Crescent Processing
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Crescent Processing Overview
Crescent Processing Company Logo
Founded in 2006, Crescent Processing Company (crescentprocessing.com) is a merchant account provider located in Dallas, Texas. Crescent uses TSYS for its card processing network but appears to handle the customer service of its accounts directly. Aside from providing credit card processing services, Crescent also supplies PIN debit processing, check services, gift card processing, electronic signature capture, and merchant cash advances. Crescent Processing Company is also affiliated with new a provider called Park Central Company. It is unclear if Park Central is just another business name Crescent uses, if it is a subsidiary, or an independent sub-ISO. The evidence suggests that it is either another DBA of Crescent or a wholly owned subsidiary.
Crescent Processing Sales Tactics & Marketing Strategy | D
Crescent Processing Company appears to rely heavily upon hiring independent outside agents and resellersto market and sell its services. Based on reports from numerous merchants, it appears that Crescent is doing a poor job of policing the deceptive sales tactics that some of these agents occasionally use. Not only that, but Crescent’s sales process seems to encourage agents to sell expensive, long-term merchant account contracts in exchange for high commissions. It appears that Crescent agents are either poorly trained on the details of the contracts they sell, or are encouraged to avoid discussing them with potential merchant customers.
Crescent Processing Fees, Costs & Contract Terms | D
Pricing and contract terms seem to vary based on the merchant and the agent setting up the account. However, Crescent’s standard contract appears to be a four (4) year agreement with a $495 early cancellation fee. Merchants are encouraged to carefully read and understand their contracts before signing with Crescent. Crescent sales agents are also incented to lease credit card terminalsthat also appear to come with expensive contracts. This reviewer advises to never lease processing hardware because it is the most expensive way to obtain it. Always buy your equipment and shop around before purchasing it.
Crescent Processing Complaints & Service | D
For a provider of its size and time in business, Crescent Processing Company has a high number of complaints. The common theme among the complaints is that merchants reported receiving higher than quoted processing fees, other unexpected and undisclosed fees, and non-disclosure of the $495 cancellation fee other than it being buried in the fine print. A few reports also indicated a poor level of customer service and long wait times when attempting to resolve problems. Most of the problems appear to be traced back to the sales agent as the source of the problems due to non-disclosure of terms and fees; however, Crescent’s business practices seem to allow for these types of problems to occur.
Crescent Processing BBB Report | D (CPO Adjusted)
As of this review, Crescent Processing Company is not accredited with the Better Business Bureau (BBB). Additionally, the BBB is reporting 321 complaints filed in the last 36 month against the company. Yet, inexplicably, the BBB is awarding Crescent an “A-“ rating. Of the 321 complaints, 160 are regarding service problems, 81 with billing issues, 79 with advertising and sales issues, and one with a delivery problem. Also of the complaints, 76 (23%) were not resolved to the merchants’ satisfaction. Based on the amount of complaints and that many have gone unresolved, we are adjusting the rating to a “D” for the purposes of this review. You can learn more about why we adjust BBB ratings in our rating criteria.
Bottom Line
Crescent Processing Company has received a low rating in this review because of its heavy use of independent resellers and its high complaint count. Crescent can improve its rating by implementing business practices that do not allow agents to deceive merchants, reducing or eliminating its cancellation fee and service agreement length, and reducing or eliminating future complaints.
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1 comment
Yvette Holloway says:
February 8, 2012 at 10:07 am (UTC -8 )
BELOW IS A COPY OF A LETTER I SENT CRESCENT PROCESSING TODAY, FEBRUARY 8, 2012:
“I am providing your company with more than 30-days’ notice that we will NOT be renewing our contract with your company for merchant processing effective immediately. After May 22, 2012, we will not be requiring your company’s services. We are appalled at the service we DID NOT receive from your company in that we were 1) not notified by anyone that there was a large chargeback on our account; 2) even though I provided our correct address to your company many times, our merchant statements were sent to the wrong address, thus we never received any documentation your company states they sent to us regarding the chargeback; and the “mother” of them all; 3) “it’s not our job to inform you” is what I was told by two of your managers; if you want their names, your Contract Department can look that up in their notes, if they took them. That is not customer service and I will make sure everyone on Facebook, BBB, Yellowpages, etc. knows what your company told us.”
The transaction date was 1/16/2011; the posting date was 11/17/2011; Received date was 01/20/2012; the resolved date was 01/24/2012 (which we knew NOTHING about because we never received any notification letters or phone calls to let us know there was a chargeback on our account). My secretary was reviewing our merchant statement when she saw a $10 retrieval charge and called them to find out what that was for and they told her it was for a chargeback. We had no idea there was such a chargeback and when asked why they did not notify our company, they said they did, which they really didn’t. I asked them if they sent letters or called and they said they sent letters to 2420 Irving Blvd., Dallas, Texas 75207. That was our previous address and I informed them that we moved last August to 2460 Irving Blvd. They said that even though their system reflected our correct address when I asked them to provide me with what they had down as our present address, they still had us down at 2420 according to their letter, to which I replied that was not our fault they did not have their act together. Christine or Cindy (cannot remember her name) said that they sent letters twice and twice they were returned. I then asked why didn’t they just call and inform us about what was going on if they received two returned letters; she did not have an answer. They processed the charge for $2,508.69, took the fees in connection with the charge, and then applied a chargeback. I had my secretary call them on 01.27.12 to request a copy of the letter to which we received, complied with their request for proof such as the signed credit card receipt for goods and a copy of the invoice, which is what they wanted all before 02.05.12 which was our given deadline. After all of that, the client STILL kept the money, Crescent STILL kept our processing fees for doing nothing but giving the customer his money back, then Christine or Cindy’s boss came on the phone and threatened to keep the rest of the credit card charges unrelated to this client in suspense. They said the reason for giving the client his money back was because we were not compliant with the request for proof, I told them I complied with what they wanted and then they said we were scammed. I am disgusted with Crescent. Please help!
I want the charge reversed and back into my account, I would like to get my money back for processing fees and I would like out of my contract.