Credit Card Processing Equipment Leases
Founded in 2011, Ascentium Capital is a financing and leasing company that sells long-term equipment leases for point-of-sale hardware and merchant cash advances. In particular, the company is known to provide credit card terminal leases for a number of poorly rated i3 Verticals subsidiaries including Performance Merchant Alliance, Freedom Card Solutions, United Card Solutions, Direct Processors, Red Payments, Chyp, and Radiant Merchant Services.
A Warning About Equipment Leases
In the credit card processing industry, it is common for payment processors to partner with third-party leasing vendors to provide merchants with credit card terminals and point-of-sale equipment. These partnerships are usually not disclosed to merchants, and the leasing provider’s contract terms are often bundled with the overall merchant account contract. Merchants will unknowingly sign an agreement to lease credit card processing equipment for up to five years through a third-party vendor that has no connection to their merchant account provider. These leases usually run for 48 months and cannot be canceled without paying the full cost of the lease, which traps merchants into paying thousands of dollars for equipment that costs under $500. Unsurprisingly, leasing providers are some of the worst-rated providers on CPO, and Ascentium Capital appears to operate in a similar fashion to its peers.
Ascentium Capital Location and Ownership
Ascentium Capital was acquired by the private equity firm Warburg Pincus LLC in 2016. Ascentium Capital is headquartered at 23970 US-59 N, Kingwood, Texas 77339. Thomas Depping is the CEO of Ascentium Capital.
Ascentium Capital Review Table of Contents
- Costs & Contract: Ascentium Capital offers non-cancellable equipment leases of up to 60 months with cancellation fees that can cost thousands of dollars.
- Complaints & Service: Ascentium Capital has received more than 100 public complaints.
- BBB Rating: Ascentium Capital currently has an “A+” rating and has received 47 complaints and 109 reviews in the last 3 years. The company has been accredited by the Better Business Bureau since 2015.
- Sales & Marketing: Ascentium Capital relies on independent resellers to sell its equipment leases alongside their merchant account contracts.
- Rates & Fees: How Merchants Got The Best Rates With Ascentium Capital