- Sales Experience
Mercury Payment Systems was founded in 2001 and is based out of Durango, Colorado. They have a strong focus in Point of Sale (POS) systems but also offer other processing methods such as regular credit card terminals and mobile/tablet solutions. They additionally offer a loyalty program for businesses and their consumers, as well as gift cards, and coupons. They are a registered ISO/MSP of HSBC Bank and a registered agent of Wells Fargo.
Mercury Payment Systems is not accredited with the Better Business Bureau but has an A- rating with them. Over the past three years, they have had 33 complaints filed against them, with 15 closed within the past twelve months. 18 of the customers whom filed complaints felt that the response they received was unsatisfactory, seven of those type of complaints were filed this year. The majority of the complaints filed cited billing/ collection issues as well as problems with product/service. Unlike most processing firms, Mercury Payment does allow for anyone to read the complaints filed against them. Most of the complaints are pretty common, examples are PCI fees, cancellation fees, and cards falling into non-qualified categories.
As mentioned above, Mercury Payment Solutions has a strong focus in the Point of Sale field. If fact, there’s no evidence on their website that they even deal in e- commerce, but they do and use authorize.net integration. Their major marketing campaign right now is their loyalty program, where small business owners can keep track of their customers buying history and offer special incentives tailored to what they usually purchase all done automatically. Like most merchant service providers, Mercury Payment has both an inside sales team and also relies on independent agents to attract new business. Their mobile payment solutions is the popular iDynamo card reader but it unfortunately only works on the iPhone and iPad, leaving Android or Blackberry owners behind. They also offer some financial aid for the POS systems since they’re notoriously expensive. While they do not give any further detail on how the program works, outside reports have indicated it’s a lease program.
Mercury Payment Solutions does not advertise their rates or quote them in the live chat option on their website. Any business looking for a rate has to call their 800 number. However, it has been reported that they do charge a cancellation fee of $295 along with a three year contract. They also have an overpriced $150 annual PCI compliance fee, and an unnecessary “regulatory product” fee which was designed for merchant service providers to make up for lost profits due to the recent Durbin Amendment.
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