merchant solutions group debt collection

Heres a quick list ofsome of the most common debt collection agency types: The different types of collection agencies all require a payment processor that can provide support for payments made over the phone as well as online. I have been in contact with them for months now, and they still cannot give me a justifiable answer. I paid $99 for $1000 and for another $1000 i paid $119 it means more than 10% In some cases, this leads to merchants contracting with debt collection agencies. 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. DONT BELIEVE IN ANYTHING THEY SAY ALL LIES AND FRAUD!!! If anyone has a better option please let me know. Instead, it appears merchants must contact the company directly to learn more about the exact terms of this promotion. 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. Thousand Oaks, CA 91362. one year. BBB received a pattern of complaints concerning collections practices. This is Uncle Fried Chicken LLC, and The Merchant Solutions are scammers and dont follow their own contract rules. Under federal law, a debt collector must send you a written validation notice within five days after they first contact you. Maintaining these ratios is challenging for merchants in many industries. We are on our 4th machines, the terminals are very light, and very cheap looking, they break all the time, but when you try to get out of the contract because of it, they will say something like, but we can trouble shoot for you. If you are a small business owner avoid these crooks like the plague. Milford, DE 19963. Avoid this outfit as they will make your life miserable. Due to the risky nature of your business the typical bank wont deal with you. 2985 E. Hillcrest Drive By keeping the risk of chargebacks and fraud to the absolute minimum, your business can benefit. This does not compare favorably to our list of best credit card processors. After I cancelled my account with them, they debited my account $50.00 to refurbish the terminal they provided free of charge. Every review above has happened to me too exactly like the above. That doesnt count the canclelation fee that coming up from them. Neither of these 2 complaints was resolved by the company to the satisfaction of the merchant. He has nearly two decades of experience in card payment services, both as a former merchant services sales representative and as a professional journalist covering the payments industry. Over the years, we have built up connections with banks all over the world. These are all fees that were started 8 months into my contract. They, by their own admission, billed me for numerous new and unauthorized charges that were not in my contract, and then sent me an opt out form 2 FULL DAYS AFTER the charges cleared, and refused to refund my account or cancel my service in light of their unscrupulous activity. While the process for applying for a merchant account with us is not instant, we have been doing this a long time. This company needs to be put out of business. If your business has been turned away and you need to process credit card payments, you can turn to a reputable merchant account provider like emerchantbroker.com. Dont believe anything their salesman tells you on the phone as they will lie to you endlessly and then screw you later. If you are in the debt collection business, then you may find it very difficult to obtain a merchant account. They even familiarize you with techniques and systems that keep customers satisfied and less likely to initiate chargebacks. Kim, this just happened to me and I wanted to see if you had any outcome in your situation. . 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. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. The .gov means its official. YOU WILL BE SORRY! They have hired unqualified reps who dont know how to initiate talks with a new business, seems like working for paycheck only, doesnt seem they take ownership in helping future customers. 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. When I set up an account they told me there would be no contract if I used the mobile software and no fees just the $9.00 per month maintenance fee. If you want to pay unregulated fees like a $9.99 a month regulatory fee and a $6.95 monthly data insurance fee and a $150.oo yearly anuall PCI FEE this is the processor for you.. However, you need to hire a merchant debt collector account provider who offers merchant collection solutions that meet your company's needs.. To know the right provider, here are factors to consider when . The sole purpose of the material presented herein is to alert, educate, and inform readers. Very rude on phone, does not care about you as a customer. Weve resolved overdue accounts for clients without damaging customer relationships. A collection agency merchant account is essential to process payments in this unique industry. In addition to its storefront payment processing services, The Merchant Solutions also dedicates a portion of its website to advertising its virtual terminalandpayment gateway services. 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. VERY RUDE AND UNPROFESSIONAL.THEY ARE TRYING TO BLIND SIDE THEIR CUSTOMERS AND ROB THEM OF THEIR MONEY. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. 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. 844-66-CFGMS (844-662-3467) How Can Merchants Use Debt Collectors to Recover Chargebacks? Its important to be able to connect with a real person on the phone. Stephanie T. Nguyen, Chief Technology Officer, Include spaces in matter number if applicable. Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. 