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BEWARE OF THESE DOGS! Credit & Debt Collections Merchant Services - DigiPay Solutions I used Merchant Solutions for approx. Screw this place I wish their was a way we could put them out of business. This company is deceitful. The sales rep never returned my calls and is no longer with thw company. If youre interested in securing a virtual terminal that you can integrate with your businesss payment processing solutions, we recommend that you choose an online payment processor with systems to combat card-related consumer chargebacks that minimize interruptions to your revenue stream. Comp Admin Fee $9.95 How to look up licensees and those debt collectors allowed to do The creditor may also hire a debt collector or sell the debt to someone who may try to collect the debt. Businesses need cash: Restaurants, Bars & Hotels Automotive Salons & Day Spas Doctors, Dentists & Vets Franchises & more Our 24/7 customer support team is always on call to answer your questions and attend to your needs. Merchants Credit Association, is a debt collection company. After i cancle my account they charged me 200$ come out of no where. Note that we are not able to provide private consultations, give advice, or answer questions. Payment Processing . If you stop using it, they still charge you a lot of fees. PaymentCloud can help almost any business get approved for payment processing. This company, Merchant Solutions, is a fraud. Teaming with IVR Technology Group, we also provide pay-by-phone voice . We were charged a $350 restocking fee after being told there would be NO FEES. Specifically, consumer complaint activity alleges this business claims to be a law firm attempting to collect on debts that. So then I cancelled and they charged me a $945 restocking reprogramming fee? Verify before you sign with this company. Maintaining these ratios is challenging for merchants in many industries. PaymentCloud helps merchants navigate the necessary steps to become PCI-compliant within 90 days and without charging a PCI compliance fee. the name of the creditor you owe it to. Sequoia is located in the Agoura Gateway at: Agoura Hills, CA 91301. They get you sign up with them for a minimum fees and after few months they hit you with 7% fees. Debt Collection Agency Merchant Account - PayKings Understand how the CFPB's Debt Collection Rule can help you. The Merchant Solutions is definitely THE worst credit card company EVER!!!! I got a shock when they deducted total of $1000.00 from my account in 4 payments. When account underwriters are deciding the fees or terms for working with them, they will need to see the finances of your business. I finally called and asked to cancel they told me I was in a 3yr contract, I was never told this or else I wouldnt signed up for this torture. There is PayPal and Square, why would me, a small tiny business ever agree to such a thing I wouldnt. Now illness has caused me to lose my merchant tax ID. Even though some providers may appear to be a good fit for you at first, the best payment processors can satisfy your current business needs and grow with your future growth plans. eMerchant Authority prides itself in being a leader when it comes to the provision of merchant account solutions. So, its no surprise that banks often deny them merchant accounts. Withdrew $900 from my account and told me that it was a $400 termination fee and $500 for the keypad. Although their websites navigability can be clunky, PaymentClouds history of few public complaints and excellent track record for customer support suggest that overall, it is a helpful and easy-to-work-with payment processor. eMerchantBroker lacks options for agencies to integrate payment platforms with processing hardware and payment gateways, which limits the speed at which a debt collector can collect the past-due payments its tracking down. Swipe credit cards securely by implementing PCI compliant payment solutions. Payment gateways offer an additional level of protection compared to virtual terminals by encrypting payment information before transmitting it to an acquiring bank. I would recommend not to do business with this company. Now they have charged me with a PCA compliance processing fee of $149, payable annually. Then I began getting charged a PCI non compliant fee $40.00. The collector has to tell you four pieces of information. Why would we want a service we couldnt use? I signed up with them and then realized my mistake as I was hit with overcharges on fees as soon as i charged my very first customer. Debt collectors that typically process credit card payments rather than alternative transactions such as ACH payments should nevertheless choose a payment processor that supports options for electric check processing and fraud detection. The debt collector refers to themselves as an investigator, or that they will contact the investigator on your case. Seeking to take them to court for their theft. My request to talk to a supervisor and to review the contract I had supposely sign went unanswered. In light of the companys complaint total and resolution ratio, we have adjusted the BBBs rating to a C for the purposes of this review. These customer chargebacks can make acquiring banks wary of approving merchant account applications from debt collectors. At Monetaria, we understand that your MCA agreements are time-sensitive. If your company is in the business of collecting debts, then you will need to have some way to process payments. Within a month or two they charged me a yearly acct fee of $80.00 and then out of the blue raised the monthly rate to $20.00. