Crescent Processing Company Review
Merchant Maverick's Rating: (2 out of 5)
Last Updated: April 20th, 2010.
Overview:
Things don't look too great for Crescent Processing Company (CPC) based on what I've found online. Although they've only been around since 2005, they've managed to rack up a decent amount of complaints and negative reviews. I give a full explanation of my opinion about those complaints down in the "Negative Reviews" and "Common Complaints" section below. I highly recommend you read both of them, otherwise you won't get the full story.
Besides that, I see there are some other things aren't too great about CPC. I wasn't able to find any testimonials on their site, which would do wonders in helping to counter the online complaints. They charge a $495 early-termination fee, which is a bit high considering there are other ISO/MPSs that don't even charge a fee, and the 4-year contract is also a bit long.
Like I said above, you need to read this review in full to get an idea of why CPC has so many complaints against it. I don't think they're a bad company, but I do think that it would be wise of you to do your due diligence before signing up. Which is something I would expect a good business owner to do anyway.
I can't give them anything better than a 2 out of 5 for now.
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Date Established:
2005.
Location:
Dallas, Texas.
Domain Name(s):
- www.crescentprocessing.com.
- www.atriumprocessing.com.
Parent/Partner Company:
No parent corporation here.
Type:
Registered ISO/MSP.
Acquiring Bank(s) (Acquirer):
Columbus Bank & Trust.
Payment Processor(s):
TSYS (Vital).
Payment Gateway(s):
Authorize.Net. Do you need help setting up your payment gateway with your website? Click here.
Trust Symbols:
You can find the Crescent Proceesing BBB profile here. It has a "C-" rating as of this review, with 171 complaints in the last 36 months.
Negative Reviews:
You'll find quite a few negatives on RipOffReport, Scam.com, ComplaintsBoard.com and MeasuredUp.
There may be some overlap on a few of the above sites, as some folks like to leave the same complaint in multiple locations.
Common Complaints:
If you take some time to read the complaints, you'll notice that quite a few of them are from ex-sales reps of the company. It seems that Crescent relies heavily on independent sales agents for their business, much like Central Payment Corporation. The problem that that causes for you and I is that our experience with the company as a whole becomes based on our experience with our particular sales reps. Especially if the ISO doesn't have a good handle on they way their reps get the business.
With that said, quite a few merchants complained about "hidden" fees that they believe their sales rep didn't tell them about, or terms and conditions that they were presented with after signing an initial contract. A great deal of those complaints could have been prevented if only the merchants were a bit more vigilant. So, I'm telling you right now, don't take your sales reps word for everything. Verify EVERYTHING! There are ethical reps and unethical ones, but unfortunately, you have to have some level of distrust for all of them if you plan on uncovering the unexpected.
Verifiable Testimonials/References:
No testimonials found on the Crescent Processing site.
Security/Privacy:
Their online application is secured via Security Metrics.
Customer Service:
I haven't dealt with them, so your input would be appreciated.
Contract Duration:
There is a 4-year contract that you have to sign, but I heard they're willing to negotiate.
Cancellation Fee:
Cancellation fee is $495.
Interchange-Plus Pricing:
Interchange-plus is offered, but depends on your business profile and processing volume.
Seasonal Downtime:
Seasonal downtime is not offered by CPC, but I was told that they do keep costs down during down months (be sure to read your contract).
Product/Service Offering:
Retail (Credit/Debit), Gift & Loyalty, Check Conversion, Check Guarantee.
Product/Service Specialty:
None.
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February 21st, 2010 - 14:55
No where did I see on here where you mention that a confirmation call is made after the sign up process is completed and before the equipment is shipped making sure the merchant understands everything.
Yes, there is a recorded confirmation call for the protection of the merchant and for this company clarifying the rates and terms with this company.
Ah, you did clarify that most of the compliants are “ex sales reps”. Maybe they are the unethical ones you are talking about that got caught misleading a merchant during the confirmation call.
You mention that the $495 cancellation fee is high considering some don’t have one at all, but you failed to mention that this company gives the merchant the equipment for FREE and this company keeps the equipment in compliance with VISA/Master Card and others….
So those company’s who lease the equipment for 48 months which can cost as much as $2,000+ dollars during those 48 months and then sale the lease agreement to a third party or those who charge $700-$1,200 dollars for the equipment don’t charge as much for the cancellation fee BECASUE THEY GET THEIR MONEY UPFRONT…
Yes they are some who sell some equipment for less that $700 dollars, but the equipment, well, you get what you pay for!
