Crescent Processing Company Review


Overall Rating Breakdown
Sales & Marketing Tactics
Costs & Contract Terms
Complaints & Service
BBB Rating

Crescent Processing

"D" Credit Card Processor Rating

Last Updated: June 24, 2014
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Jump to: Sales & Marketing | Costs & Contract | Complaints & Service | BBB Complaints

Crescent Processing Overview

Crescent Processing Company Logo

Crescent Processing Company Logo

Updated 6/24/2014: The Crescent Processing website (crescentprocessing.com) is inactive and Crescent Processing is now operating under the name of Future Payment Technologies.

Founded in 2006, Crescent Processing Company (crescentprocessing.com) is a merchant account provider located in Dallas, Texas. The company uses TSYS for its card processing network but appears to handle the customer service of its merchant 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 two newer providers called Park Central Company and Future Payment Technologies. The evidence suggests that both Park Central and Future Payment Technologies are DBAs or wholly owned subsidiaries of Crescent. Crescent Processing Company is a registered ISO/MSP of Synovus Bank, Columbus, GA.

Crescent Processing Sales & Marketing Tactics | D

Key Points – Sales & Marketing 
Uses independent resellers? Yes
Promotes deceptive rate quotes? No
Discloses all important terms? No

Crescent Processing Company appears to rely heavily upon hiring independent outside agents and resellers to market and sell its services. Based on reports from numerous merchants, it appears that the company is doing a poor job of controlling deceptive sales tactics that some of these agents occasionally use and that Crescent’s underwriting policies allow for. Not only that, but the company’s sales program 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 Costs & Contract Terms | F

Key Points – Costs & Contract Terms
Swiped rate: Variable
Keyed-in rate: Variable
Termination fee: $495
PCI compliance fee: Variable
Equipment lease: 48 mos./non-cancellable

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-year automatically renewing contract with a $495 Early Termination Fee (ETF). It is unclear at the time of this update if the company also charges an annual or monthly PCI Compliance Fee. Merchants are encouraged to carefully read and understand their contracts before signing with with the company.

Crescent sales agents also appear to receive additional commissions for selling credit card terminal leases that may come with additional and expensive contracts. This reviewer advises to never lease processing hardware because it is the most expensive way to obtain it. Buy your equipment and shop around before purchasing it.

If you have any additional information about Crescent Processing’s fees or contract, please leave it in the comment section of this review.

[Related: Get quotes from a provider with “A” rated contract terms]

Crescent Processing Complaints & Service | D

Key Points – Complaints & Service
Total complaints: 90+
Live customer support: Yes
Most common complaint: Hidden fees

For a provider of its size and time in business, Crescent Processing Company has a high number of complaints. In particular, there are many complaints about the company posted by former sales agents on Ripoff Report. The common themes among the merchant complaints are claims of higher-than-quoted processing fees and other unexpected/undisclosed fees, and that agents failed to disclose a $495 cancellation fee in connection with a three- to four-year auto-renewing contract. Several merchants have also reported that Crescent continued to debit fees even after the account was cancelled.

A few reviews 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 | F (CPO Adjusted)

Key Points – BBB Report
Product/service: 137
Billing/collection: 86
Advertising/sales: 64
Guarantee/warranty: 0
Delivery: 1

As of this review, Crescent Processing Company is not accredited with the Better Business Bureau (BBB) and has had its profile relabeled under the name Future Payment Technologies. Additionally, the BBB is reporting 288 complaints filed in the last 36 months against the company (down slightly from 311 as of our last update). Yet, inexplicably, the BBB is awarding Crescent an “A“ rating. Of the 311 complaints, 137 are regarding service problems, 86 with billing and collection disputes, and 64 with advertising and sales issues. Of the total, 48 were not resolved to the merchant’s satisfaction, and four were not resolved at all. Based on the amount of complaints and the fact that some have gone completely unresolved, we are adjusting the rating to a “F” 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, unfavorable underwriting policies, and high complaint count. The company 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.

Leave your review of Crescent Processing in the comment section below:


Crescent Processing Company Review

Rated 1 Out of 5 Stars
Reviewed by Phillip Parker
Reviewed on 2014-06-24 13:23:23

UPDATED: June 24, 2014 – We’ve located roughly 400 negative Crescent Processing reviews on various consumer protection websites. Crescent Processing (crescentprocessing.com), which now goes by the name Future Payment Technologies, rates poorly as a merchant account provider due to… Learn more in this Crescent Processing Company review.

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About the author

Phillip Parker

Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded CardPaymentOptions.com to help merchants enact positive change in the credit card processing industry.



 
Phillip can help you find an ethical and honest processor that will offer you great rates. Click here to request a free provider consultation.