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. Merchant Processing Advisors can find multiple merchant account providers and can offer virtual terminals and payment gateways that allow their clients to process payments in a secure manner. service to inform clients in a respectful and professional manner of the status of their account before it becomes bad debt. They really do not want to do this. The company is headquartered at 22801 Ventura Boulevard Suite 300, Woodland Hills, California 91364. Phillip created this website and has written over 1,000 articles regarding all things payments. I was to have 1 account with Merchant Solutions ! Soar offers an automated application process online that takes minutes to complete and provides merchants with a quote after the fact. This means that you will be out of business. Debt Collection | Federal Trade Commission Were dedicated to B2B debt recovery. The Merchant Solutions then hit me with a new $99 a year for a so-called PCI Compliance Program charge, a $35. please dont sign up and let people know about that. EMB serves both traditional and high risk businesses, and has already helped thousands of hard-to-approve merchants to get the best for their business. Debt Collection Agencies & Lawyers in New York If you received a court Summons and Complaint, or have been threatened with lawsuit for a consumer credit card account in the states of New York and New Jersey by one of the collection agencies below, or by one of their debt collection lawyers, contact us to learn your rights. . They changed my contract, billed me a ton more without giving me an opportunity to opt out. I got the notification in the mail 2 FULL DAYS AFTER they had billed me. So only use this business if you like being lied to and stole from cause thats what their good at. The collections industry demands compliance with federal and state-level regulations, and payment processors should be able to facilitate easy compliance for debt collectors. A collection agency merchant account is classified as high risk for a number of reasons. Login - vt.merchante-solutions.com Annual PCI Fee $99.00 I was never given a written contract had computer generated signature. Instead, Go with Square, go with Chase, go with Costco Elavon, go with Paypal, or any of a dozen other reputable credit card processing companies but please, dont make the same mistake i did Avoid The Merchant Solutions at all costs. Also when you call they have no customer service and are rude on the phone. Merchant Solutions retail credit card processing solutions allow merchants to offer flexible methods of payments at the point-of-sale, including major credit cards, debit cards and checks. Beware, do not do business with merchant solutions. Working with a debt settlement company may lead to a creditor filing a debt collection lawsuit against you. High-risk specialist Durango Merchant Services ability to place accounts for merchants with histories of excessive chargebacks is invaluable to new collection agencies. High-risk specialist with anti-fraud and anti-chargeback protections. No doubt necessary to achieve any success, as the sales person was barely literate. The merchant service provider should also be transparent about the requirements of working with your business and the circumstances under which they would terminate the contract. The Fair Debt Collection Practices Act expressly prohibits debt collector conduct meant to "harass, oppress or abuse" you to collect on a debt regardless of whether you owe the debt or. eMerchant Authority operates an in-house underwriting team. eMerchant Authority specializes in merchant accounts for high-risk businesses; this includes debt collection agencies. Of course, we will provide you with all of the tools that you need to process payments. The majority of Americans use loans, credit cards, lines of credit to pay for their lifestyles. Easier borrower qualifications that help you build business credit. Excellent provider for collection agencies with a strong eCommerce presence. Many may find PaymentClouds organization of products on its website to be less than navigable. If they cannot guarantee this, then you will likely not be offered a high-risk merchant account with that company. Which Business Bank Account is Right For You? Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. Needless to say, I immediately sent the keypad and tracking revealed they received it in 3 days. they hurt me by taking un authorized money out of my account They want me to pay almost $900.00 for equipment I dont use. Abdulali Mithani is the CEO and chairman of The Merchant Solutions, though LinkedIn also lists a Zahra Mithani as CEO and a Taufia Mithani as CEO and chairman. Whats more, the debt collection industry is regulated by federal authorities including the FDCPA and CFPB, and is subject to legal requirements that vary on a state-by-state basis. Their customer service is terrible, they are never reachable. The Merchant Solutions 2023: Reviews & Complaints - CardPaymentOptions.com Nasty contract . They will not return my phone calls now. Total $247.95. Weve resolved overdue accounts for clients without damaging customer relationships. MERCHANT SOLUTIONS GROUP OPENS DOORS Business owners need capital to grow and manage their companies. Call 1-888-288-2692. My company is a small business that