they're so unfair to the merchant, most of the honest processors have walked away from them. A terminal lease usually carries a 4-year contract, which can be extremely expensive to get out of. Nowadays you can buy a terminal outright for far cheaper. Leases only make sense for very large organizations that need multiple terminals and don't have the upfront capital to purchase them.
• Large number of complaints from former sales reps: Whenever I see a high number of complaints from sales reps, it tells me that the company is running a "churn and burn" type operation. The goal being to get as many commission-only independent or in-house sales agents under the SMS banner, then letting them loose. The focus becomes quantity over quality. That's always a bad recipe for the merchant because usually these reps aren't educated enough and end up signing you into bum deals due to the lure of a fat paycheck.
• High cancellation fee: Here's what the Summit Merchant Solutions agreement says about their cancellation fee; "MERCHANT agrees to pay bank/processor early termination fees established by Bank, but in no event less than four hundred ninety five dollars ($495.00) for each MERCHANT location, plus any and all losses (including consequential damages and loss of profits, costs, expenses, and liabilities) incurred by Bank in connection with termination." So, bottom line is that you'll pay a MINIMUM of $495 to break your contract...most likely more than that.
• PCI compliance fee: A few of SMS's merchants are having an issue with the annual PCI compliance fee of $124.74. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, SMS is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.

Verifiable Testimonials/References:
No verifiable testimonials on the Summit Merchant Solutions website.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Summit Merchant Solutions, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I haven't dealt with SMS's customer service, so it's difficult for me to make an assessment here. If you've been a customer of Summit Merchant Solutions, please let us know.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
No less than $495.00 for each location including consequential damages and loss of profits, costs, expenses, and liabilities. This considered a Liquidated Damages type contract, and can be especially expensive to the merchant.

Interchange-Plus Pricing:
Interchange-plus is offered by SMS.

Seasonal Downtime:
Seasonal downtime is also offered by SMS.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Secur-Chex, Gift & Loyalty, ATM, Cash Advance, Recurring Billing.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Certified Payment Processing Review

Merchant Maverick's Rating: (2 out of 5)

Last Updated: February 7th, 2012.

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Overview:
Certified Payment Processing (CPP) is a subsidiary of First American Payment Systems (FAPS), and is part of a three company conglomerate including TransTech Merchant Group and Summit Merchant Solutions. They have been in business since 2005 (according to the BBB) and are based in Carrolton, Texas.

CPP and its sister companies have racked up quite a few complaints in the past few years. I found some commonalities amongst those complaints, so be sure to read the Common Complaints section below to learn more.

Additionally, a merchant account with CPP carries a hefty early termination fee (see Cancellation Fee) that can cost a merchant hundreds, if not thousands to get out of.

Given the large number of complaints, and expensive cancellation fee, I can't in good conscience recommend CPP as a good processor. My suggestion would be to find someone else.

Certified Payment Processing gets a 2 out of 5 rating.

Date Established:
2005.

Location:
Carrolton, Texas.

Domain Name(s):
www.cpp-360.com

Parent/Partner Company:
Certified Payment Processing is owned by First American Payment Systems, and is part of a three company conglomerate including TransTech Merchant Group and Summit Merchant Solutions.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
First American Payment Systems.

Payment Gateway(s):
Authorize.Net or FirstPay.Net 2.0.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
Certified Payment Processing shares the same BBB profile with one of its sister companies TransTech Merchant Group. You can find the profile here. They have a "D" rating and 75 complaints as of this update.

Negative Reviews/Complaints:
You can find some complaints against Certified Payment Processing here and here.

