Veracity Payment Solutions
Veracity Payment Solutions Overview
Veracity Payment Solutions (veracitypayments.com) is an Atlanta-based merchant account provider that began operations in 2006. The company is possibly owned by, or is a subsidiary of, Direct Payment Solutions, a company that specializes in developing electronic payment technologies. Regardless of its ownership, though, Veracity processes its payments through the TSYS processing network. This reviewer’s request for additional information about Veracity Payment Solutions and its business practices went unanswered by the company, both through phone calls and emails to the marketing department. As a result, we resorted to calling sales agents to obtain more information; however, many seemed to lack intimate knowledge of the business itself.
From the information that we could gather, Veracity Payment Solutions appears to be a smaller company with about 20-50 employees and specializes in providing credit card processing services to retailers, restaurants, and mail/telephone order businesses.
Veracity Payments Sales & Marketing Tactics | A+
Veracity Payment Solutions markets its credit card processing services in several different ways. These methods include partnering with community banks and trade associations, and hiring inside sales agents as well as outside independent sales agents.
The utilization of independent sales agents would normally lower a provider’s rating, but Veracity appears to avoid most of the negative results of doing so. Additionally, Veracity does not appear to use any other misleading sales tactics or marketing.
Veracity Payments Costs & Contract Terms | A+
According to the agents with which we spoke, Veracity Payment Solutions offers month-to-month contracts with no cancellation fees. Processing rates and fees appear to vary by merchant processing volume and equipment needs. We were not able to obtain a merchant account agreement as of this review, so merchants are advised to thoroughly read and understand the terms of their Veracity merchant account agreement before signing. If you have any further information regarding Veracity’s merchant account agreement or fees, please leave it in the comment section below.
Veracity Payments Complaints & Service | A
Veracity Payment Solutions appears to have only two public negative reviews. In the first review, a former agent complained of a bad experience in his employment, but the content of the complaint does not appear to indicate any widespread issues. The second complaint is from a longtime customer who was disappointed that Veracity charged them for terminal replacement following an equipment failure. Although Veracity did not appear to provide exceptional service for the second complainant, neither complaint indicates that Veracity has a major problem with customer service. Therefore, we will not dock Veracity’s score in this section. Veracity lists both phone and email support information on its website.
Veracity Payments BBB Report | A+
Veracity Payments Solutions has been accredited with the Better Business Bureau (BBB) since early 2008. As of this review, the BBB is reporting one complaint within the last 36 months and is showing an “A+” rating for the company. This complaint was filed in reaction to a billing or collection dispute and was resolved to the merchant’s satisfaction. Given this information, we agree with the BBB’s rating of “A+.”
Veracity Payment Solutions appears to be an excellent merchant services provider and has maintained high marks since our previous update. Since we were not provided a merchant account agreement prior to the publishing of this review, it is recommended that you fully read and understand your merchant account agreement before signing.
Leave your review for Veracity Payment Solutions in the comment section below.
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