Capital Payments Overall Rating
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Capital Payments (capitalpayments.com) is a relative newcomer to the electronic payments industry. Founded in 2007 in Melville, NY, Capital Payments appears to be an upwardly mobile company having already made its first acquisition, Applied Merchant Systems, in late 2009. Backed by notable names in the processing industry such as Merrick Bank, First Data, TSYS, Authorize.net, Network Merchants, Inc and USA ePay, Capital Payments appears to be poised to become one of the leading companies in the merchant services industry. Capital Payments, however, does not offer merchant account services directly but acts as an independent sales organization (ISO) of First Data, TSYS, and Merrick Bank.
Capital Payments sells the services of processors capable of providing a comprehensive merchant processing portfolio of services, including electronic payment processing for:
- All major credit card brands including Visa, Mastercard, American Express and Discover
- Debit cards
- Prepaid cards
- Gift Card and loyalty card solutions
- Cash advance
- eCheck
- e-Commerce solutions
Capital Payments Negative Reviews and Complaints
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At the time of this review, Capital Payments maintains a Better Business Bureau rating of ‘A-’ and has only been an accredited business with the BBB since September 2008. There are currently no complaints reported with the Better Business Bureau for this company.
There are also no complaints with online complaint boards such as “RipOffReport,” “Pissed Consumer,” or “Complaints Board.” The lack of complaints may relate to the company’s relatively new status or could be an indication that they have satisfied clients. There may also be a tendency for consumers to register complaints against First Data instead of Capital Payments because First Data is the actual merchant account provider.
Cancellation Fees
As far as cancellation fees are concerned, because Capital Payments does not sign merchants up for processing directly they do not assess cancellation fees. Capital Payments operates as an independent sales organization (ISO) for processors such as First Data, TSYS, and Merrick Bank. Rather, cancellation fees, as well as pricing structure and contract terms, are determined by the processor that Capital Payments pairs with the merchant. Interchange-plus pricing is preferred by Capital Payments, though pricing structure is ultimately dictated by the processor. A careful review of the merchant contract is necessary in order to understand pricing, terms, and cancellation fees.
Dispute Resolution
Capital Payments does not appear to have a social media presence at this time; however it is sure to be in the works since the main focus of Capital Payments is to sign new business. With that being said, since there are no complaints regarding this company with the Better Business Bureau, RipOffReport, PissedConsumer, or Complaints Board, there is a strong indication of a good dispute resolution process.
Conclusion
This Capital Payments review found that this relatively new company offers a wide variety of electronic payment options via its agreements with several well established payment processors. What’s nice about Capital Payments is that because they work with more than one processor, which gives applicants an opportunity to comparison shop between several processors in order to get the best deal. The key to any successful merchant processing relationship is to ensure that you read your contract thoroughly in order to avoid unnecessary surprises.
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