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. Better look for alternatives. A powerful, two-screen point of sale (POS) system that allows merchants to run their business . However, these channels appear to fall short of the support levels offered by top-rated payment processors for customer service. Were dedicated to B2B debt recovery. Min. Swipe credit cards securely by implementing PCI compliant payment solutions. Lets start with the salesman Daniel A. They bill me $100.00 more for the first month & when I complained they told me they going to have a rate review and correct it, the second months they did the same, one week in the third months I stop using them for processing and then they threatening me with a $495.00 early termination fee that I cross in the application then I find out that Daniel A. forged my initial and change the page. Worse company ever. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. The Merchant Solutions processes most major payment types. The Merchant Solutions provides credit card, debit card, EBT, gift card, ATM, and check acceptance. The chargeback will be made against their account. Amazing! The Best Merchant Accounts For Collection Agencies & Debt Collectors. Location & Ownership Since these banks know and trust the quality of our services, they will be able to trust you too. Moreover, EMB is rate A by Card Payment Options. 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. Banks consider collection agencies as high-risk for several reasons, the first of which being the sometimes-negative public perception of the debt collection industry. This was not in our contract, but I couldnt get the money back without suing them. From The Editor The Merchant Solutions fees and terms are average for the industry, so we have given TMS a C in this section. Seeking to take them to court for their theft. And because I signed the document, the company is telling me, that I am liable for the contract. if anyone do business with this scums be prepared to have a high blood pressure. Excellent provider for collection agencies with a strong eCommerce presence. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. It took me 2 weeks of calling NON-STOP to get any response. Annual Fee $79.00 Zero star rating, they are big time scam This company is nothing but a fraud. As is the case with other industries that fall into the high-risk category, collection agencies operate in an unstable regulatory climate and unfortunately experience a higher risk of unreliable streams of income. 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. SAVE YOURSELF THE HEADACHE! Ensure you understand the contract terms and all the costs involved with the credit card payments before you sign the contract. Click here for more product information. And because customer satisfaction is what we aim for, we offer ongoing support to all our customers. They will rip u off and their owner Taufiq trains his employees to lie, steal, cheat and deceive their customers who are trying to run an honest businesd. Horrible company. They constantly slip in unauthorized charges. Im so glad I read these before making a huge mistake. As of right now, I have this company for falsifying documents, and felony forgery. We also encourage merchants to check out our list of the providers of the best merchant accounts. The overall household debt for an average family increased by 11% . : 182 3125, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023. 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. New York, NY 10038. They Are Not truthful about their service. eMerchant Authority can help with this. Debt Collection Agency Merchant Services, Collection Agency Credit Card Processing Collection Agency Merchant Account Solutions At Premier One Payments, we are the rare merchant account services provider that is ready and willing to work with collection agencies. If you can get one who has worked with businesses in the debt collection industry, the better. Durango combats consumer-related fraud with anti-fraud protections such as Verified by Visa, Mastercard SecureCode, Fraud Scrubbing, and EMV 3d Secure 2.0. They have been lying to me since day 1 of signing up with them. Most merchant providers are reluctant to offer. When their machine failed, they blamed me even though the manufacturer of the machine explicitly explained to me that TMS was to blame for connection security error. See this page to learn how we support our operations. CFPB accused Encore Capital Group and Portfolio Recovery Associates Inc. of misleading and harassing consumers, which led . 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. When an account like a credit card, auto loan, or cell phone bill becomes past due, the original creditor may attempt to collect the amount owed. There is no monthly fee but there is a monthly minimum fee meaning if you dont process the requirement you are charged that fee. Debt collectors that are trained properly cannot act in a false or misleading manner in an effort to get you to pay. From The Editor This is why when you partner with us you also enjoy transparent pricing with no long-term contracts or hidden fees. And, likeseveral other merchants weve covered in this article, Soar doesnt publically disclose its pricing plans on its website. She said that I would need to submit an application in order to verify the discounts they were offering. Get the truth here. Just ridiculous! Dont sign up or you will regret it at the end. Have tried reaching them, asking for copy of contract which states there is a restocking fee and additional charges, but have yet to receive it (its been 6 weeks) or no response as to additional charges (messages left and emails sent). Opinions expressed here are authors alone. Host Merchant Services caters well to collection agencies with various business models due to its specialized accounts with customized pricing for large- and small-ticket agencies as well as nonprofits.

15x14 Aluminum Slot Wheels, Articles M

merchant solutions group debt collection