Credomatic Merchant Services Reviews & Complaints
Company Overview
Credomatic Merchant Services, also known as Credomatic of Florida, Inc., is a merchant account provider that was founded in 1981. The company is a U.S.-based subsidiary of BAC Credomatic Network and appears to rely on TSYS for its processing network.
Credomatic Merchant Services Payment Processing
Credomatic Merchant Services processes most major debit and credit cards for most business types. Their services include EMV readers and card swipers, POS solutions, wireless and mobile processing, access to multiple payment gateways, OptBlue American Express processing, e-check processing, gift and loyalty programs, data reporting and analysis, payroll and marketing services, and cash advances. The company provides retail merchants with Global Bay Merchant POS systems while offering restaurants Focus POS, Ordyx, and Ambur.
Mobile Payment Services of Credomatic Merchant Services
Credomatic Merchant Services provides a comprehensive mobile payment service catering to businesses that require on-the-go transaction capabilities. This service enables businesses to accept and process card transactions directly from a mobile device. It's particularly beneficial for outdoor vendors, event organizers, and mobile service providers, offering an increased level of transactional convenience and flexibility.
E-Commerce Payment Processing from Credomatic Merchant Services
In response to the rising trend of online shopping, Credomatic Merchant Services offers a secure online payment processing service. They provide an efficient online payment gateway that allows businesses to easily manage online transactions, meeting the needs of a digitally inclined customer base.
Virtual Terminal Services by Credomatic Merchant Services
Credomatic Merchant Services provides a virtual terminal service for businesses that primarily operate via mail or phone orders. This service allows businesses to manually input card information into a secure web-based system, providing a versatile solution for remote payment processing.
Integrated Business Management Tools by Credomatic Merchant Services
Beyond their payment processing services, Credomatic Merchant Services also offers integrated software solutions aimed at enhancing various aspects of business operations. These tools cover functionalities such as payment processing, inventory management, CRM, and data analytics, contributing to improved operational efficiency for businesses.
Location & Ownership
The company's U.S.A. headquarters is located at 9155 S Dadeland Blvd, Miami, FL 33156. The company is an ISO/MSP of BAC Florida Bank, Miami, Florida, and the CEO of Credomatic is Rodolfo Tabash Espinach.
Pros: | Cons: |
---|---|
User-friendly interface | Higher fees for non-qualified transactions |
Third-party processor | Not ideal for low-volume businesses |
Flat-rate pricing | Limited to US-based, non-high-risk merchants |
Best for multiple sales channels | Tiered pricing can be costly |
Comprehensive equipment options | Lack of pricing transparency |
Credomatic Customer Reviews
Here's What Their Clients Say
Total Online Complaints | <10 |
---|---|
Live Customer Support | Yes |
Most Common Complaint | N/A |
Recent Lawsuits | No |
No Complaints
Our research indicates a minimal number of Credomatic Merchant Services reviews with complaints. Notably, there are no allegations of the company being a ripoff or a scam. Credomatic’s strategy of assigning dedicated in-house relationship managers to specific merchants appears to be an effective approach in addressing and preventing public complaints. We welcome your personal experiences with Credomatic Merchant Services; please share your review in the comments below to aid others in their decision-making process.
Credomatic Merchant Services Lawsuits
As of our latest check, there are no outstanding class-action lawsuits or Federal Trade Commission (FTC) complaints against Credomatic Merchant Services. Clients looking for non-litigious resolutions are encouraged to report their issues to relevant supervisory organizations.
Credomatic Merchant Services Customer Support Options
Although Credomatic Merchant Services may not be ranked among the top payment processors for customer service, its initiative in employing relationship managers and providing a dedicated support phone number are commendable efforts towards customer satisfaction. If you have interacted with their customer service, your insights would be highly valuable. Please share your experience in the comment section of this review.
Credomatic Merchant Services Customer Service Numbers
- (877) 372-3012 – General Support
- (305) 372-3012 – Local Office
- (305) 670-5217 – Fax
Other Support Options
- Support form
- Customer service email address at [email protected]
Credomatic Online Ratings
Here's How They Rate Online
Product & Service Complaints | 0 |
---|---|
Billing & Collection Complaints | 0 |
Advertising & Sales Complaints | 0 |
Guarantee & Warranty Complaints | 0 |
Delivery Complaints | 0 |
No BBB Complaints
Credomatic Merchant Services is not an accredited business of the Better Business Bureau and currently has no rating, though it previously had an “A+”. The company has received 0 complaints in the past 36 months. Credomatic Merchant Services has also received 0 informal reviews on its BBB profile.
An “A” Performance
In light of the company’s clean complaint record, we agree with the BBB’s former rating at this time. Business owners should note, however, that there are good reasons to be skeptical of the BBB’s rating system.