processes $200000.00 a year with this processor,,I have the right to question a fee But KURT didnt think so.I have contacted MS on other occasions and received less than favorable customer service. eMerchantBroker can . PaymentClouds repertoire of POS solutions, card-present and card-not-present processing options, and focus on eCommerce makes it a great choice for both new and slightly more established debt collectors. When banks determine a businesss risk status, they consider that businesss complete history of chargebacks. Would recommend , Merchan Solution they are very professional , Ive been talking to Austin back and forth seems like I know him, anyway every question I did not understand about this machine he explain it very clearly to me, He was not Just a sales person he wants my business to succeed Thank you very much .Austin Smith, Merchant solutions are very professional. No mention of 3 year contract and no proof of it. dont believe what they tell you How to tell the difference between a legitimate debt collector and I have never had any other merchant?! eMerchant Authority can help with this. Some merchant account providers may offer high fees. There are zero termination penalties or contract fees for agencies using Host Merchant Services, and disclosures of processing rates and account fees online provide a welcome amount of pricing transparency. Help us to improve by providing some feedback on your experience today. We can also provide the tools that you need to generate financial reports for any money passing through your merchant account. To know the right provider, here are factors to consider when looking for a debt collection agency for your debt collection business. This Post Might Help: Best Restaurant Merchant Accounts. For me customer support is key and Austin is definitely an asset to this company. Consider the following points to more easily smooth over your application process for a collection agency merchant account: Business owners starting new collection agencies or even expanding existing ones need merchant account providers that minimize the stresses that come with the debt collection industry, not exacerbate them. Phillip Parker is an independent digital payment consultant specializing U.S. and Canadian point-of-sale, ecommerce, and mobile payment acceptance. Credit Card Processing for Debt Collection Businesses Their payment processing services also include address verification services, cardholder verification value, POS systems, card terminals, EBT, Fleet Card acceptance, gift cards, and e-commerce solutions. Additionally, merchants who sign up with TMS report finding themselves also committed to long-term equipment leases with early termination fees ranging from $350-$400. When we both know its theirs! But unlike other financial transactions, you don't have time to spend phoning and e-mailing. The Merchant Solutions commits serious unethical and possibly illegal business practices, and you can see their legacy of fraud at RipOff Report.com or the BBB for Woodland Hills California, or on Yelp.com. Our proven Merchant Cash Advance (MCA) default recovery solutions are proven to turn your delinquent accounts back into cash. Calls from United Merchant Asset Recovery? - Consumer Law Firm Center The following vendors dont currently make the cut for our list of best merchant account providers due to drawbacks like fees and rates, contractual obligations, and relative lack of products and services provided. That said, Host Merchant Services exclusively interchange-plus pricing plans may be cost-prohibitive for low-ticket and very new agencies. These people are the biggest crooks Ive ever encountered. Either the sales agent or someone at Merchant Solutions copied my contract changed the account numbers and other information to open a second account that involved a terminal. The companys chargeback and fraud prevention assistance is a huge help to high-risk collection agencies and can go a long way toward making your customers more satisfied with your customer support systems and less likely to initiate chargebacks. Although users may request an interchange-plus pricing plan, PayKings non-transparent pricing and early termination fees can actually work against up-and-coming collection agencies that may not have a consistent stream of revenue. Best Merchant Accounts for Debt Collection Agencies I foolishly fell for the lies that were fed to me by one of The Merchant Solutions(TMS)sales representative. If you would like to interview Phillip for your story or podcast, please reach out here. Disgusted. This means that you can always stay on top of any transactions that you are making. Click here to earn a reward. Do not believe anything they say about their service. Best Collection Agency Merchant Accounts For 2023 - Merchant Maverick The drawbacks that render PayKings a less-than-perfect merchant account provider are similar to the drawbacks that come with eMerchantBroker. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. 