Capital Processing Network (CPN) Review
UPDATE 2/18/19: Capital Processing Network has been completely rebranded to Nuvei. We therefore will no longer update this review. See our Nuvei review for up-to-date information about this company.
Capital Processing Network (cpnusa.com) is a merchant account provider located in Scottsdale, Arizona. The company entered the credit card processing industry in 2006. Capital Processing Network is a small operator among the numerous merchant account providers out there, but it does have a very professional website which adds to the company’s credibility. Pivotal Payments acquired Capital Processing Network in 2014. Capital Processing Network, LLC is a registered ISO/MSP of Merrick Bank, South Jordan, Utah; Wells Fargo Bank, N.A., Walnut Creek, California; and BMO Harris Bank, N.A., Chicago, Illinois. Jeff Stephan is the company’s CEO.
It’s worth noting that a 2012 news story by CBS 5 in Arizona outlined Capital Processing Network’s employment practices of hiring convicted felons, some with a history of fraud and identity theft. The full story can be found on the CBS 5 website, with a follow-up story here. A video of the report can be seen below:
CPN News Report Video
- Sales & Marketing: Capital Processing Network appears to hire independent sales agents and has received a moderate number of complaints about its sales practices.
- Costs & Contract: Capital Processing Network appears to offer a three-year contract with an early termination fee of up to $495.
- Complaints & Service: Capital Processing Network has received more than 60 public complaints.
- BBB Rating: Capital Processing Network has an “A+” rating with the Better Business Bureau and has received 18 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With Capital Processing Network
Capital Processing Network Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||60+|
|Live Customer Support||Yes|
|Most Common Complaint||Sales Tactics|
We are currently able to locate more than 60 negative Capital Processing Network reviews. The comment section below this review contains the highest concentration of publicly available complaints filed against the company, with most of those complaints reporting trouble with equipment leases or aggressive, misleading sales tactics. The company’s owner and CEO responded to many of these complaints with varying degrees of success up through December 2012.
On other consumer protection websites, there appears to have been an increase in the rate of posted complaints over the last year, which suggests that the company may be growing more rapidly under Pivotal’s ownership. In one complaint from a former employee (which has been removed since the last update of this review), Capital Processing Network responded by threatening to sue the individual if he did not remove his complaint. Unprofessional rebuttals like these are hopefully not representative of the culture at Capital Processing Network. The company’s website offers an email template and 24/7 phone support.
Capital Processing Network Online Ratings
Here's How They Rate Online
Online Ratings Summary
|Product & Service Complaints||6|
|Billing & Collection Complaints||4|
|Advertising & Sales Complaints||7|
|Guarantee & Warranty Complaints||0|
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.
As of this review, Capital Processing Network is accredited by the Better Business Bureau and holds an “A+” rating with 18 complaints filed in the last 36 months. Six of these complaints are related to problems with the product or service, seven have to do with advertising or sales issues, four are related to billing problems, and one is a delivery error. Eleven complaints have been resolved to the merchants’ satisfaction, while the remaining seven either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. CPN also has 12 negative informal reviews filed against it alongside one positive review.
The company’s accreditation was pulled and its rating was lowered from an “A” immediately following the publication of the 2012 CBS 5 news story, but the BBB‘s current page makes no mention of why these changes were made. Because of this unexplained alteration, and in light of the other information on the page, we have adjusted the BBB’s rating to a “B.”
Capital Processing Network Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee||$495|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||48 Months, Non-Cancellable|
The standard Capital Processing Network contract (available below) outlines a three-year agreement with a variable early termination fee, although merchants have consistently reported that this fee is $495. Other reported fees include a $139.80 annual PCI compliance fee and a $25 monthly minimum fee. Many merchants complain of being lured into expensive, 48-month equipment leases but only 36-month merchant account agreements. This puts merchants in the awkward position of being forced to keep one more year of service with Capital Processing Network in order to fulfill the First Data Global Leasing equipment lease. Not only does this upset merchants, but the leases cost merchants thousands of dollars for machines that could be bought for as little as $150. See the CPN Program Guide.
Capital Processing Network Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Capital Processing Network uses telemarketing to set appointments for agents to visit the merchant. Several merchants complain of constant phone calls even after they specifically requested to be removed from Capital Processing Network’s calling list. Apparently, the calls were so frequent that these merchants felt the need to publicly complain about it. We have also found a number of complaints in the comment section below this review that mention nondisclosure of contract terms or equipment lease terms. To CPN’s credit, the company’s website does not appear to provide any misleading quotes or offers, and it offers a fairly informative blog and some testimonials.
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