Capital Processing Network
Rating Criteria | Top Rated Processors | Get Instant Rate Quotes | Write a Review
Capital Processing Network Overview
Capital Processing Network Logo
Capital Processing Network (capitalprocessingnetwork.com) is a fairly recent addition to the merchant services industry. This provider is located in Phoenix, AZ and entered the credit card processing industry in 2006. Capital Processing Network is a relatively small operator among the numerous providers out there, but does have a very professional website which adds to the company’s credibility.
As of this review, Capital Processing Network meets the Better Business Bureau’s (BBB) accreditation standards and holds and “A” rating with 22 complaints filed in the last 36 months. The bulk of the complaints are centered on advertising and sales Issues as well as problems with products or services.
Capital Processing Network has about 25 complaints filed elsewhere online. The complaints mirror the types that are filed with the BBB with two common themes. The first common complaint is with Capital Processing Network’s use of telemarketing to set appointments for agents to visit the merchant. Several merchants complained of constant phone calls even after they specifically requested to be removed from Capital Processing Network’s calling list. Apparently, the calls were so frequent that these merchant felt the need to publicly complaint about it.
The next common complaint casts a little more concern with this reviewer. Merchants complained of being lured into 48 month equipment leases but only 36 month merchant account agreements. This puts merchants in the awkward position of being forced to keep one more year of service with Capital Payment Processing in order to fulfill the equipment lease. Not only did this upset merchants, but the leases cost merchants thousands of dollars for machines that could be bought for as little as $150. Add to this a steep $495 early service termination fee and you could see why these merchants were compelled to file complaints. In another complaint from a former employee, Capital Processing Network responded by threatening to sue the individual if he did not removed his complaint. Unprofessional rebuttals like these could make evident the type of culture and philosophy that Capital Processing Network possesses.
Lastly, a recent news story by CBS 5 in Arizona surfaced regarding Capital Processing Network’s employment practices of hiring convicted felons, some with a history of fraud and identity theft. The full story can be found on the CBS 5 website.
Capital Processing Network, LLC is a registered ISO/MSP of First National Bank of Omaha and of Wells Fargo Bank, N. A., Walnut Creek, CA, and appears to use First Data as its processor. However, the exact processor could not be determined at the time of this review.
Praise, Complain or Tell Us More About Capital Processing Network
Leave your review or comments about Capital Processing Network in the comment section below. A full CPO review is pending for this provider and your comments will be taken into account for the full review.
Get Updates
To be notified when Capital Processing Network receives a full CPO review, follow CardPaymentOptions.com on Twitter and Facebook, and subscribe for updates via RSS, or email. Don’t worry, we hate spam too. You can unsubscribe anytime.
Featured Provider:
Merchant Warehouse (866) 460-5538
Review | Website
- Check Our Recommended Processors
- Compare Processor Rates & Fees
- How to Avoid Scams, High Fees and Long Contracts
- Merchant Services Jobs
Copyright © CardPaymentOptions.com (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608)
12 comments
Dan
May 17, 2012 at 7:19 am (UTC -7)
I am embarrassed to say I signed with this company.
My salesperson also was Benji Stemple. He mentioned to me his brother is the president of the place.
I knew the lease was exorbitant but signed it because when combined with the savings Benji presented it seemed like a good deal. Fast forward to our first statement. Guess what, not what he led me to believe.
Paul
May 15, 2012 at 1:22 pm (UTC -7)
I just finished a meeting with the Capital Processing Network sales rep. I felt very slimy after the meeting. After numerous requests for a documented list of monthly fees based on both a mythical sample transaction and average monthly transactions with our current processor the rep became agitated and stated company policy was to not leave an untendered offer. The rep then began the hardsell push to call our currrent provider and ask if there were any early termination penalties so that I could signup with CPN right there and then. I told the rep I always ‘review the numbers’ before I make a decision and I never decide on a first visit. Needless to say the rep wasn’t too happy when he left.
I also did not care for the high incidient of telemarketing calls but figured I’d be able to make them stop if I just met with the rep.
There wasn’t any pressure to lease a processing machine since we currently only conduct B2B transactions using a web based terminal.
tai pham
May 7, 2012 at 4:05 pm (UTC -7)
A Stern Warning:
Do not sign up with Capital Processing Network Co.
