Solveras Payment Solutions Review

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How did they treat you? ▼

UPDATE 12/24/2018: Solveras Payment Solutions was acquired by TransFirst in 2011. Solveras functioned as a sales division of TransFirst for a period of time, but it now appears to have been fully absorbed into the TransFirst brand.

Solveras Payment Solutions (solveras.com) is a Franklin, Tennessee-based merchant services provider that opened its doors in 2000, was acquired by TransFirst in 2011, and has since become a sales division for the company. Solveras primarily markets credit card processing and debit card processing services as well as remote deposit capture services to allow businesses to make check deposits from their location, rather than going to the bank. Additionally, the company offers a branded payment gateway and virtual terminal called “Solveras SmartPay.”

Since our last update, the Better Business Bureau has merged the report for Solveras into the report for Transfirst. See our Transfirst Review to get more details about its BBB rating. Outside of the BBB, this reviewer was able to uncover only one other valid complaint against Solveras' credit card processing services or any of its other payment systems; however there are a few complaints listed in the comment section of this review that are worth reading. It is also likely that most, if any, complaints that would originally have been filed under Solveras are now getting attributed to TransFirst.

Solveras is a registered ISO/MSP of First National Bank of Omaha of Omaha, Nebraska, and of Merrick Bank of South Jordan, Utah.

Solveras Payment Solutions Customer Reviews

Here's What Their Clients Say

See our TransFirst review.

Solveras Payment Solutions Online Ratings

Here's How They Rate Online

See our TransFirst review.

Solveras Payment Solutions Fees, Rates & Costs

A Closer Look at The Contract

See our TransFirst review.

Solveras Payment Solutions Employee Reviews & Sales Tacitcs

Should You Work For Them?

See our TransFirst review.

Our Solveras Payment Solutions Review Summary

Our Final Thoughts

See our TransFirst review.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Solveras Payment Solutions Treat You?

9 User Reviews

  • Greg Johnson

    This company is horrible. Shut down our account. Transferred around customer service to 4 different people when trying to sort out. Got hung up on. Called again, sent through the same route. I honestly do not think they know what they do there. And if you look at their website: http://www.spsgateway.com you will notice it is not a professional site. It has not information about who they are or any proof that it is a secure line etc……

    Do not use this company.

  • Rusty

    DO NOT USE THIS COMPANY! There processing is terrible. They promised they would process items in 3-5 business days. It is not true they have never processed any item in 3-5 business days. It consistently takes over 5 business days. I have customers submitting payments on the 2nd of the month and I do not receive payments until the 11th or 12th day of the month. DO NOT USE SOLVERAS!

  • Thomas G. Duke CEO

    MY AUTO FINANCE COMPANY IS MISSING UPWARDS TO $20,000.00 AS A RESULT OF “SOLVERAS” AND THEIR “AUTOMATIC PROCESSING”. I CONTACTED THEM MULTIPLE TIMES REQUESTING OUR MONEY BUT AS OF NOW IT LOOKS LIKE WE WILL NEVER GET IT UNLESS WE HIRE AN ATTORNEY IN TENNESSEE TO PURSUE IT THROUGH THE COURT SYSTEM. BEWARE OF SOLVERAS!!!!

    As an auto finance lender we had the idea of offering the “automatic payment processing” to our customers as an easier choice for them to make their car payments. We eventually chose Solveras as the provider to do this in or around the beginning of 2010″ From the start things seemed to go well. We were processing over $100k per month in payments but within the a few months all of a sudden our accounting department noticed that we were missing over $30k in payments and it had been happening over the 5-6 weeks prior. Once we were aware of the missing funds we immediately contacted Solveras. We were advised that our account had been “frozen” because we were processing more than normal amounts of funds and that in order for our funds to be released we would have to prove that several of the transactions were valid. Solveras told us that they needed to contact OUR customers and verify that the transactions were valid. (By the way, when we initially set up the account we advised Solveras that we would be processing over $100k per month and that it would gradually rise thereafter) Of course we were VERY unhappy that we were being forced to give Solveras contact information for OUR customers but we had no choice. After giving the contact info to Solveras it took over 1 week for them to do the verifications they needed before they agreed to start releasing our funds. Once the verifications were completed they started releasing “some” funds but the “majority” of funds were held as “pending” in their software and instead of forwarding these funds to us SOLVERAS released the funds back to the customers. From this action it caused over 25 car loans to go into default and the customers overall just thought they had extra money in their bank account to spend. (These are sub-prime car loans) Of course the majority of these customers could not pay 4 car payments that were past due all at once after spending the extra money they thought they had in their bank accounts and the result of this was OVER 25 DEFAULTED CAR LOANS that equaled around $200,000.00 total. As a company the only option we had was to “FORGIVE” the past due payments and just let the customers continue making the payments that they could make going forward. At that point our company was out over $20,000.00 AND SOLVERAS cared nothing about making it right……The words that I (the CEO) was told by the Execs at Solveras was that they couldnt help me and that I would have to figure out how to solve the problem myself.
    We immediately started removing our accounts from the Solveras system and changed to a different company for our processing. Solveras continued to bill us monthly fees and would not allow us out of our contract until we eventually paid a large cancellation fee 1 year later.