Credomatic Fees, Rates & Costs
A Closer Look at The Contract
Cancellation Penalties | Yes |
---|---|
Monthly & Annual Fees | Yes |
Processing Rates | Interchange-Plus |
Equipment Leasing | Unclear |
Interchange-Plus Pricing Structure
Credomatic Merchant Services typically enters into a three-year contract with merchants, featuring automatic one-year renewals. The agreement includes an early termination fee of $250, a monthly minimum fee of $25, a monthly statement fee of $10, and a PCI Compliance fee of $7.50 per month. Additionally, Credomatic emphasizes its commitment to offering interchange-plus pricing to all merchants, a model known for its transparency in billing practices.
Concerns Over Early Termination Fee
A subsequent iteration of the company’s terms, seemingly more recent than the previously cited contract, outlines an early termination fee of $1,500. Such a significant fee is notably high and, surprisingly, has not led to widespread negative feedback from merchants. While this fee might not apply in all cases, its mere potential could deter some businesses from engaging with Credomatic Merchant Services, impacting its competitiveness against the most affordable merchant accounts. Merchants are advised to exercise caution and clarify the conditions under which this fee might be imposed before finalizing any agreements.
Evaluation of Contract Terms
The outlined contract terms, while not exceptional, have not been a major source of complaints among merchants regarding Credomatic Merchant Services. Therefore, despite some concerns, particularly regarding the high potential early termination fee, Credomatic Merchant Services will be assigned a “C” rating in this evaluation. Businesses are encouraged to share their experiences, especially concerning fees and contract specifics, to aid others in making informed decisions.
Credomatic Employee Reviews & Sales Tacitcs
Should You Work For Them?
Uses Independent Resellers | No |
---|---|
Telemarketing | No |
Misleading Marketing | No |
Discloses All Important Terms | No |
Credomatic Sales Approach
Credomatic appears to utilize referral programs and W2-employed sales agents to market its services. The use of W2 agents tends to allow a company to exercise greater control over the conduct of its agents, resulting in lower client complaints. We are unable to find any Credomatic reviews that mention the company’s sales team, which suggests that its agents are well-trained and appropriately regulated. That said, we always recommend that merchants consider a third-party statement audit to find and eliminate hidden fees.
No Deceptive Advertising
As another point in the company’s credit, Credomatic also does not appear to engage in any deceptive advertising strategies in its official materials. We will therefore award it an “A” in this category.
Our Credomatic Review Summary
Our Final Thoughts
Credomatic Merchant Services rates as a reliable credit card processing provider according to our criteria. The company is showing 0 public complaints and appears to place an emphasis on quality customer service and transparent sales strategies. The one factor lowering its score is its industry-average contract. Business owners are still advised to read all documentation before signing up with the company and to compare its costs with those offered by top-rated merchant services providers.
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Ezra Pamela
I’ve been a loyal customer of Credomatic for several years now, and I can confidently say that they have exceeded all my expectations as a merchant service provider. Working with them has been an absolute pleasure!
From the very beginning, Credomatic’s team showed genuine interest in understanding my business needs. They took the time to listen and offered a tailored solution that perfectly aligned with my requirements. It’s evident that they value their customers and treat us as partners, not just account numbers.
What sets Credomatic apart is their user-friendly platform. It’s so intuitive that even a non-tech-savvy person like me can navigate through it effortlessly. Managing transactions, tracking sales, and accessing insightful reports have become a breeze, which has greatly improved my business’s efficiency.
When it comes to pricing, Credomatic has been upfront and transparent. There are no hidden fees or surprises in my monthly statements, which is a huge relief. Their competitive rates have also saved me money, making them a cost-effective choice for any business.
I must commend their outstanding customer support team. Whenever I have a question or encounter an issue, they respond promptly and professionally. I never feel like I’m just another customer; they genuinely care about my success and are always willing to go the extra mile to help.
Security is of utmost importance in the payment processing industry, and Credomatic takes it seriously. I trust their robust security measures to safeguard my customers’ sensitive information, giving me peace of mind.
Over the years, Credomatic has consistently demonstrated their commitment to innovation. They keep up with the latest trends and technological advancements, offering cutting-edge solutions to enhance my business operations.
In conclusion, I can confidently say that Credomatic is more than just a merchant service provider; they are a true partner in my business’s growth and success. Their exceptional service, user-friendly platform, transparent pricing, and top-notch security make them stand out in the industry. If you’re looking for a reliable and customer-focused solution for your payment processing needs, I wholeheartedly recommend Credomatic. They have earned my trust and loyalty, and I’m sure they’ll do the same for you!