You can also search for reviews and complaints related to CPP's sister companies TransTech Merchant Group and Summit Merchant Solutions.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through Merimac Capital: Looks like Certified Payment Processing likes to push terminal leases. Leases are a big money maker for processors that push them, but because they're so unfair to the merchant, most of the honest processors have walked away from them. A terminal lease usually carries a 4-year contract, which can be extremely expensive to get out of. Nowadays you can buy a terminal outright for far cheaper. Leases only make sense for very large organizations that need multiple terminals and don't have the upfront capital to purchase them.
• Large number of complaints from former sales reps: Whenever I see a high number of complaints from sales reps, it tells me that the company is running a "churn and burn" type operation. The goal being to get as many commission-only independent or in-house sales agents under the CPP banner, then letting them loose. The focus becomes quantity over quality. That's always a bad recipe for the merchant because usually these reps aren't educated enough and end up signing you into bum deals due to the lure of a fat paycheck.
• High cancellation fee: Here's what the Certified Payment Processing agreement says about their cancellation fee; "MERCHANT agrees to pay bank/processor early termination fees established by Bank, but in no event less than four hundred ninety five dollars ($495.00) for each MERCHANT location, plus any and all losses (including consequential damages and loss of profits, costs, expenses, and liabilities) incurred by Bank in connection with termination." So, bottom line is that you'll pay a MINIMUM of $495 to break your contract...most likely more than that.
• PCI compliance fee: A few of CPP's merchants are having an issue with the annual PCI compliance fee of $124.74. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, CPP is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.

Verifiable Testimonials/References:
No verifiable testimonials on the Certified Payment Processing website.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Certified Payment Processing, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I haven't dealt with CPP's customer service, so it's difficult for me to make an assessment here. If you've been a customer of Certified Payment Processing, please let us know.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
No less than $495.00 for each location including consequential damages and loss of profits, costs, expenses, and liabilities. This considered a Liquidated Damages type contract, and can be especially expensive to the merchant.

Interchange-Plus Pricing:
Interchange-plus is offered by CPP.

Seasonal Downtime:
Seasonal downtime is also offered by CPP.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Secur-Chex, Gift & Loyalty, ATM, Cash Advance, Recurring Billing.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

TransTech Merchant Group Review

Merchant Maverick's Rating: (2 out of 5)

Last Updated: February 7th, 2012.

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Overview:
TransTech Merchant Group (TMG) has been in business since 2005 (according to the BBB). TMG is a subsidiary of First American Payment Systems (FAPS), and is part of a three company conglomerate including Certified Payment Processing and Summit Merchant Solutions.

For a company that hasn't been around for very long, they've managed to rack up quite a few complaints. I found some commonalities amongst those complaints, so be sure to read the Common Complaints section below.

A merchant account with TMG carries a hefty early termination fee (see Cancellation Fee) that can cost a merchant hundreds, if not thousands to get out of.

My suggestion would be to find a different provider for your processing needs.

TransTech Merchant Group gets a 2 out of 5 rating.

Date Established:
2005.

Location:
Carrolton, Texas.

Domain Name(s):
www.tmg-360.com

Parent/Partner Company:
TransTech Merchant Group is owned by First American Payment Systems, and is part of a three company conglomerate including Certified Payment Processing and Summit Merchant Solutions.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
First American Payment Systems.

Payment Gateway(s):
Authorize.Net or FirstPay.Net 2.0.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
You can find the TransTech Merchant Group BBB profile here. They have a "D" rating and 75 complaints as of this update.

Negative Reviews/Complaints:
There are quite a few negative reviews and complaints against TransTech Merchant Group. You can find some here, here and here. For a company that has only been around since 2005, that's not a good sign.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through Merimac Capital: Looks like TransTech Merchant Group likes to push terminal leases. Leases are a big money maker for processors that push them, but because they're so unfair to the merchant, most of the honest processors have walked away from them. A terminal lease usually carries a 4-year contract, which can be extremely expensive to get out of. Nowadays you can buy a terminal outright for far cheaper. Leases only make sense for very large organizations that need multiple terminals and don't have the upfront capital to purchase them.
• Large number of complaints from former sales reps: Whenever I see a high number of complaints from sales reps, it tells me that the company is running a "churn and burn" type operation. The goal being to get as many commission-only independent or in-house sales agents under the TMG banner, then letting them loose. The focus becomes quantity over quality. That's always a bad recipe for the merchant because usually these reps aren't educated enough and end up signing you into bum deals due to the lure of a fat paycheck.
• High cancellation fee: Here's what the TransTech Merchant Group agreement says about their cancellation fee; "MERCHANT agrees to pay bank/processor early termination fees established by Bank, but in no event less than four hundred ninety five dollars ($495.00) for each MERCHANT location, plus any and all losses (including consequential damages and loss of profits, costs, expenses, and liabilities) incurred by Bank in connection with termination." So, bottom line is that you'll pay a MINIMUM of $495 to break your contract...most likely more than that.
• PCI compliance fee: A few of TMG's merchants are having an issue with the annual PCI compliance fee of $124.74. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, TMG is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.