4 Best Merchant Accounts For Collection Agencies Collection agencies require a merchant account provider that supports over-the-phone as well as online payment processing and facilitates timely consumer payments to prevent interruptions to revenue streams. Their charges are exhorbitant. Provider of affordable payment processing hardware that can streamline various debt collection operations. When I explained to the representative that my business is not making any money she did not care, but wanted to know where to send the cancellation to withdraw the fee. Besides, we understand just how financially difficult it is to become a business owner. Find Loan Options For Your Small Business. We work to advance government policies that protect consumers and promote competition. Debt collection businesses should partner with a merchant A business that accepts credit cards for goods or services. Dont give them, or their mother company, First Data, your business!!! Numerous calls went straight to voicemail without any return calls. High-risk specialist for U.S.-based collection agencies. Whatever type of debt collection your business operates in, we are confident that we can find a high-risk merchant account for you. These are charged beyond any percent fees. Looking for legal documents or records? I didnt fill out anything to open OR close the account and today was hit with $495 fee. Biggest rip-off company, holding my $ 2500 in the name of government, one employee working all the time and dont know ownership of this company , dont sign any account with this company, This post will help: How to Make Your Payment Processor Release Your Money. Do you feel like its the right time to start a collection agency? Keep up the excellent work Austin and thank for helping us through out the entire setup process. If you can get one who has worked with businesses in the debt collection industry, the better. Weve been hit with so many fees that are hidden and that they deduct for no unknown reason as they do not tell you before hand. All in all, the payment processors high-risk contract terms are reasonable even for lower-volume debt collectors. Square is a top choice for POS for any type of business. when you cancel.Please take your business elsewhere. Our experienced attorneys can help you come up with a strategy to deal with your debt while keeping your business running. We occasionally send out emails with special offers. Recently contacted The Merchant Solutions about a fee they charged me on my merchant account. We appreciate it. We ordered their smartphone credit card processor and found that their application was incompatible with our phone we couldnt use it so decided to return product and cancel service. They are thieves because they stole money from my account and wont make it right with me. When he isn't writing about IT solutions and innovations that help his clients, he's probably sitting behind a drumkit or adding new hardware to his computer. The merchant solutions is the most horrible company I have ever dealt with. eMerchantBroker is a registered ISO/MSP of BMO Harris Bank, NA, Schaumburg, Illinois. A collection agency merchant account is essential to process payments in this unique industry. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Monthly Fee $25.00 The reason why most high-risk merchant account providers are so strict during their application process is because of the nature of the debt collection business. From The Editor I was very skeptical and was sure that the contract did not disclose a 3yr aggreement or termination fee. Respectable processors like EMB guarantee a fast, secure application process. If so, you may be a victim of United Merchant Asset Recovery debt collection harassment. My contract ends in January 2015 and I am looking forward to it. You should double-check with the service provider/financial institution directly as well as obtain independent financial advice prior to making any financial commitments or business decisions. Lots of hidden fees that other companies dont charge! DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! Since 2017, Noah has worked for federal, state, and commercial clients as a proposal writer, technical writer, copywriter, and analyst. services due to the high risk associated with debt collection businesses. This company hires predatory sales people, arent up front about fees and raped my bank account. Merchants are advised to thoroughly review their merchant agreements with The Merchant Solutions and to renegotiate their contracts if hidden fees are suspected. This means that the process is fast. We're Proud to Advance Cash to Business Owners Like You. Consider whether your agency is a relatively low- or high-volume operation, whether you function as an eCommerce or brick-and-mortar business, your chargeback history, and the pricing plans you prefer before you decide on a collection agency merchant account. DO NOT EVEN talk to their salespeople. Run, dont Walk, from the Hustler Con Artists at The Merchant Solutions. THIS WAS A TOTAL LIE. 4 Best Merchant Accounts For Collection Agencies. Credit cards are, relative to ACH/EFT payments, more prone to chargebacks. Noah is a writer and content creator currently living in Fairfax, VA. Not much, but still more than disclosed. I, like everyone else on this thread, was charged outrageous fees and then told that I cannot m leave my contract after it ended because it auto renews. In the United States, all debt collection companies will need to conform to the Fair Debt Collection Practices Act (FDCPA). Clover is the company's proven solution that makes it easy for small businesses to accept payments and run their day-to-day operations, from reporting and inventory to invoicing and e-commerce. Due to the unique processes that eMerchant Authority has in place, the risk of a chargeback is low. If you think the bill is not yours, you could call the Attorney General in Tennessee at 615-741-3491. The Merchant