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58 comments

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  1. Barbara Hansen

    I have been with crescent a couple of years now and I recently noticed a $25 minimum balance fee under the details section of their website. I called Crescent Processing aka Future Payment Technologies from my work phone. At first I was put on a musical hold for approximately 10 minutes after pressing all the correct buttons to get to the right department. Then someone picked up and hung up the phone to disconnect the call. I tried a second time and they did the same thing. While on their musical hold a third time, I picked up my cell phone and placed a call, was on hold for about 10 minutes and then I was connected to a live person. All this while still on hold on my landline work phone. Hmmmm. I inquired about this fee which I could only see going back 1 year and they said that you need to charge a minimum balance of $1500 per month. I explained to them that I do meet the requirement except for a few months a year due to the seasonality of the business. He went back 2 years and noticed the fee each month and agreed with me that I was wrongfully charged. I received a refund of $133.22 out of at least $400.00. When asked about this I was told on page 10 of my contract, it states that they only have to refund up to 3 months. I am a bookkeeper by trade and I referred a client of mine. I reviewed his account just recently and found the exact same charge! I filed a complaint with the BBB and am waiting to hear. I am going to file a complaint with the Ripoff Report too. and will go further if necessary.

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  2. Betsy

    Crescent would not let me cancel contract as sales agent promised for the first month of contract and he didn’t tell me the contract was for 4 years. then when I closed business it was time consumming to getthem to close my contract and they kept charging me monthly fees after my account was closed andI had to keep called them and sending bsuiness licensed cancellation. They still made up reasons where I still had to pay after all that for this or that reason. They are out for every penny they can get out of you.

    Did you find this review helpful? Yes   No

    4 / 4 found this review helpful.
  3. Paul Keith

    Worst company ever! it took over a year to get account cancelled and then after finally getting it cancelled they stole close to $1000.00 out of my account through unauthorized ach service, and refused to return money. I am now having to sue for return of funds.

    Did you find this review helpful? Yes   No

    7 / 7 found this review helpful.
  4. Robert

    Do not hire this company for credit card services or any other service. They are a bunch of trained liars, scammers. Horrible company they deserve no respect They said I had a 2yr contract so when my 2yrs were up I called to cancel and they told me I had a 4yr contract. SCAM SACM SCAM

    Did you find this review helpful? Yes   No

    4 / 5 found this review helpful.
  5. Rodney Gibson

    Crescent is my third credit card processing company. The fee structure is deceptive and the customer service folks clearly lack math skills appropriate for reviewing a statement with you. My 1.79% rate is actually 2.2% which is higher than American Express for God’s sake.

    My biggest problem is that deposits on credit and debit cards are held for 2 – 3 business days before they show up in our bank account.

    One of the problems is their unwillingness to give you a copy of the contract to review. They claim they can’t give you one until you sign up with them. I think this is illegal in most states. Got one from a friend and read it. It is as bad as the other two processors I used except their other guys customer service was much better.

    Recommendation: Don’t expect these guys to be a better deal than anyone else. They are all bad and too expensive. Take cash and checks when you can.

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    3 / 3 found this review helpful.
  6. nat

    This company is soooo bad that they have now changed their name to Future Paytech..They charge you one rate and then double it and then triple it….BAD BAD BAD

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    4 / 4 found this review helpful.
    1. Rosemary

      Wow, so this dreadful company has now changed its name to further thwart future unsuspecting new businesses into getting signed up.
      I recently sold my business but I experienced similar unscrupulous dealings with them.
      What a nightmare that was!
      Rosemary DeHart

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      4 / 5 found this review helpful.
    2. nat

      Does anyone has the answer on how to get out of this mess???

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      1 / 2 found this review helpful.
      1. rich

        Nat – I recently signed with Future Payment Technologies (FPT). Before signing I spoke to Justin Holden (some sort of manager) and made it clear that I would agree to only 2 yrs. After receiving the so called 22 page agreement I was in a 4 yr agreement. Justin emailed me a correction for a 2 yr term with a free cc terminal. About 40 days later boy was I shocked to see that the “SNAKE” Northern Leasing Systems had debited my acct for $88. Now the “SNAKE” said I am locked into a 4 yr non-cancelable contact and is trying to collect equipment lease fees for equipment I do not have nor ever agreed to. FPT either gave or sold my personal information to this DEMONIC company.

        This is what I have done since that took place on 2 Dec 2013. I filed a report with my local sheriffs office, filed a complaint with the Idaho, New York & Texas BBB’s, filed a complaint with the Idaho, New York & Texas Attorney Generals, filed a complaint with the FBI, IC3 Division and filed a complaint with the Federal Trade Commission. I have also retained an attorney in New York where the “SNAKE” company does business. If your up to it log into RipoffReport.com and complain so others hear your story. Lets collectively put these LEACHES out of business. United we can make a difference!

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        5 / 6 found this review helpful.

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