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Report: #381810

Complaint Review: Prestige Payments Systems - Payment Systems For - Vancouver Washington

  • Submitted: Thu, October 16, 2008
  • Updated: Tue, January 22, 2013
  • Reported By: Omaha Nebraska
  • Prestige Payments Systems - Payment Systems For
    1300 Esther Street Suite #203
    Vancouver, Washington

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We received a similiar call, promising to "save us money", that they no doubt have the lowest rates, etc. Really trying hard to sell us.

She promised me we would have a discount rate of 0.40% (yes that is 0.40%), with $0.10 transcation fee, NO minimum monthly discount and a $10.00/mo statement fee. Sounds too good to be true?? Well, it is.

Red flags went up immediatley for me. The only documentation she faxed me was a rate sheet and the last sheet of their contract to sign to accept her offer. She would not fax me the whole contract and had nothing else in writing. She claims there is no contract, it's pay as you go and no cancel fee. But still she couldn't even fax me that in writing.

She did offer to take a blank sheet of paper and hand write her offer. After I started really questioning her, she still tried really hard to sell me even though she had no other documentation. She even called me back to see if I changed my mind, offering to fax me 100 of her happy customers (which I have yet to see.)

I called our busines banker, a trusted resource, and she assured me that there are hidden fees. If Prestige couldn't disclose the whole contract in writing, then they are not being truthful. The industry going rate for credit card merchants is 2.00%+. There is no way they could offer 0.40% and almost all merchants require a minimum monthly charge, along with several other fees.

I also called Chase Paymentech which was on Prestige's fax cover letter. Prestige Payment Systems is a third party merchant. Chase Paymentech couldn't even offer me 0.40% that Prestige claims!! If they are using Chase to do their transactions, the 0.40% and $0.10 doesn't even begin to cover any costs they would incur!!

Just do a little research yourself and you will find the same information. These folks at Prestige are running a scam and I hope someone stops them.

Smart consumer
Omaha, Nebraska

This report was posted on Ripoff Report on 10/16/2008 09:08 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

They are not a Processor, They are a Re-seller, save your time and money.

AUTHOR: DontWorkWithResellers - ()

These guys are like so many companies who are not actually providing any service for you. There are only a hand full of actual credit card processors in the entire industry. First Data, TSYS, Heartland, Chase, Elavon, Moneris, Global Payments, World Pay and Vantiv. Other than those listed every other company HAS TO RE-SELL one of the companies processing services with a mark up in order to turn a profit. They are all middlemen who do not provide any service what so ever. So if you are a merchant dont waste your time working with a re-seller. Go directly to the source with the actual processor and save time, money and the headache and quit basically giving out your money to companies like these who are not doing any actual work for you. 



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#2 Consumer Comment

I'm a current customer

AUTHOR: EaglePGC - ()

I've been a customer of Prestige Payments Systems for about 9 months now. I am extremly impressed with the service, honesty, and rates that they provide my small business. The rates are industry low, but not as low as Smart consumer was offered. My oppinon is that this is a good, honest company.

Perhapes Smart consumer and Prestige Payments Systems are both victems here of some sort of phishing scam.

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#3 UPDATE Employee

No Way

AUTHOR: Hip Hop - (United States of America)

There's no way the Boss would sign off on it because he would have to pay the extra percent that was supposedly "discounted" for you. He would in tern be paying more money out of pocket, so it just does not make any sense for him to do so. I apologize for the confusion but I believe this is all a misunderstanding. 
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#4 UPDATE Employee

Discouraging Information

AUTHOR: M Harris - (U.S.A.)

The information presented by Smart Consumer in Omaha, Nebraska about our company was discouraging to read. Somehow very important facts were lost and information was not received correctly. Smart Consumer alleges they had a conversation and asked questions of our sales person. They later felt compelled to share this with a point of view that appears to be distorted.

Smart Consumer does not say if they were a past or present client, so they have an opinion about Prestige based upon a sales encounter. Their comments are based on products and services they have not received. Prestige Payment Systems has a Customer Service Department that provides outstanding customer support and prides itself in its attention to detail.

The program Smart Consumer is attempting to make a comparison to is one that many merchants take advantage of on a regular basis. That program utilizes an interchange pass through plus 40 basis points. It is not understood how that information was interpreted to be a four tenths of one percent as the discount rate. Had the consumer been interested and requested more information they would have been faxed a schedule of all the charges associated with our services.

In the merchant processing industry, there are fees associated with different aspects of processing consumer cards. Some of these fees include transaction fees, batch fees, etc. The cost of these associated fees is reviewed at the time of the sale and is recorded on a Schedule A. The merchant must sign this form indicating they have reviewed and agreed with the information outlined, and accept the offer. An account cannot be activated without this signed form from the prospective customer.

Smart Consumer's interpretation is inaccurate and their comments are inappropriate. If the merchant would identified themselves we would be happy to explain the program to them so they could understand it.
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#5 Author of original report

Prestige Payment Systems

AUTHOR: Smart consumer - (U.S.A.)

name correction for search
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