Momentum Payment Systems
Momentum Payment Systems Overview
Momentum Payment Systems appears to be a relatively new alternate business name of Encore Payment Systems. Momentum is based out of Kingwood, Texas and Encore out of Addison, Texas. Encore was founded in 2004. Momentum Payment’s overall rating is based on our Encore Payment Systems review.
Also see our reviews of this company’s other known DBAs:
Momentum Payment Systems Sales & Marketing Tactics | D
This section is covered in the Encore Payment review.
- Ethically questionable marketing tactics.
- Use of multiple business names/DBAs.
- “Hiring mill” recruiting strategy of Independent Sales Agents (ISAs) with high turnover.
- Agents appear to receive higher commissions for selling expensive contracts and rates.
- Underwriting policies allow for excessive fees and contract terms.
- Markets expensive and non-cancellable equipment leases.
Momentum Payment Systems Costs & Contract Terms | D
Momentum Payment uses the same merchant account agreement as Encore.
- Pricing will vary by merchant based on business type and sales agent.
- Standard contract includes 3-year service agreement
- Early Termination Fee (ETF) of $250 but some merchants have reported ETFs of $450
- Equipement leases often have a 4-year commitment and cannot be cancelled without paying the full lease amount, often in the thousands of dollars (leasing equipment is optional).
Momentum Payment Systems Complaints & Service | D
This section is covered in the Encore Review.
- Company has received a moderate-to-high number of complaints for time in business.
- Numerous complaints have been filed by former employees and agents.
- Common complaints include expensive and non-cancellable equipment leases, and undisclosed/”hidden” fees.
Momentum Payment Systems BBB Report | D (CPO Adjusted)
Momentum Payment Systems has its own Better Business Bureau report. As of this review, the company is not accredited with the BBB and has a “B” rating. The BBB is reporting 5 complaints filed in the last 36 months; however, please see the Encore Payment Systems review for full details on this company’s complaints. Based on Encore’s complaint count and resolution ratio, 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.
For a full understanding of Momentum Payment Systems, please visit the Encore Payment Systems review.
- Best Merchant Account Providers
- Compare Rates and Fees
- Best Credit Card Processing Apps: iPhone | Android
- How to Get Out of a Merchant Account Contract
- Why Credit Card Processors Hold Funds
- How to Report Bad Merchant Account Providers
- How to Get the Services You Need Without Getting Scammed
|Top Providers By Specialty|
|General Processing (Retail, etc.)|
Getting paid to re-write this page? Click here to earn a reward.
Copyright © CardPaymentOptions.com (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608)