Certified Payment Processing Review

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

Last Updated: February 7th, 2012.

Logo:

About Our Ratings | Need Help Choosing? | Leave Your Review

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.