I am a former independent contractor (agent) of BPS Worldwide which owned by Robert Malmud and Gary Shull. This company "sells" or contracts merchants with credit card processing services for several processors. I had to separate myself from these guys because I could no longer participate in the calculated and deceptive business practices that are a part of everyday business with BPS Worldwide.
Some of the specific things that they do is to Charge fees and make rate changes that the merchants have not agreed to, and with no notice. IF a merchant calls to complain, they will usually return the money, but they joke about the fact even if half of the merchants ask for a refund, they have still made a lot of extra money!!
Contrary to California law, BPS Worldwide is NOT registered to to business in California. Their primary agent in California is JAMES PETERSON.
If you now have JAMES PETERSON DBA California Merchant Services as your representative for merchant processing, you are at a very high risk of being taken advantage of. He has been arrested and convicted of FRAUD and been sent to prison. He took advantage of Merchants, took their money, and eventually got caught. However, Mr. Peterson is still out there, still taking advantage of unsuspecting business owners.
Robert Malmud, and Gary Shull have embraced Mr. Peterson, and his criminal background, and feel that it is a perfect relationship for their way of doing business.
As for my involvement, I called out BPS Worldwide several times over the last year or so, and finally in July of 2010 I gave them a notice of my intention to NOT renew my contract which was set to expire on November 1, 2010.
On October 25, 2010 I received a letter informing me that THEY were terminating my contract, and were not going to continue to pay me my residual income which they owed me (per our contract) for the next 3 years. They waiting until 5 days before the end of my contract, and have done the same thing to many other agents.
I suggest you also search this site under the names of California Merchant Services, or Tribul Merchant Services before you do business with any of the above listed people or companies.