Verifiable Testimonials/References:
No verifiable testimonials on the TransTech Merchant Group website.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of TransTech Merchant Group, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I haven't dealt with TMG's customer service, so it's difficult for me to make an assessment here. If you've been a customer of TransTech Merchant Group, please let us know.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
No less than $495.00 for each location including consequential damages and loss of profits, costs, expenses, and liabilities. This considered a Liquidated Damages type contract, and can be especially expensive to the merchant.

Interchange-Plus Pricing:
Interchange-plus is offered by TMG.

Seasonal Downtime:
Seasonal downtime is also offered by TMG.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Secur-Chex, Gift & Loyalty, ATM, Cash Advance, Recurring Billing.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Eliot Management Group Review

Merchant Maverick's Rating: (3 out of 5)

Last Updated: February 3rd, 2012.

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Overview:
Eliot Management Group (EMG) has been in business since 1999. They have offices all over the country, but are headquartered in Fort Worth, Texas. EMG is a subsidiary of First American Payment Systems (FAPS), so chances are you've seen the FAPS name somewhere on your EMG contract.

The best info can be found throughout the rest of this review, but I'll give you a quick overview here...

• EMG has a large number of complaints filed against it. Although they are a big company, it seems that they have racked up quite a few more complaints than other companies of their size or larger.
• I'm not a fan of the EMG cancellation fee (see Cancellation Fee below).
• I'm not a fan of the terminal lease contracts that EMG pushes through it's sister company Merimac Capital (see Common Complaints below). Rarely does a terminal lease make sense for a small merchant.

Eliot Management Group gets a 3 out of 5 rating.

Date Established:
1999.

Location:
Multiple locations. Headquartered in Fort Worth, Texas.

Domain Name(s):
www.e-mg.com

Parent/Partner Company:
Eliot Management Group is owned by First American Payment Systems.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
First American Payment Systems.

Payment Gateway(s):
Authorize.Net or FirstPay.Net 2.0.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
You can find the Eliot Management Group BBB profile here. They have a "C+" rating and 124 complaints as of this update.

Negative Reviews/Complaints:
There are quite a few negative reviews and complaints against EMG. You can find some here and here.

They also have a few Yelp profiles for their different office locations here, here and here.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through Merimac Capital: Looks like EMG likes to push terminal leases. A terminal lease usually carries a 4-year contract, which can be extremely expensive to get out of. These days you can buy a terminal outright for far cheaper. Leases only make sense for very large organizations that need multiple terminals and don't have the upfront capital to purchase them.
• PCI compliance fee: A few of EMG's merchants are having an issue with the annual PCI compliance fee of $124.74. Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, EMG is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.
• Unauthorized debits after account closure: This is unfortunate because it causes the merchant to have to close down their bank account in order to stop any unauthorized debits. A huge hassle!
• High number of complaints from former sales reps: Whenever I see a high number of complaints from sales reps, it tells me that the company is running a "churn and burn" type operation. The goal being to get as many commission-only independent or in-house sales agents under the EMG banner, then letting them loose. The focus becomes quantity over quality. That's always a bad recipe for the merchant because usually these reps aren't educated enough and end up signing you into bum deals due to the lure of a fat paycheck.
• High cancellation fee: Here's what the Eliot Management Group says about their cancellation fee; "MERCHANT agrees to pay bank/processor early termination fees established by Bank, but in no event less than four hundred ninety five dollars ($495.00) for each MERCHANT location, plus any and all losses (including consequential damages and loss of profits, costs, expenses, and liabilities) incurred by Bank in connection with termination." So, bottom line is that you'll pay a MINIMUM of $495 to break your contract...most likely more than that.

