- Sales Experience
Merchant One has been in business for over ten years and is headquartered in Miami Beach, Florida. They are a registered ISO/MSP of Wells Fargo and First National Bank of Omaha. They specialize in retail processing solutions as well as e-commerce, mail order/telephone order, and mobile/wireless solutions.
Merchant One is accredited with the Better Business Bureau and has an A+ rating with them. Over the past three years, they have had 173 complaints filed against them, with 35 closed within the past twelve months. 63 of the customers whom filed complaints felt that the response they received was unsatisfactory. The majority of the complaints filed cited advertising/sales issues as well as problems with product/service. It’s surprising that Merchant One does have an A+ rating, 63 unsatisfied responses is a very high number and it comes as no surprise they don’t let anyone read the complaints filed. Many other merchant service providers have a similar number of complaints, although 173 is still high, but 63 unsatisfied responses is unheard of. It’s also discouraging that most complaints have to do with advertising/sales issues because it implies that deceptive sales tactics are used.
Merchant One appears not to use an independent agent program, which would be great except for the number of complaints filed against them. There’s a few deceptive marketing strategies on their website. Their top two testimonials boast a review from Paul Mitchell and Harvard Business Services making it seem like they’ve earned the trust of these prestigious firms. The problem is the Paul Mitchell testimonial is just a small franchise, not the parent company, and Harvard Business Services has no affiliation whatsoever with Harvard University. One of the good services they offer however is 24/7 customer support. Surprisingly, not a lot of merchant service providers offer 24/7 support meaning potentially lost sales for any business with off hours. They also offer next day funding, but that’s a dangerous claim to make. If a business said their average ticket was $100 then they processed a $15,000 transaction those funds would be held by any risk department, so “next day funding” isn’t entirely accurate.
Merchant One advertises rates as low as 0.39%. It’s important to understand that this rate would only be for debit cards from a regulated bank and if it’s a swiped account there would be a surcharge for keying the debit card into a terminal. They do not advertise any other rates on their website so it’s advised to call in order to get the full schedule of rates and fees. It’s also advised to read the entire contract before signing as there’s a lot of customers who state their sales representative said there’s no cancelation fee but there actually was one buried in the fine print.