I was cold-contacted by a Payment Systems Corp representative. The deal sounded good: $.09 per transaction, $126 equipment lease & 0% per sale. They actually charged me $.90 PER TRANSACTION, $126 ($141 with fees), 0% per sale & $25 monthly processing fee. When I brought the discrepancy to their attention, they made me jump though hoops to prove it, when it was printed right on their statement. I had to submit bank records.
Payment Systems stated that it was a clerical error. I asked if they had a plan that charged $.90 per transaction. They stated no. I then ask how such and error could go unnoticed for over 3 months and with hundreds of transactions? I told them that I thought I was fraudulently overcharged and that I would not be using their service any long and I would be mailing their equipment back.
Payment Systems wouldn't have it. I had to argue with them to get an address that I could mail back their equipment. But that was nothing compared with the "leasing company", Lease Finance Group in my case. It's the strong-arm side that would wage a relentless harassment campaign to collect. The leasing company said they never received the equipment (I got the address from Payment Systems). I mailed it to Payment Systems. More jumping though hoops to confirm that they had the equipment.
My rep told me it would cost $200 to break the contract. Lease Finance Group wanted over $6,000 for a piece of equipment that you can buy for $300 - $400. I contacted my rep who said he left after 6 weeks (I was his first customer). He said it was common that he would quote a customer one rate and the contract would state a higher rate. He also stated that the company took a fee of over a $1,000 off HIS commission to pay for the customer's equipment, remember, this a $300 - $400 piece of equipment.
So when Payment Systems Corp comes a knockin - RUN!