Verifiable Testimonials/References:
No verifiable testimonials on the EMG website.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Eliot Management Group, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I haven't dealt with EMG's customer service, so it's difficult for me to make an assessment here. They do offer 24/7 support though. That's always a plus.

If you've been a customer of Eliot Management Group, please let us know.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
No less than $495.00 for each location including consequential damages and loss of profits, costs, expenses, and liabilities. In other words, the cancellation fee can be whatever they say it is, but DEFINITELY not less than $495.00. Also known as a liquidated damages contract.

Interchange-Plus Pricing:
Interchange-plus is offered by Eliot Management Group.

Seasonal Downtime:
Seasonal downtime is also offered by EMG.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Secur-Chex Check Processing, Gift & Loyalty, EBT.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Apex Merchant Group Review

Merchant Maverick's Rating: (2 out of 5)

Last Updated: February 1st, 2012.

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Overview:
Apex Merchant Group is based in Plano, Texas and has been in business since 2008 (according to the BBB). They use First American Payment Systems as their payment processor, so chances are you've seen the First American name somewhere on your contract, if you've done business with Apex.

For a company that hasn't been around for very long, they've managed to rack up quite a few complaints. I found some commonalities amongst those complaints, so be sure to read the Common Complaints section.

Read through the rest of this review for more info on Apex Merchant Group.

Apex gets a 2 out of 5 rating.

Click Here If You Need Help Choosing a Provider

Date Established:
2008.

Location:
Plano, Texas.

Domain Name(s):
www.apexmg.net

Parent/Partner Company:
Doesn't look like Apex has a parent company.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
First American Payment Systems.

Payment Gateway(s):
Authorize.Net or FirstPay.Net 2.0.

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
You can find the Apex Merchant Group BBB profile here. They have a "D" rating and 106 complaints as of this update.

Negative Reviews/Complaints:
There are quite a few negative reviews and complaints against Apex. You can find some here and here. For a company that has only been around since 2008, that's not a good sign.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through Merimac Capital: Looks like Apex likes to push terminal leases. Leases are a big money maker for processors that push them, but because they're so unfair to the merchant, most of the honest processors have walked away from them. A terminal lease usually carries a 4-year contract, which can be extremely expensive to get out of. Nowadays you can buy a terminal outright for far cheaper. Leases only make sense for very large organizations that need multiple terminals and don't have the upfront capital to purchase them.
• High cancellation fee: Here's what the Apex agreement (see section #23) says about their cancellation fee; "MERCHANT agrees to pay bank/processor early termination fees established by Bank, but in no event less than four hundred ninety five dollars ($495.00) for each MERCHANT location, plus any and all losses (including consequential damages and loss of profits, costs, expenses, and liabilities) incurred by Bank in connection with termination." So, bottom line is that you'll pay a MINIMUM of $495 to break your contract...most likely more than that.
• PCI compliance fee: A few of Apex's merchants are having an issue with the annual PCI compliance fee of $124.74 (see section #21 of the Apex agreement). Although PCI compliance is necessary for anyone that plans on accepting credit cards for their business, Apex is not required to charge their merchants any type of fee for that compliance. So, contrary to what you may have heard, processor's are not required to pass that charge on to you.
• High number of complaints from former sales reps: Whenever I see a high number of complaints from sales reps, it tells me that the company is running a "churn and burn" type operation. The goal being to get as many commission-only independent or in-house sales agents under the Apex banner, then letting them loose. The focus becomes quantity over quality. That's always a bad recipe for the merchant because usually these reps aren't educated enough and end up signing you into bum deals due to the lure of a fat paycheck.

Verifiable Testimonials/References:
No verifiable testimonials on the Apex website.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant account provider is collecting from you. If they require you to fill out a full digital application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of Apex Merchant Group, the initial contact form only requires some basic info, then the real application is taken care of by fax or later on through a secure online app.

