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Report: #1078744

Complaint Review: Payment Systems Matthew Wiltsey Keith Olmo Matt Patton - Los Angeles California

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  • Reported By: Kevin — Carlsbad California
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  • Payment Systems Matthew Wiltsey Keith Olmo Matt Patton 515 S. Flower Street Suite 1200 Los Angeles, California USA

Payment Systems Matthew Wiltsey Keith Olmo Matt Patton BEWARE OF PAYMENT SYSTEMS!!! I had to file a complaint with the Federal Trade Commission to report illegal behavior!!! Bad company run by Matthew Wiltsey, Keith Olmo, and Matt Patton! Please read this carefully! Los Angeles California

*UPDATE Employee ..inside information: Not true

*Consumer Suggestion: A deal is a deal

*UPDATE EX-employee responds: Matt Wiltsey Criminal, Wife Beater, Dead Beat Father

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I want all merchants to beware of the tactics used by Payment Systems. This is the only way I can clear my conscience of what I saw go on at the company.


I was an employee of Payment Systems over the last 3 years. I went from an inside sales rep to team lead, and lastly I worked as the executive sales assistant in the Carlsbad branch. I did very well in sales. I felt like my job was rather rewarding thinking I was helping the clients save money. It wasn't until my last position at the company that I realized otherwise.

Working in the back end of the company is when I found out that what they were promising the clients was false. I also have reason to believe that they are cutting and pasting the merchants signatures on places they had missed on the agreement just to process it faster so everyone would be paid sooner.


They tell the merchants they will be saving them a substantial amount of money by switching them from their current merchant processing company to payment Systems. They then sign an agreement which I have reason to believe a lot of times the sales agent tells them it's just an application, then they are stuck in a non-cancelable lease for 48/60 months for the equipment. They quote that they'll be paying rates as low as 1% credit and 0% debit when in actuality its much higher, there are tons of hidden fees, and with the lease payment being on average from  $59-$299 a month the merchants end up paying way more than they were before. They are lead to believe that if they decide to cancel the termination fee would be $299, but what they are not aware of is that they also have to pay is anywhere from $995-$1660 not to mention the non-cancelable monthly lease payment multiplied by the terms of the lease on top of it.

It's terrible and very disappointing. One of my tasks was working with chargebacks or "problem deals" which I personally spoke with many merchants who felt like Payment Systems  had been misrepresented, that they had been taken advantage of, and that they were dealing with fraud. I had merchants crying to me, telling me that because of this company their small business would go down, that they'd be so far in debt because of what Payment Systems is doing. It was compromising my morals and I had difficulty working. These small businesses are already struggling in this economy and are now suffering more because of Payment Systems when all they wanted to do was save some money. I believe they deserve justice.


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#3 UPDATE Employee ..inside information

Not true

AUTHOR: Current sales person - ()

POSTED: Tuesday, January 28, 2014

As an outside sales person I can tell you, deals are not really "personalized" to each businesses needs.  How it works is, we tell the customer we have two tiers.  the first tier is 1.39% on credit and 1% on debit.  The other is 1% on credit and 0% on debit.  The reality is, we only offer the 1% and 0%.  This tier, we are told to tell the customer is for our corporate customers, bit it's really what we give every customer.  After we do the merchant questionnaire, we call our manager who "take that information to underwriting", and calls back with the "personalize" plan for that business.  This is all smoke and mirrors.  What the manager does is look at what the customer currently pays in proceasing and takes the false tier pricing and figures out how much they can mark up the equipment.

In the end, we quote the customer a price that shows they will save money every month.  We then push to close the deal right then.  If a customer shows any resistance to making a decisionbright then, we call out manager who will aggressively pressure the customer into signing the contract.  If they agree to switch, we are trained to fill out the contract and highlight the spots the custermer needs to sign.  The reason is, they don't want the customer reading the contract beforenor during te signing process.

Once the contract is signed we immediately fax it to our manager so they can process it and get the equipment to the customer. I can tell you that the contract does have a lot of hiden fees, and the quotes we give never have have all the fees built in.  Even with all the fees, there are times where we can still save the customer money, but it's never the amount we show them on paper.

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#2 Consumer Suggestion

A deal is a deal

AUTHOR: David - ()

POSTED: Monday, December 23, 2013

Payment Systems is one of the top sellers of Merchant Services because they offer a great deal for tens of thousands of businesses. They come up with personalized deals that will save money based on what business owners tell them. If business owners lie, they can get a deal that's not the best for them. If you say you'll be in business a long time, and you're not, you save a lot on fees but end up with cancellation fees. Tell the Clippers you're going to a basketball game by buying a ticket, don't show up, you're out the money. I understand business owners going out of business are angry. But be honest with yourself if not everyone else about the deal you struck- save a ton on processing fees because you said you were a solid business that deserves the same processing services as McDonald's and 7-11.

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#1 UPDATE EX-employee responds

Matt Wiltsey Criminal, Wife Beater, Dead Beat Father

AUTHOR: Tracey - ()

POSTED: Wednesday, December 11, 2013

I worked for Matt Wiltsey for two years in Washington State, he is a major criminal. Multiple DUI’s; Driving Under the Influence, look it up, it is all public record.  The DUI arrests were for cocaine and alcohol.  He is a dead beat Father who owes thousands in unpaid child support and thousands in unpaid judgments from baby Mothers. Convictions for Criminal Trespass and the list goes on and on. Again, all public record.

Wiltsey has convictions for Insurance Fraud, Money Laundering and Tax evasion including beating his ex girlfriends and ex wife. 

Wiltsey and his company run one of the oldest scams in the Credit Card Industry.  They tell you they will give you a low rate, because of the special equipment they are providing, then force you to sign a lease for equipment that costs between $ 125 to $300 but your lease will run you into the $5,000 to $8,000 for the term of the lease.  In 3 months, Wiltsey raises your rates in 90 days.

Then you are stuck in a lease, and stuck with high rates on your processing.  When you try to cancel, you realize that you have to continue to pay the lease and end up paying $1,600 to $2,400 to get out of your merchant agreement.

Matt Wiltsey is a large criminal, consumers beware of Payment Systems and Matt Wiltsey

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