13 thoughts on “top 10 credit card processing companies

    • Knowing the top 5 processors is helpful, but not the answer to knowing which is the best organization to become an agent for. Most agents look at revenue splits. What good is that if there is no competitive advantage to the products offered? More important is how can this company help me and what will be my exit strategy?
      Having said that, I will help you out. I think most agents can find what they need from Jim Jeranek , Corporate Recruiting, Paypros. 866-795-2290 x4828. I only ask one thing- please tell Jim that Christine Speedy from 3D Merchant Services referred you. He’ll pay me a one time referral fee.It doesn’t cost you a dime to talk and they’re willing to pay, so why not? The referral fee is not why I’m suggesting Jim though. I’m suggesting Jim because they do have a good payout, good customer support, and they represent multiple processors so there is flexibility.
      It depends on your target market whether they have the best customer solutions. I sell payment solutions, not credit card processing. My customers can process with anyone they want. My focus is only on markets where I have significant market advantages- such as token billing, level 3 processing, multi-channel – customers want my technology. Especially for business to business, legal, automotive industry, and multi-location retail, merchants need solutions that I have. So- sell credit card processing- but if you have prospects that fit my niche, then come back here for a solution that will help you close more deals and increase merchant retention.

  1. I am using Merchant Services for my credit card processing. They are horrible! They overcharged me on debit swipes for the first year and refuse to reimburse me. I am a small business and am looking for a processing co. that will be honest and fair. Wo do you recommend? Thanks for the info. Paul Cason dba A-1 Hobby.

  2. How small is your small business? I’ve written about the options for very small businesses, such as under $50,000 a year. In those cases, try your local wholesale club.
    Personally, I can set you up on First Data or Paymentech platforms through an ISO, that’s independent Service Organization. Call the hotline at the top of the page and lets talk.^ Christine

  3. I have been using First Data as my credit card processor at my business. The experience has been poor at best. Inability to receive competent support, phone numbers not made available, sales reps who don’t return calls are the norm. This company has no sense of what the term “customer service” means. They are completely out of touch with the needs of merchants and they don’t care. I have spent over 6 hours trying to get help and I am placed on perpetual hold. Rude attitude and ignorance towards their service are the main requirements for a job at First Data. In these times of a down economy, I would have thought a company like this would embrace new business not drive it away. I guess was wrong.

  4. HI Ken
    I’m sorry you’ve had such a bad experience with them. Here’s where I differentiate my services. I can provide you the support level that you need, mainly helping you with a problem when one comes up by being available. You’ll have a 24 hotline to call, plus my own phone number and email. Additionally, I work in teams. So if I’m going to be out for an extended period, like vacation, you’ll get a response to that effect with someone else’s contact information. Just because First Data is the underlying platform for your processing, doesn’t mean you have to go through that type of experience.

    I won’t kid you. My customers are encouraged to call the related toll free support number for their account once they are running smoothly. Your support number and team would not be the same as now regardless of where I placed you. Why do I have them do this first? Because if you need immediate help and I’m in the middle of a demo, I won’t even get your message for an hour, when in most cases the support team would have already helped you within 10 minutes. I’ve never had a customer leave me for lack of support- ever. ^ Christine

  5. Never, I repeat never…. use an ISO just another middle man in the process. Use a company that’s authorized by the Fed to do front end and back end processing Ex: Heartland Payment Systems. ISO’s have ruined our industry. We all start with the same inter-change numbers – set by the Fed. if you have a bank and a ISO or two in the process they all have to get paid. Unless they are willing to lose money there is NO way for them to save you money. ISO’s promise the world and deliver a shell game. You dont have to be a Phi Beta Kappa to realize the more middle men you have to pay the likely-hood of them saving you $$ is impossible. With Heartland it’s you and the processor – that’s it and they are 100% turn-key, not to mention you will be PCI compliant – not so with an ISO!! Don’t be fooled. Call a Heartland RM and get real – transparent results!! Contact me: Patrick Smith RM-TN / HPS
    Have a great day!

  6. HI Patrick, Thanks for your input.
    If ISO’s couldn’t offer value to merchants, they wouldn’t exist. Instead they exploded over the last decade. Why? Because direct acquirers, including Heartland, had HUGE mark-ups, even over 100% for large corporations. So if ISO’s ruined the industry by creating competition, transparency, and eliminating HUGE mark-ups, let the destrruction continue.

    ISO/MSPs create value for the client in two fronts: 1) reducing core-processing costs while helping the client fight fraud at the point of sale, and 2) selling additional value-add services. Profit mark-ups are much more level between acquirers and ISO’s now than in the past, and margins are much smaller. Merchants now must look to improve interchange qualification to further reduce their processing costs. Merchant need automated solutions to reduce risk and improve interchange qualification.

    I could work direct for any of the large processors. I choose not to. The corporate culture moves too slowly and is frequently reactive instead of proactive. The acquirers we’ve met with say they are YEARS behind in developing anything like the technology switch we offer our customers. As to Heartland and PCI specifically…c’mon. Merchants are required to be PCI compliant, regardless of who their processor is. Given that Heartland may forever hold the title for largest payments data breach in US history, you might want to be a little less disparaging to an entire industry, most of whom have never had a breach.

    BTW, I offer payment processing via ISO’s for 5 of the top 10 providers. Why not just one? Because there are pro’s and con’s for every service provider. By matching merchant needs to just the right provider, the merchant benefits in more ways than just dollars. At Heartland you offer one solution- yours- and it might not be the best one for every merchant, but it’s all you have to offer. See the beauty of being in my position?
    Christine
    3D Merchant Services

  7. A few updates for you. Nova was acquired and reported previously.

    Are you with a top 10 company now? What kind of help are they giving you to reduce costs? Another “rate drop”? Folks, this is not the way to lower your effective rate in 2011 and beyond. If you’re a mid-size business and want to improve EBITDA, you need a lot more than ‘cost cuts’. We are transforming the way merchants accept and process payments with the most advanced, user friendly system on the planet. Read more here http://3dmerchant.com/about/what-we-do.php

  8. Thanks 3D Merchant for the response to the Heartland guy. I am an independent agent and I work with 6 different companies. I am able to beat Heartland 99% of the time and provide excellent customer service. In fact I just boarded a former Heartland client that processes $5 million a month! They were totally unhappy with Heartland. Today I met another merchant that processes with Heartland and they gave me there statements to do an analysis.. :-)

  9. Do you know anything about a company called, Payment Systems Corp? If so, what is your opinion and do you know how they rank against their competitors?

    • The BankCard Group is a registered ISO of Woodforest National Bank. Per wikipedia, Woodforest National Bank and the Office of the Comptroller of the Currency reached a $32 million settlement regarding the bank’s continuous overdraft fees, and a 2014 class action settlement put an end to debit card transaction processing in the same order as check processing, potentially resulting in additional overdraft fees.
      WNB main merchant services web pages lists Quick Reference Guides for terminals which reached end of life in 2010. While they were popular terminals at one time, is it really page one material for merchant services today?
      Based on my research, Woodland appears to use the eProcessing network. This is a universal gateway that connects to First Data, Paymentech etc. and has above average features supported.
      Here’s a few things eProcessing network does not include:
      - Signature capture terminals not supported
      - Level III data for retail not supported
      - Least cost routing

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