Quantum Merchant Services Reviews & Complaints
Overview
In this comprehensive review, we delve into Quantum Merchant Services. We'll explore various aspects of their services, including their reselling of standard First Data (now Fiserv) contracts and Clover POS solutions, as well as their integration with modern payment methods like Apple Pay. Key topics include a detailed examination of their rates and fees, contract terms, and the nature of common complaints they face. We'll assess Quantum Merchant Services from multiple perspectives, covering industry ratings, employee reviews, and marketing tactics. User experiences also play a crucial role, with insights into how the company processes payments across various platforms – POS systems, online payment processing, mobile solutions, and additional merchant services.
This article aims to provide a well-rounded view of Quantum Merchant Services, highlighting its pros and cons, customer reviews, legal standings, and customer support quality. By scrutinizing their fee structures and comparing them with industry standards, we seek to offer a transparent and insightful look into Quantum Merchant Services, helping businesses make informed decisions about their merchant services provider.
About Quantum Merchant Services
A DBA of Universal Power Marketing, LLC, Quantum Merchant Services is a merchant account company that began operations in 1994, and it resells standard First Data (now Fiserv) contracts along with Clover as a POS solution. Additionally, the company advertises its Apple Pay integration services.
Quantum Merchant Services Payment Processing
Quantum Merchant Services processes all major debit and credit cards for most business types. Their services include POS solutions, EMV card readers and swipers, mobile payments, MOTO, and e-commerce solutions.
Quantum Merchant Services: Point of Sale Systems
Quantum Merchant Services provides point-of-sale (POS) systems to businesses. These systems process transactions in a physical retail environment while managing and tracking sales and inventory.
Quantum Merchant Services: Online Payment Processing
Online payment processing services are offered by Quantum Merchant Services for businesses operating in the digital space. The company's system is designed to integrate with an online store for secure internet transactions.
Quantum Merchant Services: Mobile Payment Solutions
Mobile payment solutions from Quantum Merchant Services allow businesses to accept payments through mobile devices. This service offers flexibility in processing transactions across different locations and scenarios.
Quantum Merchant Services: Additional Merchant Services
In addition to its primary payment processing services, Quantum Merchant Services provides other merchant services, which may include check processing services, gift and loyalty card programs, and merchant cash advances. These services give businesses a well-rounded suite of payment processing solutions.
Location & Ownership
Quantum Merchant Services is a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, California. Rob Olson is listed as the owner and CEO of Quantum Merchant Services, and the company is headquartered at 7250 Hudson Blvd N. Suite 210, Oakdale, MN.
| Pros: | Cons: |
|---|---|
| Excellent customer service | Fee for small transactions |
| Reduced processing costs | Higher-than-average costs |
| Lower charge-back fees | Equipment lease concerns |
| Less fraud opportunity | Unclear fee disclosure |
| Quick, easy use | No in-house fraud protection |
| Secure transactions | Requires own merchant account |
| Mobile payment option | High fees on some plans |
| Wide service range | Complaints about billing practices |
| Competitive pricing | Potential customer service issues |
| Easy setup | Chargeback handling required |
Quantum Merchant Services Customer Reviews
Here's What Their Clients Say
| Total Online Complaints | <10 |
|---|---|
| Live Customer Support | Yes |
| Most Common Complaint | N/A |
| Recent Lawsuits | No |
Low Overall Complaint Total
We have identified a few negative reviews of Quantum Merchant Services on various consumer protection forums, with some customers alleging the company as a ripoff. Complaints mainly revolve around hidden fees, undisclosed terms, and subpar service quality. If you have your own feedback on Quantum Merchant Services, please share it in the comments below.
Quantum Merchant Services Legal Involvement
No significant class-action lawsuits or FTC complaints have been found against Quantum Merchant Services. Clients seeking non-litigious resolutions with the company are advised to consider reporting any concerns to the relevant supervisory organizations.
Quantum Merchant Services Customer Support Options
Quantum’s website does not appear to have a dedicated support line or email address listed, although a general phone number is provided. The limited number of complaints against this company suggests a responsive customer service department, but it is possible that customer support may be handled by First Data (Fiserv), potentially leading to the bulk of complaints being directed at First Data rather than Quantum.
Quantum Merchant Services Customer Service Number
- (800) 815-3123 – Toll-Free Customer Support
Other Support Options
- Customer support form
- Live chat
While Quantum Merchant Services’ support options may not qualify it as a top-rated merchant account provider for customer service, the low number of complaints indicates a responsive customer service department.
Quantum Merchant Services Online Ratings
Here's How They Rate Online
| BBB Reports | 19 |
|---|
No Complaints
Quantum Merchant Services has an “A+” rating and has been accredited by the Better Business Bureau since 2001. The company has received 0 complaints in the last 36 months.
