• Report: #779215

Complaint Review: Momentum Payment Systems

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Tue, September 20, 2011
  • Updated: Tue, September 20, 2011

  • Reported By: Big Easy Group — Kenner Louisiana United States of America
Momentum Payment Systems
3801 Arapaho Road, Addison, Texas 75001 Internet United States of America

Momentum Payment Systems Withholding Funds Internet

*UPDATE Employee: OUR CUSTOMER SERVICE COMMITMENT

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

We switched to this company after they contacted us and advised that they were significantly less expensive than the company we were using.  We decided to switch to their services.  Shortly after we signed up with them, we had a couple come in and put some furniture in layaway.  For the next several weeks, they would come in and pay on their layaway with the credit card.  Unfortunately, the couple broke up, and the girlfriend called the credit card company and stated the charges were fradulent.  Momentum requested all documentation which we gladly provided proving the card was swiped.  The total amount was $600.00.  Since we were a new customer, they froze our account and have held $8,300.00 since May for $600.00 in charges!  No other chargebacks have been reported.  80% of our business is credit card purchases.  We processed over $23,000 in credit card transactions and $600.00 in chargebacks is less than 3% of our total.  We are dumbfounded that this company would withhold such a large sum, particularly since their own customer base only has 60 days to dispute transactions. 

Each time we have called to see when the money will be released, we are told to call back the following month.  The last time we called, we were told that the funds would not be released until March of 2012, over nine months since the original transaction!  They advised us they have the right to hold the funds for 270 days per our contract.  We are a small business, and this has seriously affected our cash flow. 

If this company contacts you about switching services, run as fast as you can in the opposite direction, especially if you're a small business.  Once they have you, they have you and it may seriously harm your business as it has ours.  Worst decision we ever could have made.  Interestingly enough we returned to our previous credit card processing company who matched their prices. 

This report was posted on Ripoff Report on 09/20/2011 08:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/Momentum-Payment-Systems/internet/Momentum-Payment-Systems-Withholding-Funds-Internet-779215. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Momentum Payment Systems

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

OUR CUSTOMER SERVICE COMMITMENT

AUTHOR: Momentum payment systems - (U.S.A.)

Momentum Payment Systems takes pride in providing excellent customer service and an ethical sales approach.  We strive for complete customer satisfaction in our day-to-day interactions and in our overall customer relationships.  We provide services for tens of thousands of relationships every day and although we try, some of our customers are not completely satisfied with every decision.
 
We are committed, however, to working with our customers and all independent sales representatives to resolve any and all concerns. We cannot, however, address issues that are not brought to our attention. Anonymous blogs and comments on the internet are difficult to address due to the lack of information and the indirect communication style employed. Therefore, if you have any questions or concerns we ask you to please contact our Customer Resolution Team and allow us an opportunity to address your issues by calling us directly at 888-469-0312 or cs@momentumpayments.com.
 
Please help us improve our communication on all levels by calling us immediately if you have any concerns whatsoever. If you have already tried to address your concerns and did not get the result you had hoped for, please call us ONE more time. OUR COMMITMENT to you is to LISTEN to you and make every effort to favorably resolve your situation, whether you are a merchant or an independent sales representative. Your concerns are OUR concerns. 
   
Momentum Payment Systems
Executive Management Team
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory