The worst experience, ever for our company. We were promised significant savings over our previous credit card processor, but it was all just a sham! They told us we needed a new credit card machine and that we would have to lease it. The terms of the lease had me a bit worried since they emphasize that it is non-cancellable. The savings worked out on paper, even after figuring in the lease payment, so we went ahead with First Data. The rates they actually charged us were significantly higher than they claimed. When I complained, they blamed me for not giving them enough information to accurately quote me my savings. When I tried to cancel the service on the grounds of their false claims, they would not budge, and told me I would have to pay the remaining lease payments in full (over $3,500) in order to get out of the lease, otherwise they would report us to the credit reporting agencies. I wrestled with it for a while, but decided to pay the extortion money rather than ruin my great credit. In my opinion, they know EXACTLY what they are doing. They lock you in, then do whatever they want, because you will have to pay them one way or another. They use the threat of bad credit to legally (in their opinion) steal your money. It seems a class action lawsuit is in order.
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