What Merchants Say
Quantum Merchant Services has received 19 informal reviews, and all 19 are positive, but it should be noted that the BBB does not verify informal reviews for authenticity like it does with complaints. A previous negative review was from a merchant who described shady practices used by a Quantum representative:
One of Quantum’s reps signed us up. Then a few months down the line, the machine was not working correctly and we asked for a replacement. The same rep came back and switched the machine out but unbeknownst to us, he signed us up with another company he was also working with. Joshua Rudrud called us from Quantum and let us know what their rep was doing and sure enough the machine that he switched it to was from another provider. They encouraged us to call the police and file a complaint against the rep. The other company let us out of the contract with no fees due to all of this however Quantum refuses to let us out of the contract with no fees. We explained that we do not trust them as a provider as our security and that of our customers was compromised by using the said rep, as he forged paperwork and we were being double charged. Joshua was not responding back to my emails about charges and then when I called to request to be let out of the contract with no fees he said they would continue charging us monthly unless we want to break the contract and pay the fees. We should not have to go to these lengths to be let out of a contract with such a situation happening. I wouldn’t trust doing business with this company.
In a similar manner to the previously mentioned conversation with owner/CEO Rob Olson, there is a response from Quantum to this review and a further response from the client, which we’ve listed below:
Quantum:
This INDEPENDENT agent hadn’t worked for our company for over two years when he went back in and signed them up with his new company. This merchant was attempting to get out of their signed contract. We were not able to pay their fees for them so they retaliated with this complaint against our company for what a FORMER agent (who they admitted was working for a different company) had done. This is an unfair complaint against us complaining about someone unrelated to our business.
Merchant:
This is untrue and quite insulting that the CEO Rob ***** would go to these lengths to write this response knowingly that it is indeed very true. This is a fair and factual review and we have everything document indicating that this person was indeed one of their contracted employees at the time. As a matter of fact they were the ones that brought it to our attention when they discovered he was doing that to several of their customers. Rob ***** the CEO of the company reached out to us a couple of weeks ago asking to let us out of the contract with no fees as he stated that he wasn’t aware that we had asked to be let out of our contract. After we advised we would think about it, discuss it with the owner and get back with him, he requested that he would also like us to delete this negative review and “if we found it in our heart” to give him a 5 star review since he was being so nice letting us out of our contract. We again advised we would discuss and let him know. In the meantime he kept calling us repeatedly even though we were very forthcoming that we hadn’t gotten around to this and the least he could do was to be patient, when he didn’t reach out to us for 8 months until it was convenient for him due to this potential customer walking away. Since we didn’t get a chance to delete this review as the owner of our company was away, he retaliated by writing a false review about our company and giving us a 1 star rating, when he is in another state and has never been a customer of ours or even stepped a foot in our establishment. Please feel free to go to our profile to see his 1 star review. You will also see that the only reason he is responding to this stating we are “retaliating” is simply because we said that’s what he was doing on our response to his review. At this point we cannot recommend this company even more after these recent events. We have reached out to the BBB to start a formal complaint against them. We are currently awaiting to hear back on what the process is not renew with them in February of 2021.
Clover’s POS options offer a multitude of solutions for businesses. However, these terminals often enforce terms and conditions that may not be necessary for a client’s needs.
Adjusted Rating
Given Quantum Merchant Services’ low complaint total, we would normally award them an “A” in this section; however, the one negative review is particularly troubling and in line with previous reports about owner/CEO Rob Olson. While responding to complaints is important, the behavior listed in this review is very concerning, so we have adjusted the BBB’s rating to a “B” at this time.
Quantum Merchant Services Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Yes |
|---|---|
| Monthly & Annual Fees | Yes |
| Processing Rates | Variable |
| Equipment Leasing | Yes |
Higher-Than-Average Costs
Based on the company’s merchant agreement, the standard contract offered by Quantum Merchant Services spans three years with a $445 early termination fee, a $159 setup fee, a $99 annual fee, a monthly minimum fee of $25, and a $10 statement fee. Although these terms are slightly pricier than industry averages, there might be room for negotiation depending on the agent setting up the account.
While the company’s merchant agreement does not specify sales rates, it indicates that they would be determined by each company’s sales volume. As a reseller of First Data (Fiserv), Quantum Merchant Services likely offers rates based on theirs. Under a typical First Data (Fiserv) contract, rates fluctuate according to a business’ sales volume. Merchants processing up to $50,000 monthly will incur a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. For clients surpassing $50,000 in monthly charges, a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19 apply.
Virtual Terminal and Payment Gateway Pricing
Apart from its in-store payment processing services, Quantum Merchant Services also showcases its virtual terminal and payment gateway services on its website. However, pricing for these services is not disclosed. The merchant agreement mentions a website setup fee of $799 and a $35 monthly domain hosting fee, which could pertain to a newly established virtual terminal service. Additionally, additional rates and fees, such as gateway fees, technical support fees, batch fees, and extra transaction rates, usually apply to these e-commerce services.
Beware Equipment Leases
There are indications that Quantum offers long-term, non-cancellable equipment leases from First Data Global Leasing and Northern Leasing Systems, two of the lowest-rated providers on CPO. Businesses are advised to only work with agents they trust and to thoroughly comprehend all potential fees before signing up.
We also encourage business owners to explore our list of the best merchant services.