Yes, this company offers the equipment for FREE and they keep it in compliance. All they ask you to do is use their service for 48 months, but yes, you are right, they have been known to negotiate it down to 3 years and even 2 years for some so this company simply keeps you from paying upfront for quality equipment, but if you try and take their equipment and not use their service they will charge for it….and rightfully so!
So I would ask….would you rather pay $700 dollars or more upfront for quality equipment that is kept in compliance and have a lower cancellation fee or get the equipment at no cost upfront and pay a slighty higher cancellation fee?
Please clairfy your statements when you do your due diligence as well.
February 21st, 2010 - 15:18
Oh yea, I almost forgot, you said…….
“I wasn’t able to find any testimonials on their site, which would do wonders in helping to counter the online complaints.”
First of all, the company does a four minute presentation to the merchant during the presentation face to face on a laptop featuring NFL HOF quarterback Terry Bradshaw as well as testimony’s from merchants….
Second of all, anyone with just a little internet savy knows there are a lot of “scamming” websites who let people post what they want to about anyone and any company, but if you will pay the “scamming” website, they will take the negative stuff off. Can you say extortion??? That is how those “scamming” websites make their money…and they make a lot of money doing just this! Not all of them do, but a lot if not most of them do!
February 21st, 2010 - 17:18
Hi Clarity,
I’m assuming you’re either a rep for Crescent, or possibly someone high up. Either way, I think your full name, would give much more validity to your comments, but I’ll get to that later. I first want to respond to some of your remarks.
That’s great to know. You can rest assured that that fact will be included when I update your review. It’s be great to know how effective that recording is, but I’ll only be able to find that out by asking a few of your merchants myself.
Not sure how we disagree on this point, so I’ll just leave it at that.
I think you make a valid point here. There are cost trade-offs, especially when ISOs try to recoup their loss in one area when they compromise in another. With that said, early-cancellation fees are a very touchy subject with most merchants. Spend a little time reading the boards, and you’ll see that. Especially with card-not-present merchants that don’t even need terminals. Nevertheless, that $495 cancellation fee isn’t the biggest factor in your low score. It played a part, but not a large part.
I believe that I’ve been pretty clear, so I’ll just go ahead and ignore this.
Correct, but you don’t have any visible testimonials on your site. According to what you’re saying, the only time that a merchant will see any testimonials will be during the sales process. That’s a start, but why can’t we see any ahead of time? If you were to email all of your customers right now, and have them leave fully disclosed testimonials on my site, that would be great, and would probably increase your score.
In regards to the Terry Bradshaw endorsement; It’s great that you have him as a spokesperson, but I don’t see how that gives you any credibility with the average merchant.
You’re absolutely right. That’s why I created this site. Although I use RipOffReport, the BBB and other “scam” sites to base part of my reviews on, I mainly created Merchant Maverick to allow for the conversations to eventually move onto my platform. That way, I have control of the positive and negative reviews, and I can police which comments are valid, and which ones aren’t. I don’t charge anyone for anything, and I don’t extort anyone for anything either. When someone comes to my site, and leaves an anonymous comment, I give it absolutely zero credit…including yours. If you are a rep for Crescent, and if you had left a comment on here with your name and contact info, then I would think to myself, “gee these guys really do care about their reputation,” but you didn’t do that.
I urge you to understand something. Merchant Maverick is going to be around for a while. It’s going to bring transparency to a market that has a bit of a bad name, which isn’t a bad thing for either party. Because you’ll finally have a decent platform by which to uphold your reputation as an ISO.
July 6th, 2010 - 22:57
I was recently visited by a sales rep from Crescent. While I find that the sales process is made pretty easy, I did have a feeling in my gut that there was more to the story than I was being told. I have been using merchant services through my bank for some time and have been very pleased. I found the offer through Crescent to be “too goo to be true.” After reading several reviews, not just this one, I think I will pass on any further dealings with Crescent. I feel fortunate that I had the opportunity to read some of these comments. Thanks for doing your due diligence!!!
July 6th, 2010 - 23:01
You’re very welcome Monique.
I’m always trying to better my reviews for you guys, so if you ever feel like I could add/remove something from them, please let me know.
Best of luck to you!