Prodigy Payment Systems
Prodigy Payment Systems Overview
Prodigy Payment Systems (prodigypay.com) is an alternate business name of Encore Payment Systems. The company is based out of Addison, Texas, and was founded in 2004. Prodigy Payment’s overall rating is based on our Encore Payment Systems review.
Along with Momentum Payment Systems, Prodigy Payment Systems appears to have been created for the sole purpose of absorbing complaints that would otherwise have been filed against Encore Payments Systems. The services offered by these three entities do no appear to vary in any significant way, and they are all headquartered at the same address.
This section is covered in the Encore Payment review.
- Ethically questionable marketing
- Use of multiple business names
- “Hiring mill” recruiting strategy of Independent Sales Agents (ISAs)
- 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
Prodigy Payment uses the same merchant account agreement as Encore. An older version is available below. Merchants have reported even more expensive contract terms than those shown in the linked document.
- Pricing will vary by merchant based on business type and sales agent.
- Standard contract includes 3-year service agreement
- Early Termination Fee (ETF) of $195 but some merchants have reported ETFs of $450 or more
- Equipment leases often have a four-year commitment and cannot be cancelled without paying the full lease amount, often in the thousands of dollars (leasing equipment is optional)
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.
Prodigy Payment Systems has its own Better Business Bureau (BBB) report. As of this review, the company is not accredited with the BBB and has a “C-” rating. The BBB is reporting 77 complaints filed in the last 36 months (up from 76 as of our last review); however, there are 180 complaints when combining all the known DBAs together. Please see the Encore Payment Systems review for full details on this company’s BBB complaints. Based on the 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.
Prodigy Payment Systems rates very poorly as a merchant services provider due to its deceptive sales practices, its poor customer service reviews, its expensive contract terms, and its negatively trending BBB report. For a full understanding of Prodigy Payment Systems, please visit the Encore Payment Systems review.
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