I am a very busy small business owner. I allowed Joylyn Duffy from Payment Systems Corp to come in and look to see if they could save me money on my credit card processing. That was my first mistake.
In all their information and talking to me they delibrately did not compare apples to apples. She took advantage of my lack of knowledge of the credit card industry as well.
I asked how much it was to cancel my previous service and she "called" them. It was only $299 andshe would reimburse me for it. That was fine for the processor....
1. However, she delibrately did not tell me that I could not get out of my equipment lease. At the time, I was unaware that I was signed into an existing 48 month lease that I can not get out of. That is industry wide, by the way. By the time I realized that, it was too late to get out of the new 48 month lease on equipment she had me sign. So I am stuck with 2 sets of equipment with lease payments on both. Something she did figure into the calculations.
2. When comparing my savings, she compared her $59 a month lease to my current $37.50 a month lease. She delibrately did not compare the actual cost of $68.95 for her lease to my current actual cost of $37.50 for my lease. ($59 plus fees and taxes) AND the equipment she leased me is out dated.
3. In all the comparisons I was told Visa/MC fees were 1% plus a 9 cent transaction fee. She even did comparisons for my breakeven on debit cards using 1% plus a 9 cent transaction fee. After a couple months of statements that seemed to be double charging the 9 cents. I finally got a hold of someone and was informed that there was also a 9 cent authorization fee. So, in actuality she should of been comparing 1% plus a 9 cent transaction fee AND a 9 cent authorization fee. I was told I should of read the contract.
4. My 1% she promised was also not accurate. She was comparing my current 1.69% to her 1%. Problem is her 1% was a lie too. My 1.69% was after interchange fees and her 1% was before interchange fees. Again she lied in her comparisons. I effect my credit card fees are drastically higher.
5. Whenever I tried to call customer service I would always get the run around. Sometimes, they would take a message and promise to call back within an hour or 24 hours. Never happened! Never once got a call back from them.
6. I decided to go back to my 1st processor and just eat the 68.95 lease payment so that I do not have to deal with this dishonest company. I called and actually got to talk to someone, surprise, surprise. Only to be told that I would have to pay over $1500 to cancel my processing with them.
Needless to say, be very aware of this fraudulet company.