Benchmark Merchant Solutions Review

Based in Amherst, New York, Benchmark Merchant Solutions is a merchant account provider that offers startup business solutions and payment processing for businesses of all sizes as well as non-profit organizations. Benchmark Merchant Solutions does not list its founding year on its website, but the Better Business Bureau states that the company began operating in 2008. Benchmark is a reseller of EVO Payments International.

Payment Processing

Benchmark Merchant Solutions handles payment processing for all major debit and credit cards across various business types. Their services include EMV card readers and swipers, POS solutions, e-commerce solutions, mobile solutions, and non-profit fundraising solutions.

POS: Seamless Payment Experience

Benchmark Merchant Solutions provides a comprehensive POS system that supports multiple payment methods, including credit and debit cards. It also integrates easily with existing systems, allowing businesses to incorporate Benchmark’s POS into their operations.

Mobile Payment Processing

For businesses that need to operate in various locations, Benchmark offers a mobile payment processing solution. This service enables businesses to accept credit card payments via mobile devices. Benchmark’s mobile processing is compatible with many smartphones and tablets.

E-commerce Payment Solutions

Benchmark Merchant Solutions supports online businesses with a robust e-commerce payment gateway. This service enables businesses to securely accept credit card payments from customers worldwide.

Customized Payment Gateway Integrations

One of Benchmark Merchant Solutions’ strengths is its ability to integrate with various payment gateways. This allows businesses to customize their payment processing systems to meet their specific needs.

Overview of Customer Feedback

Our investigation reveals approximately 5 negative reviews of Benchmark Merchant Solutions, with a few labeling the company as a ripoff or scam. Many of these concerns were related to a merchant cash advance program offered by one of the company’s ISOs. Benchmark Merchant Solutions has reportedly taken steps to discontinue this promotion and to resolve the issues of the affected merchants. Other complaints focus on delays in account deposits and charges related to early contract termination. We encourage readers to share their own experiences with Benchmark Merchant Solutions in the comments below to enrich our understanding of the company.

Benchmark Merchant Solutions Lawsuits

No evidence of class-action lawsuits or Federal Trade Commission (FTC) complaints against Benchmark Merchant Solutions has been found in our research. Clients seeking alternatives to litigation can report their experiences to appropriate supervisory bodies.

PaymentPop Rating for Benchmark Merchant Solutions

Negative Feedback

There are no negative reviews published about Benchmark Merchant Solutions on the PaymentPop website.

Benchmark BBB Rating

Benchmark Merchant Solutions currently has an “A+” rating with the Better Business Bureau and is not BBB accredited at this time. The company has received 0 complaints in the past 36 months.

Benchmark Merchant Solutions has no informal reviews in the last 3 years. One former review cited difficulty canceling the merchant account:

Clients who find themselves in this situation are advised to take steps to cancel their merchant account without paying a fee.

An “A” Performance

In light of the company’s clean complaint record, we agree with the BBB’s rating at this time.

Google Maps Rating for Benchmark Merchant Solutions

Benchmark Merchant Solutions has a 3.8 out of 5 star rating based on 4 user reviews on Google Maps.

Three-Year Agreement

Benchmark Merchant Solutions previously disclosed a three-year contract term with automatic renewal for one-year increments on their website, now removed. An early termination fee of $495 and several monthly charges have been confirmed by client feedback. Being an EVO Payments International reseller, Benchmark Merchant Solutions’ contract terms might closely align with those of EVO. Typically, an EVO Payment International agreement includes a PCI compliance fee of $120 annually. The contracts also tend to feature long-term, non-cancellable equipment leases, leading to costs significantly above purchasing credit card terminals outright. Business owners are encouraged to review our selection of the top merchant services for better alternatives.

Industry-Standard Terms

The terms of Benchmark’s contract are in line with industry standards. Despite this, the scarcity of complaints regarding the company’s pricing structure suggests that many clients are content with their service. Consequently, Benchmark Merchant Solutions has been given a “B” rating in this area. Nonetheless, it’s recommended that businesses evaluate Benchmark’s rates alongside those offered by affordable merchant account providers. For individuals with detailed insights into Benchmark Merchant Solutions’ standard agreement, your contributions in the comments section would be greatly appreciated.

Third-Party Resellers

Benchmark Merchant Solutions appears to primarily market its services via independent sales offices and traditional advertising. The use of independent resellers is commonly linked to elevated complaint rates in the credit card processing industry, and we have located a handful of Benchmark Merchant Solutions reviews that accuse the company of misrepresentation or nondisclosure of terms.

This does not compare favorably to our list of best credit card processors.

Sales Complaints

At least one Benchmark Merchant Solutions complaint stems from undesired telemarketing from the company, but many older complaints almost exclusively appear to be related to a merchant cash advance promotion conducted by one of the company’s ISOs in 2012 and 2013. Clients specifically complain of being promised large cash advances in exchange for opening merchant accounts but never receiving the cash advances. The company has since taken steps to correct the issue, but it appears that these Benchmark Merchant Solutions complaints were a direct product of its sales infrastructure. We have therefore lowered the company’s score slightly in this category.

No Deceptive Marketing

To its credit, BMS does not appear to advertise any misleading rate quotes or unrealistic guarantees in its official materials. If you suspect that you have had undisclosed Benchmark Merchant Solutions fees added to your Benchmark Merchant Solutions contract, we recommend seeking a third-party statement audit to eliminate hidden charges.

Benchmark Merchant Solutions stands out as a reliable credit card processing provider, based on extensive data collected. The majority of grievances lodged against the company are seemingly tied to previously resolved issues, indicating an improvement in practices or resolutions that have mitigated these older problems. Despite its commendably low rate of complaints, the company’s contract terms remain typical of the industry, which stops it from achieving the exceptional value provided by the leading payment processors in the market. This aspect slightly hampers its ability to compete at the highest level, as the contract terms often dictate the flexibility and satisfaction merchants experience. While Benchmark shows promise, businesses might find better terms and services with top-rated merchant account providers known for their superior contract offerings and customer-first approaches.