Solutions rates as an average merchant services provider across the board according to our rating system. I will report this matter to BBB about their sales / marketing strategy for omitting such cancellation fee info. A full point-of-sale (POS) system in one sleek package. As of right now, I have this company for falsifying documents, and felony forgery. These companies and people are banned, by federal court orders, from participating in the business of debt collection. With out so much as a single warning they withdrew ridiculously large amounts money from my amount, and were angered when I asked why. As a debt collecting agency, opening a debt collection merchant account is the best thing you can do to improve your business cash flow and offer more payment options to your customers.. How Can Merchants Use Debt Collectors to Recover Chargebacks? eMerchantBroker.com. We spoke with ANAIS today and were helped with understanding the rates. As you're checking out a debt collection call, remember: don't respond to threats. You want a merchant account provider who has the experience and more so one with experience working with high-risk industries like yours. A collector has to give you "validation information" about the debt, either during the collector's first phone call with you or in writing within five days after first contacting you. There are a bit more than 9.000 businesses in the industry that employ over 150.000 people. The sole purpose of the material presented herein is to alert, educate, and inform readers. For new business owners who place a particular focus on hands-on customer service, PaymentCloud offers dedicated account representatives available to you throughout the lifetime of your account. Here are other additional benefits that you receive when you apply for an internet merchant account with eMerchant Authority. Whether you are looking for a Full Services Provider, Second Look Vendor, or collection consultant, Sequoia's services are tailored to meet your needs. Just ridiculous! Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. Its likely that Instabill offers terminals through a lease, which is nearly always more expensive than purchasing a terminal of your own in the long run. one year. Opinions expressed here are authors alone. PayKings comes with exclusively tiered pricing plans and only applies lower processing rates to certain qualifying transactions. The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. I have tried to use card reader several times without success. Essentially, they steal from the customer. In addition to its support for merchants who may be on the TMF or MATCH List, Durango also works to prevent chargebacks in the future with multiple reputable anti-fraud services. I left MerchantSolutions a number of months ago, even though it cost me remaining monthly fees until my contract expires. Worse company ever. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. The rule clarifies how debt collectors can communicate with you, including what information they're required to provide you. Requirements: 600+ credit score, 12+ months in business and $100,000+ revenue. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. This was not in our contract, but I couldnt get the money back without suing them. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); BE AWARE!! Merchant account providers know that there will always be a bit of a risk dealing with debt collection agencies. Just yesterday, The Merchant Solutions sent me a new bill for $114 just for February account administration fees alone, even though I returned their machine in mid January and directed them to close my account immediately in January. the rep I spoke to became Irrate and told me he didnt appreciate me accusing him of charging bogus fees and he told me he was going to hang up on me. You will not have enough time to do it, the machine terminal breaks all the time. Merchants can get more competitive contract pricing by instead going with a cheap merchant account provider. They Are Not truthful about their service. A handful of debt collectors employ scare tactics such as calling debtors around the clock or harassing them in person for collections. Seattle Collection Agency | Merchants Credit Association It only makes sense then that the best collection agency merchant account providers offer processing options for multiple payment types and a reliable system to fight chargebacks and fraud. Let us know how well the content on this page solved your problem today. I set up a payment arrangement . STAY AWAY. The collections industry is a particularly high-risk one, and some high-risk merchant account providers still dont suit the needs of new and growing debt collection businesses. Milford, DE 19963. Horrible company. Start by leaving a comment at the end of this review, Compare Top Rated Processors: Compare Rates, Reveal your hidden fees: Audit Your Statement, Working in merchant services: Our Free Guide. They said they had cancelled the account, but the following month we were charged again. However, pricing is not disclosed on either of those services. Several complainants outright accuse the company of being a ripoff or a scam operation. Square is a top choice for POS for any type of business. Instabills main draw is its services to high-risk international merchants that process offshore payments, although its support for brick-and-mortar agencies that need on-site payment processing leaves something to be desired.