Customer Service:
I haven't dealt with Apex's customer service, so it's difficult for me to make an assessment here. It doesn't look like they offer 24/7 support though. If you've been a customer of Apex Merchant Group, please let us know.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
No less than $495.00 for each location including consequential damages and loss of profits, costs, expenses, and liabilities (see section #23 of the Apex Agreement). In other words, the cancellation fee can be whatever the hell they want it to be, but DEFINITELY not less than $495.00

Interchange-Plus Pricing:
Interchange-plus is offered by Apex.

Seasonal Downtime:
Seasonal downtime is also offered by Apex.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Check Processing, Gift & Loyalty, EBT.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Wells Fargo Merchant Services Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: January 27th, 2012.

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Overview:
In addition to its regular banking wing, Wells Fargo (WF) has a credit card processing division as well. If you're reading this review, then you probably already knew that. What you might not have known is that when you sign up for a merchant account through Wells Fargo, you're also signing up for an account with First Data. First Data acts as the payment processor for Wells Fargo, and Wells Fargo acts as the acquiring bank. It all sounds pretty confusing, but if you read this article, you'll understand it a bit better.

Putting that aside, the most important thing for you to remember is that Wells Fargo and First Data go hand in hand. So chances are, you'll at some point have to deal with both companies during your lifespan as a merchant.

Moving on...

I suggest you read the Common Complaints section below. That's where you'll find the most important info about Wells Fargo. Like the fact that they charge a $500 early termination fee, or that they have a tendency to push terminal leases and enhanced billback billing. All of which add up to a not-so-great experience for you. If you plan on getting an account through WF, then I highly recommend you consult me first. At least I can walk you through the process and hopefully get you out of that $500 early termination fee.

One positive aspect to the Wells Fargo merchant account is that if you bank with them, then you can get your money deposited into your account the next day. Rather than the usual 48hrs+ that it takes for most other providers.

Wells Fargo Merchant Services gets a 3.5 out of 5.

Click Here If You Need Help Choosing a Provider

Date Established:
1999.

Location:
Several branches throughout the U.S.. Headquartered in San Francisco, California.

Domain Name(s):

• https://www.wellsfargo.com/biz/merchant/

Parent/Partner Company:
Wells Fargo is the Parent company.

Type:
Acquirer.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
First Data.

Payment Gateway(s):
Authorize.Net or First Data Global Gateway (formerly known as LinkPoint).

Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
Since the credit card processing and regular banking divisions of Wells Fargo are under the same roof, the BBB profile doesn't really help us much. Here it is nonetheless. Just keep in mind that the complaints you see on that profile will be a mix of both regular banking customers, and those that have used Wells Fargo's merchant services.

Negative Reviews/Complaints:
You're going to have a tough time separating the complaints for Wells Fargo's regular business from their merchant services division, but you can do what I did. Search for "Wells Fargo Merchant Services complaints" or "Wells Fargo Merchant Services reviews." At least that way you can filter them a bit.

With that said, you can find some complaints here and here.

Common Complaints:
Here are some common problems that you may want to look out for...

• Expensive terminal lease contracts through First Data Global Leasing: Some merchants have complained about not being aware that they were signing into a 4-year terminal lease. The whole "not being aware" part can be chalked up to the merchant not fully understanding how leasing works. I personally think terminal leasing is unnecessary to begin with. If you're a small merchant, and you only need a few terminals, then why not just buy them? They don't cost much these days. Leases make sense for bigger organizations that need many terminals, and don't have the upfront capital to invest in buying them.
• Witholding of funds/termination of accounts: This can happen for a number of reasons. Chargebacks and/or suspicious charges can easily raise a red flag that will either get you suspended or shut down. Both First Data and Wells Fargo have been known to be a bit trigger happy when it comes to holding funds or terminating accounts. You're going to want to learn how to avoid holds and minimize chargebacks, if you plan on signing up with WF.
• Enhanced Billback: Wells Fargo and First Data are also known for using a billing technique called enhanced billback, which isn't the most transparent billing method. I plan on writing about it in the future, but in the meantime, you can learn about it here.
• High Cancellation Fee: If you want to cancel before your contract is up (3-years), then Wells Fargo will charge you a $500 cancellation fee. That's pretty steep considering there are plenty of other providers that don't charge a fee at all.
• Poor Customer Service: I really wouldn't expect much from such a large bureaucratic organization like Wells Fargo. You're usually a number, and not a name. Maybe they can prove me wrong.
• Increasing of Fees After Sign-Up: Although Wells Fargo has a right to increase fees, it's still a hard thing to swallow for any merchant. And judging by the number of complaints I've read about this matter, it seems WF likes to raise its rates frequently.