    THIS ALL HAPPENED WITHIN A FEW MONTHS OF SIGNING UP WITH SOLVERAS. THE RESULT OF OUR CHOICE TO USE THIS COMPANY COST US $20K….

    Thomas G. Duke CEO

  • Bill Belanger

    I called to cancel my account with these people in February. Apparently the customer service person did not direct me to the right “department” and Solveras continued to charge my account. That’s stealing

  • Angela Hamm

    Addressing Zach, I read you comment and just could not help myself but reply to you. I used to work for Solveras as an merchant installer /trainer and I am sorry about the experience you had with support. Anyone at Solveras that see this knows who I am and knows I will tell you like it is. We had a 5 team support for ACH and that handled both tech issues and transaction issues, so that is why it went to voice mail. I do not know why it took them soooo long to tell you what the deal was , that is a valid complaint to me. You should be upset over that even though I know you are not going to like the answer to your issue. Wish I had got your call to tell ya the truth. But I didn’t work in support. Keep in mind I no longer at this point work for them due to a merger however in saying that it is clear you were not informed about how ACH works when processing a check. I have away cared about you merchants and my goal was to always educate you so you didn’t experience loss or confusion. I want you to make money not loss it . You make money and than we make money that business 101. What product were you using, was it the Ach product through one of the gateways online? IF you had a check in hand ( hand written out) and entered it ONLINE through our gateway , first off that is NOT how the product is used. IT is a BIG NO NO. The rules are that you can take a voided check to enter but not a REAL check written out. The reason is because you could run it through the gateway than turn around and deposit it and charge you customer twice. If a merchant is doing this the account can be closed. This type program per rules of ACH are the following, IF a customer decides to stop a payment or change their mind , even after you have cashed it , they can “CHARGE YOU BACK ” for it. Ask you personal bank about this in regards. At that point it is between you and the bank that issued the check, just like with credit cards, if a customer charges you back for a credit card transaction, at that point it is between you and the bank that issued the credit card. it is a very unregulated process and you need to ( as do other merchants) file with law makers to get things change with in the rules to protect you. Visa and MasterCard have been working hard to change this in credit card processing however in the ACH or echeck world things are not there yet. Sadly it was not Solveras but the rules. ALL PROCESSORS ( not just Solveras) hands are tied on charge backs that come through on both ACH and credit card processing. BE for warned of this. I would advise for future reference to not use the ACH or e-check processing product and just deposit you checks in the bank. I am not sure what you business type is or the volume of checks you receive but it sound like this is not a good product for you. In say that I can say there are other products out there where you can scan a written check and it deposits for you at your bank, not sure what company to advise you to check out in regards to finding this product but I know it is out there. But keep in mind the same rules apply regardless. Solveras used to offer it but we didn’t have a lot of merchants wanting it to justify keeping the product to offer. GOOD LUCK and I hope you never have those issues again with what every processor you go with. I hope this was helpful to whom ever see it. IF you have any more question in regards to processing please let me know I would happy to advise you.

  • Zach South

    Don’t use this company unless you want your money taken away from you. We processed a check for 6k, got the money…and then 1 month later Solveras took it away…stating that the client requested the money back!!! WHAT!! THEY SENT US A CHECK…HOW IS THIS POSSIBLE? Well Solveras, basically gave me the finger and told me to eat it. I am now out 6k because of their company.

    On top of that their Customer Service reps suck. [Names omitted] are idiots. Took them over 1 month for them to tell me I have no recourse for the 6k they took from us……

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