And if you do, either have your Attorney read it or just watch how the Rep smooth you to sign all he wants you to sign your life away, especialy the ” Personal Guarantee part “
Phillip Parker
May 7, 2012 at 4:12 pm (UTC -7)
Hi Tai,
Can you please provide more detail about your experience? Otherwise, we’ll have to delete this comment since it is not technically a review.
tai pham
May 10, 2012 at 12:49 pm (UTC -7)
I was told by the Capital Processing Network representative that in order to sign up with CPN and save on the average $200/mo over my existing service provider, I must sign an equipment lease agreement with CPN and when I was pondering the thought he quickly added the fact that my own T7plus terminal will not work with CPN system.
Now, did I really save on the average $200/mo ? NO ! Is it true that T7plus will not work with CPN system ? NO !
It would work just fine, just like any other terminal all it needs is just a simple download from any Service Provider.
Now I’m stuck with a fraudulent lease of = $4,224 ( $88/mo x 48 mos ), when my paid for T7plus terminal only cost me $300.
Julie
May 10, 2012 at 5:24 pm (UTC -7)
I feel your pain. I did the same thing but the lease was only $39 a month. I hope to get out of it. I didn’t realize I was signing a personal guarantee or a no break lease. Next time I’ll have an attorney review.
They are only in the business to lease machines that are overpriced. I changed back to [redacted - solicitation] for processing as they are considerably less than Capital and have excellent customer service.
Plus I don’t want to reward Capital..
Gilbert
May 7, 2012 at 10:21 am (UTC -7)
I’m researching Capital Processing Network employees past.
Many have criminal records for i.d. theft, forgery, and drug use.
Email me at gilbert.zermeno@cbs5az.com if you have had issues with Capital Processing. Thanks GZ.
Lesa
April 4, 2012 at 4:49 pm (UTC -7)
This company deserves a D for a score! From their relationship with First Data Global Leasing, to their sales tactics to their early termination fee to their lack of customer service access/support, they take advantage at every opportunity. Knowing what I now know I would tell anyone to run away as fast as possible if a salesperson from Capital approaches you. They started out very heavy handed and it should have been a clue! The lease agreement has no way out (yeah, I know that was dumb on our part) and my only comment about the extremely unethical $495 termination fee is that I am so glad to be rid of this company I will chalk it up to an expensive lesson learned.
Julie
April 10, 2012 at 6:05 pm (UTC -7)
I wish I found this before I signed the agreement. I can’t even find anyone to talk to. If I can get out of this for $495 I too will chalk it up to the school of hard knocks.
There rate is considerably higher than my last company and the service is F-.
As the others stated do not set up an appt. do not sign until your attn’y looks it over.
Ken Tobias
January 17, 2012 at 8:47 pm (UTC -7)
I can only echo the complaints above! They promise reduced processing rates that look good for the first month until you see the lease payment fees! Then in reality, you’re paying more than your previous processor. If you’re in the Chicago area, watch out for their representative, Benji Stemple. He’ll smooth talk you into believing that their rates are better but you’ll get a rude awakening when the lease payments hit. Don’t let that guy in the door!
Wendi
November 22, 2011 at 9:09 am (UTC -7)
We also have a small business, and this seems to be a common theme with credit card processors. We had Intuit (QuickBooks) and they did similar shady sales tactics. We asked questions as when they faxed over the lease for the equipment, it stated it was non-cancellable and was for 36 months. Our credit card machine ended up costing us three times what it was worth and to add insult to injury, it ended up being an outdated machine! My advise- don’t sign anything until you are satisfied and have it in writing and inform yourself!
We are currently with Elavon and are satisfied as they were able to use our outdated machine and their statements are easy to reconsile and I have found their rates are competetive.
Budget Pool Supply
September 1, 2011 at 1:13 pm (UTC -7)
My husband talked to a capital processing representative by phone and signed a faxed contract. After reviewing the contract the same day we realized they signed us up for 48 months of leasing a processing machine at $88.00 a month. The next day I called and canceled telling them that I was not going to pay 4.000.00 for leasing a machine. They said they could put it down to $44.00 a month and I told them we were not paying them $2000.00 for a machine. Since then they have taken 37.00 a month since Sept. then 186.00 for we don’t know what on Mar31. In April $37.00, May and June 56.95 a month and July 88.93. In all $555.94 for processing nothing. We signed up with Bank of America and are not happy with them either.