Verifiable Testimonials/References:
There aren't any testimonials on the Wells Fargo website that I could find, but when you're dealing with a company like WF, the name speaks for itself. Try to ask your sales rep for references. Specifically for businesses that operate in your same industry.

Security/Privacy:
The Wells Fargo online application is secured by Verisign.

Customer Service:
Existing customers get 24/7 service and support. The quality of that support on the other hand is questionable (see Common Complaints). Have you worked with Wells Fargo? Feel free to leave us your review. Don't forget to read the the user review and comment policy.

Contract Duration:
3-years.

Cancellation Fee:
$500.

Interchange-Plus Pricing:
Interchange-plus is offered by Wells Fargo, but good luck getting it on the first try. Most providers don't offer interchange-plus, unless they're asked for it. Even then, they may tell you that they won't be able to give it to you, or that it's "reserved for accounts that do a million or more a month, blah, blah, blah." If that happens to you, then just get an interchange-plus quote from another provider, and Wells Fargo will most likely match it...or they'll lose your business.

Seasonal Downtime:
Seasonal downtime is also offered by Wells Fargo.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Fraud and Risk Management, Recurring Payments, eCheck Processing, Gift & Loyalty, Point-Of-Sale (POS), Check Processing.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.

Sam’s Club Merchant Services Review

Merchant Maverick's Rating: (3.5 out of 5)

Last Updated: October 30th, 2011.

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Overview:
Similar to Costco's credit card processing, Sam's Club also offers merchant account services to its members. And much like Costco, Sam's Club resells the services of another credit card processor, which in this case is First Data.

I'm not going to write a traditional review for Sam's Club's credit card processing, because I've already written one for First Data. And since a merchant account with Sam's Club means that you'll be signing up with First Data, then everything that applies to the First Data review, pretty much applies to Sam's Club.

Now that we've established that Sam's Club is just a reseller of First Data's services, what would be the benefit of going through Sam's Club? Well, on the surface it seems that Sam's Club members get "discounted rates" on their merchant accounts. But the truth is, that a merchant account through Sam's Club isn't as cost-effective as you might think.

There have been quite a few articles that have been written (here, here and here) which show that buying credit card processing services through membership warehouses like Costco and Sam's Club aren't exactly the "discounted" solutions that they claim to be. If you read those articles, you'll learn that although Sam's Club does a wonderful job of offering low prices on everyday goods, they aren't doing the same when it comes to merchant accounts.

With that said, I think you'll have a much better shot at saving money if you use a reputable comparison shopping engine like FeeFighters or CardFellow instead of Sam's Club.

In conclusion, I gave Sam's Club a lower score than First Data because I don't think that Sam's Club should be in the business of reselling credit card processing services. By doing so, they're just adding a layer between the merchant (You) and the processor (First Data), and that layer isn't really offering anything special, except for a little confusion.

Although offering merchant services is a great way for Sam's Club to make some extra money, there's isn't much of a benefit in it for you. If you already know what rate structure to ask for (interchange-plus), and what rates are fair, then you might as well go directly to First Data, OR go with another provider who's main business is credit card processing. Anybody that understands merchant account pricing, and is willing to negotiate will have a better chance of getting a superior deal than what Sam's Club is offering through First Data.

Stick with the wholesale goods Sam's Club. That's what we love you for.