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Argus Merchant Services is a merchant account provider based in New York City. Argus Merchant Services claims to serve over 100,000 merchants and is a reseller of First Data (now Fiserv) merchant accounts and products.
Payment Processing Solutions
Argus Merchant Services offers payment processing solutions that allow businesses to accept payments from their customers securely. The company provides a range of payment processing options, including credit card, debit card, and ACH payments. The payment processing solutions come with robust security features, including PCI compliance, fraud prevention, and tokenization.
Point of Sale Systems
Argus Merchant Services also offers point of sale (POS) systems that help businesses streamline their operations. The POS systems come with a range of features, including inventory management, employee management, and real-time reporting. The company offers both traditional and mobile POS systems to meet the needs of different businesses.
Argus Merchant Services provides businesses with virtual terminals that allow them to accept payments through their computer or mobile device. The virtual terminals come with a range of features, including customizable checkout pages, fraud prevention tools, and recurring billing. The company’s virtual terminals also integrate with a variety of popular e-commerce platforms.
Online Payment Gateway
Argus Merchant Services offers an online payment gateway that allows businesses to accept payments through their website. The online payment gateway comes with a range of features, including customizable checkout pages, fraud prevention tools, and recurring billing. The company’s online payment gateway also integrates with a variety of popular e-commerce platforms.
Argus Merchant Services offers merchant services that help businesses manage their payment processing needs. The company provides a range of merchant services, including chargeback management, dispute resolution, and fraud prevention. The merchant services also come with a dedicated account manager who provides personalized support to businesses.
Gift and Loyalty Programs
Argus Merchant Services provides businesses with gift and loyalty programs that help them increase customer loyalty and boost sales. The company’s gift and loyalty programs come with a range of features, including customizable rewards, real-time reporting, and marketing tools. The programs are easy to set up and integrate with the company’s payment processing solutions.
Location & Ownership
The company is a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, CA. Its headquarters can be found at 40 Exchange Place, Suite 1607, New York, New York 10005. They also list a location at 17700 Castleton Street Suite 458, City of Industry, CA 91748. Jacob Shimon is listed as the president of Argus Merchant Services.
Table of Contents
- Costs & Contract: Appears to offer a standard contract through First Data (Fiserv) with…
- Complaints & Service: Complaints number more than 10 on…
- BBB Rating: Currently has an “A+” rating with the Better Business Bureau and has received 24 complaints and 6 reviews in…
- Sales & Marketing: Has received a handful of sales complaints but does not…
Argus Merchant Services Reviews and Complaints
Here's What Their Clients Say
Total Online Complaints
Live Customer Support
Most Common Complaint
Increasing Complaint Total
We have located over 10 negative Argus Merchant Services reviews, some of which accuse the company of being a scam or a ripoff. Commonly cited problems include misrepresentation of rates, nondisclosure of Argus Merchant Services fees, expensive termination costs, poor customer service, and being charged after canceling the service. One Argus Merchant Services complaint mentions an early termination fee of $790. However, a representative of the company disputes that complaint, citing a fee of $495 that is in line with a typical First Data (Fiserv) contract. If you have your own Argus Merchant Services review to make, please do so in the comments below.
Positive Employee Reviews
To its credit, the company is also showing multiple positive reviews from former employees. It’s worth noting that a good number of reviews about Argus are written in broken English, and that merchant reviews (as well as the company’s marketing materials) suggest that it specifically markets to Chinese-American and Spanish-speaking merchants.
Argus Merchant Services Lawsuits and Fines
In 2017, a lawsuit was filed that dealt with a then-employee of Argus who was alleged by a former employee to be giving trade secrets to Argus. The suit was dismissed in Argus’ favor.
Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Argus Merchant Services Customer Support Options
Argus offers phone and email support to its merchants.
Argus Merchant Services Customer Service Numbers
- (888) 459-0660 – Toll-Free General Customer Service
Other Support Options
- Customer service form on its website
- Sales email at [email protected]
However, these channels are not enough to qualify it as a top-rated merchant account provider for customer service.
Argus Merchant Services BBB Rating and Report
Our Better Business Bureau Profile Assessment
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Over 20 Complaints
Argus Merchant Services is currently showing an “A+” rating with the Better Business Bureau based on 24 complaints filed in the past three years. Only 6 of these 24 complaints were resolved by the company to the satisfaction of the merchant. The remaining 18 were resolved to the dissatisfaction of the merchant or received no final response.
