ED Magedson – Founder
Wholesale Merchant ProcessingNationwide USA
Wholesale Merchant Processing Scam, misrepresentation, untruthful, hides facts, acts like they are our current processor Beaverton Oregon
I got a call from WMP yesterday to arrange a meeting about my PCI Compliance. This person acted like they were my current processor (they used to be years ago), even though I am with another company. He said I needed to sign a PCI Compliance form so I stop getting charged those fees. He made no mention of any sales call or the like. All I had to do was sign the Compliance form and that was it.
This person from WMP told me that my credit card machine was no good and obsolete and that I need to buy a new one from them with a pin pad because "It would save my company money".
The representative from WMP showed up at my office today and talked to me as if HE was my credit card processor and told me that my credit card machine was obsolete and does not work. HE DID NOT EVEN SEE MY CC MACHINE NOR KNEW WHAT MODEL IT WAS. (It's current)
Then he produced a contract with many scratched out portions and insisted that I sign it NOW. Not in a minute, NOW! He never explained any of it and kept saying "We are trying to save you money!". Then I read the contract and saw that WMP LIED TO ME. It was not a PCI Compliance form. They were trying to steal me from my current provider without explaining ANYTHING to me. He told me that he was my provider and was trying to save me money.
In the "Equipment Charges" field, I noticed that they were going to charge me $129.95 FOR 60 MONTHS FOR A CREDIT CARD TERMINAL. THAT IS OVER $6000 FOR A DEVICE I FOUND ONLINE FOR $250. When I questioned him about this "robbery" he called his "brother" and questioned him. I asked him if he really thought I would buy a Credit Card Terminal for over $6000 and he replied that they take care of my processing, programming, and other things that this fee covers.
THAT IS WHAT MY PROCESSING FEES ARE FOR. IN MY OPINION, THEY ARE TRYING TO ROB YOU.
After I told him that I could buy the SAME terminal online for $250 or less, he said that I wouldn't be able to use it because I would buy the wrong one. I OWN A TECHNOLOGY SHOP. I SELL TERMINALS TO CLIENTS. WMP LIED TO ME.
After they figured out that I was on to their little scheme, the rep quickly left my store after talking to his "Brother" on the phone.
DO NOT SIGN ANYTHING WITH WHOLESALE MERCHANT PROCESSING UNLESS YOU READ THE ENTIRE CONTRACT. THEY JUST TRIED TO SCAM ME.
This report was posted on Ripoff Report on 07/29/2014 12:09 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wholesale-merchant-processing/nationwide/wholesale-merchant-processing-scam-misrepresentation-untruthful-hides-facts-acts-like-1165853. 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.
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