APS Payments Pricing
A representative from APS Payments mentioned that their standard agreement involves a three-year term with TSYS, but they also offer flexibility in contract duration. For context, TSYS typically has rates around a swiped rate of 2.5% plus $0.20 and a keyed rate of 3.5% plus $0.20. Additionally, a standard TSYS contract usually comes with a PCI compliance fee of $18.80 charged on a quarterly basis.
APS Payments Cancellation Policy
The APS Payments team also clarified that they do not impose early termination fees (ETF) if a business owner ceases operations, transfers ownership, or if APS Payments is given the opportunity to meet or beat a competitor’s rates. Essentially, an ETF may only be applied if a business terminates the service prematurely without allowing APS Payments to match a competing offer. Typically, TSYS contracts include an ETF of $295, subject to enforcement at the company’s discretion.
Early Termination Fee Complaints
Previously, a Better Business Bureau complaint regarding APS Payments mentioned an early termination fee exceeding $1,000, and another grievance in our comments section echoed this concern. Such a significant fee could suggest the presence of a liquidated damages clause. Although the Better Business Bureau complaint was not directly addressed by APS Payments, a company representative responded to the comment on our site, disputing the claimant’s status as an APS Payments customer.
Few Contract Complaints
Given the scarcity of detailed complaints concerning the company’s pricing and contract terms, it appears most APS Payments customers are content with their services. As a result, we have given APS Payments an “A” rating for now. However, it’s important to note that APS Payments is not necessarily the most economical option for merchant accounts.
Merchants seeking competitive services are advised to explore our compilation of thepremier merchant account providers.