Quantum Merchant Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | Yes |
|---|---|
| Telemarketing | Likely |
| Misleading Marketing | No |
| Discloses All Important Terms | No |
Potential Deception
Quantum seems to rely on traditional marketing to market its services, and it appears that the company hires independent sales agents across the country. There are a few negative Quantum Merchant Services reviews online that describe misrepresentation or nondisclosure by the company’s agents, specifically in relation to long-term, non-cancellable equipment lease terms through First Data Global Leasing.
This does not compare favorably to our list of best credit card processors.
A Detailed Sales Complaint
One of the most recent Quantum Merchant Services complaints details the nondisclosure of fees by the CEO:
The President lied about the costs, upfront fees and promised free point-of-sale equipment. When we did not open a Merchant Account with Quantum, he charged our business $445
I asked him more than once, “So these are all the charges we will be paying?”. “So you have no monthly add-on fees?”
When I told Rob Olson, who represented himself as the President of Quantum, I expressed my concern that there were fees that he did not disclose to me. His response was: “there was a lot of things that I didn’t tell you”
Later he explained in an email to me: “Our industry is VERY complex. I can’t explain EVERYTHING we have to offer or you fall asleep listening to it. ”
This was his excuse for not disclosing the fees.
As far as equipment, he promised two free card swipers and then, later on, was only willing to send one.
I am so happy that I caught his empty promises before opening an account. Be careful. He will charge your account anyway! $445.00
While Quantum Merchant Services reviews do not lead us to believe that the company’s services are a scam, transparency should be an important factor when selecting a merchant account.
Few Concerns
At the time of a previous update, the company’s website was displaying rate quotes that we considered to be deceptive “teaser” quotes, but it has since removed these. We are therefore awarding the company a “B” for this section, but if you suspect that you are being charged undisclosed Quantum Merchant Services fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Our Quantum Merchant Services Review Summary
Our Final Thoughts
Quantum Merchant Services is a reseller of First Data (Fiserv) credit card processing contracts with a relatively low complaint rate. The company’s contract terms are slightly more expensive than average for the industry, and Quantum’s customer support is likely provided by First Data. As always, business owners are advised to carefully examine the terms of any Quantum contract they are given to compare its costs to those of top-rated providers.
If you found this article helpful, please share it!
Walter
Agent Justin Ndiaye ripped me and my family off of thousands of dollars in “hidden fees” for credit card processing. I did research on him his real name is Moctar Ndiaye from Tampa. If you look him up on mugshots.com he has a lengthy arrest record from Grand theft to shoplifting. He’s a criminal, he should not be working with merchants with this kind of criminal history. Google Justin Ndiaye Tampa and you’ll see they have put him in the newspaper for defrauding a 75 year old elderly woman. Theif, what he has done to my business is completely out of line.
David Hart
Quantam Merchant Services is best company I have ever worked with!!!!
Excellent customer service from Rob and Brianna always friendly to deal with.
If you are ineed of building a website this is the best place to go!!!!
I would highly recommend this company to any bussiness owner!!!!
Thank you very much for taking care of me and my business!!!!
David H.
Terrance Oliver
I have worked with Quantum for many years. They saved me a lot of money. I’m happy with them.
Phillip CPO
Hello, please reply within this comment thread with your business name, location, and/or website address to authenticate your testimonial.
Angie
While quantum saved my client a lot of money on the monthly service, the card readers and processing are not working properly. The sales rep says it’s not his issue, and the customer service is so poor they say they can’t fix it. Now they are stuck in a contract we have to try to find a way out of. Find someone else.
Adam
Quantum has third party agents that calls them self vice president or president of the company,, but there are really a third company,, I live in Tampa, fl. And my family owns a small family restaurant, , , Quatum third party agent shut up to my family’s restaurant offering us lower rates and offered us to cancel our old contract… they did lower our rates soon enough those rates did climb and what it comes to find out after 3 months the agent never cancelled our old company,,so they’re on me and my family lost over $4000 because both companies were taking money out of our checking account after they promised us over and over that they were going to cancel the old company but never did…after contacting quantum and speaking to someone named Julio he told me that that is impossible and that they would never promised that they were going to cancel the old company so therefore I had to take it at my own to cancel both companies and to cancel my checking accounts which caused a huge mess..the only thing quantum offered to pay me 300 dollars just to sign with them again and after Mike me and my family lost four thousand dollars, ,,now me and my family’s credit is ruined and I’m getting creditors calling me every single day and there’s nothing I could do about itI will never sign with quantum or Northern leasing…northern leasing is the bank the quantum deals with they have over six hundred and eighty lawsuits nationwide against them for crimes just as this…if there’s anyone out there please help me and my family we’re in debt for over $4000 in quantum has nothing to say,, the agent name is Justin Ndiaye,, thieft
Floral Magic Creations LLC
Very Unhappy with their service. They put the wrong Name on our credit card printer and our customers have to call their credit card company to find out who The Photographers are.
We have contacted them many times to fix it and they will not return a phone call or an email.
Sounds like breach of contract don’t you think.