- Report: #794741
Report - Rebuttal - Arbitrate
Complaint Review: EPS 90
EPS 90Englewood CO Internet United States of America
EPS 90 Electronic Payment systems Agents Beware of this Scam, Internet
*Consumer Comment: EPS is Great Company - highly recommend
*Consumer Comment: Correction to EPS Nonsense Posting
*Consumer Comment: EPS Nonsense About Leasing
*Author of original report: You Havent Convinced Me or the Readers of the Post Anything.
*UPDATE Employee: Trying to Help You Understand But Still Have It Wrong
*Author of original report: Thanks for Clarifying
*UPDATE Employee: Incorrect & False Information - Gross Misunderstanding of the Facts
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First off the company only guarantees 10% of the accepted checks. The merchant is responsible for the 90% of the total of all post dated checks accepted. Second the Company charges a 7.5 % Fee so, its obligation is only 2.5% of check total.
EXAMPLE If a consumer buys $5000.00, on this program, EPS guarantees $500.00 of that money and charges $375.00 in up front fees and a few more miscellaneous charges. If the checks bounce they will pay you only $500.00 and your stuck with the other $4500.00 in bad checks. Thanks again! Sounds like a great business to earn 7.5% and only risk 2.5 %
Also, they really only want your $99.00 for 48 month money and your credit card processing in total. You are required to commit to the 4 year lease with them and switch to use their processing, its that simple. You pay $4,800.00 for a machine that cost $500.00 - $700.00 on the Internet.
Don't get fooled by this BS. If you want to extend 90 days to your customers do it without this company. They are not giving you anything for your money. You could get stuck with the checks and problem. Your liability and fees are much too high to consider using their system. If the company rebuts this, please address the facts listed above, not the usual patented non-sense.
This report was posted on Ripoff Report on 11/03/2011 10:15 AM and is a permanent record located here: http://www.ripoffreport.com/r/EPS-90/internet/EPS-90-Electronic-Payment-systems-Agents-Beware-of-this-Scam-Internet-794741. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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