What Merchants Say
In addition to the 24 complaints filed against Argus with the BBB, merchants have left 6 informal reviews of the company. 2 reviews were negative while 4 were positive. Merchant reviews left with the BBB have accused the company of misrepresenting rates, having unresponsive customer service, and being charged hidden cancellation fees:
This company is charging cancellation fee $495.00 plus and Im with them for more than 2 years.When I sign up with them, theyll never let you know until read the very small prints. During the time they also let irs withhold part of my money because they said I dont enough information.Which I never understand they never ask for additional information , instead letting irs withhold my money and I dont even know when I will be getting it back. During this pandemic time we needed money for the business to run. SO PLEASE THINK TWICE BEFORE YOU SIGN UP WITH THIS COMPANY!
Merchants who find themselves in this situation may benefit from taking the proper steps to cancel their merchant account without paying a fee.
A “C” Rating Overall
Given the company’s complaint total and resolution ratio, we have adjusted its rating to a “C.”
Argus Merchant Services Fees and Rates
A Closer Look at the Contract
Don't Fall Into An Expensive Trap. See Who The Worst Processors Are.
Monthly & Annual Fees
Unclear Contract Pricing
There is very little specific information available at this time regarding the standard Argus Merchant Services rates or contract. Sparse information conveys a 3-year agreement with an automatic renewal for a 2-year term.
As a reseller of First Data (Fiserv), so its standard contract terms may be similar to those offered by First Data (Fiserv). 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. Merchants who 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. Merchants 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.
Argus Merchant Services does have the freedom to alter these terms depending on a business’ size, business type, and processing history as a reseller of First Data (Fiserv) products. However, with a lack of readily available information on the company’s rate and fee structure, merchants considering its services should refer to the First Data (Fiserv) contract as a point of reference.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Argus Merchant Services 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.
One business owner complaint filed against the company mentions a leased terminal with a possible penalty for failing to return it on time. Another client reported an early termination fee of over $800, which is much larger than industry averages, and there are also reports of early termination fees of $495, $500, and $750. Still another complainant claims that the company charged an undisclosed annual fee just six months into the contract. Other complaints accuse the company of charging businesses after their contracts had been terminated.
Average Contract Terms
All of these factors suggest that Argus offers contract terms that are not competitive with the cheapest merchant accounts, and the number of client complaints that mention the company’s contract terms lead us to award Argus Merchant Services an average score of “C” in this section. If you have any specific knowledge of the standard Argus Merchant Services contract, please share that information in the comment section of this review.
We also encourage merchants to check out our list of the providers of the best merchant accounts.
Argus Merchant Services Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Audit Your Current Statement To Find Its Hidden Fees
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Uses Independent Resellers
Discloses All Important Terms
Telemarketing and Outside Sales Agents
Argus Merchant Services appears to primarily market itself through telephone appointment setters, ISOs, and independent sales agents. The use of independent sales agents is commonly tied to high complaint rates within the industry, as independent agents tend to receive less training and oversight than in-house, W2-employed sales reps. In this case, Argus Merchant Services is no exception, as there are several Argus Merchant Services complaints that mention the credit card processor’s sales tactics.
This compares favorably to our list of best credit card processors.
We are able to locate a few negative Argus Merchant Services reviews that allege nondisclosure of fees and misrepresentation of rates by the company’s sales team. A number of complaints from former and current employees also admit to persuasive, aggressive sales tactics and over-promising on rates, and one former employee even openly suggests that the company scams its customers.
Some Red Flags
Sales complaints against Argus Merchant Services have been on a steady increase since we first reviewed Argus and could indicate that the company has some new issues with its sales team. The content (more than the quantity) of the available complaints is concerning enough to warrant a “C” grade in this category for the time being. If you suspect that Argus Merchant Services is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden costs.
Argus Merchant Services Review Summary
Our Final Thoughts and Opinions
Argus Merchant Services rates as an average option for credit card processing services according to all available information. The company has a low-to-moderate number of complaints online, but it’s difficult to determine the exact details of the company’s pricing at this time. Business owners are encouraged to inquire about all possible costs before signing up for service through the company and to compare Argus’s pricing to top-rated merchant account providers to get the best deal.
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Customer & Employee ReviewsWhat Others Are Saying About Argus Merchant Services