American Merchants Inc. 2023: Reviews & Complaints
Founded in 2012, American Merchants Inc. is a merchant account provider that serves most standard-risk business types in the U.S. The company is a reseller of First Data (now Fiserv) products and services.
American Merchants Inc. Payment Processing
American Merchants Inc. processes most major credit and debit cards for most business types. Their services include virtual terminals, access to a payment gateway, POS systems from Clover, mobile solutions, PCI compliance, tokenization, card swipers, and Level 2 B2B processing.
Point of Sale Systems and Equipment
The company offers advanced point of sale (POS) systems and equipment tailored to various business types, from retail stores to restaurants. Their POS solutions not only handle transactions but also help manage inventory, track sales, and analyze customer behavior, thus providing businesses with valuable insights.
For online businesses, American Merchants Inc. provides secure e-commerce solutions. Its payment gateway integrates seamlessly with various e-commerce platforms, facilitating smooth and secure online transactions. It supports shopping carts and enables recurring payments, making it easier for businesses to manage subscriptions or installment payments.
Security and Fraud Protection
Security is a priority for American Merchants Inc. It ensures secure transactions with its PCI compliant systems, safeguarding sensitive customer data. The company also offers robust fraud prevention tools to protect businesses from fraudulent transactions and chargebacks.
Transparent Pricing Model
American Merchants Inc. adopts a transparent pricing model. It discloses all its fees upfront, so there are no hidden charges, which is a plus for businesses wanting to manage their finances effectively.
Location & Ownership
Some third-party sources list the company’s address in Studio City, California, but its business registration with the state of California lists an address at 2219 W Olive Ave, Suite 106, Burbank, California. American Merchants Inc. is a registered ISO of Wells Fargo Bank, NA, Concord, CA; and Fifth Third Bank, N.A. Cincinnati, OH, US. Jumesh Walia is the CEO of American Merchants Inc.
Table of Contents
- Costs & Contract: Offers a three-year contract through First Data (Fiserv) with an early termination fee of…
- Complaints & Service: Has received fewer than 10 public complaints about…
- BBB Rating: Does not have a profile with the Better Business Bureau at this time.
- Sales & Marketing: Does not appear to hire independent sales representatives and has not received any complaints regarding…
American Merchants Inc. Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
No Merchant Complaints
We are unable to locate any negative American Merchants Inc. reviews, and there is no evidence that the company is a scam or a ripoff. It is possible that the company’s generic-sounding name has resulted in merchants filing complaints under the wrong name, but there are no close-sounding complaints that seem to actually refer to American Merchants Inc. If you have your own American Merchants Inc. review to make, please do so in the comments below.
American Merchants Inc. Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against American Merchants Inc. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
American Merchants Inc. Customer Support Options
This clean complaint record is enviable for a company that has been active for more than eight years, and it appears that American Merchants Inc.’s customer support team is able to resolve most issues in-house. The company offers phone and email support to all of its merchants, but these channels are not enough to qualify it as a top-rated merchant account provider for customer service.
American Merchants Inc. Customer Service Number
- (855) 658-9548 – General Support
American Merchants Inc. Online Ratings
Here's How They Rate Online
No BBB Profile
The Better Business Bureau does not maintain a profile for American Merchants Inc. at this time. We therefore will not factor a BBB rating into this review.
American Merchants Inc. Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
The standard American Merchants Inc. contract is a three-year agreement through First Data (Fiserv). Though the agreement does not specify rates or transaction fees, those likely resemble those of First Data (Fiserv) since American Merchants Inc. is a reseller of their services. However, resellers do reserve the right to alter the terms and conditions of a typical First Data (Fiserv) contract.
First Data (Fiserv) offers a wide variety of contract terms and pricing plans, but its standard agreement is typically a multi-year contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Businesses that process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Businesses whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19. Another facet of these contracts are non-cancellable, long-term equipment leases through First Data Global Leasing.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, American Merchants Inc. also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Avoid Equipment Leases
Based on the available documentation, the company appears to offer industry-standard contract terms. Although the amount of its early termination fee isn’t listed in the program guide, it is probable that an ETF of some amount exists. In addition, the built-in equipment lease through First Data Global Leasing is a long-term, non-cancellable agreement that may outlast the duration of the actual merchant account agreement. In general, we do not advise business owners to sign long-term equipment leases if they can afford to buy the equipment outright. It should be noted that most credit card terminals can be purchased for under $500. To reflect this, we have lowered the company’s score in this section slightly to a “B.”
American Merchants Inc. Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
American Merchants Inc. appears to primarily market its services via traditional advertising and strategic partnerships. There is no evidence at this time that the company employs independently contracted sales agents, but it is also entirely possible that it does. We cannot find any American Merchants Inc. reviews that describe unethical conduct by the company’s sales agents, which is a positive sign.
The “Compare Rates” page on the American Merchants Inc. website features a table that quotes “Rates as low as .89%” and “Rates as low as 1.89%.” We typically consider this type of rate quoting to be deceptive because it could give clients an unrealistic expectation of the rates they will pay. However, the page at least partially explains that rates will vary according to the specifics of each business. We will therefore not lower the company’s score in this section, but caution merchants not to expect effective rates anywhere near those advertised. If you suspect that American Merchants Inc. is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden costs.
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