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Century Payments Review
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UPDATE 3/4/2019: Century Payments was acquired by WorldPay in September 2013 and the company’s URL is no longer active. It appears that WorldPay has decided to retire the Century Payments brand and board new merchants under the WorldPay brand. We therefore will no longer update this review. Up-to-date information about this company can be found at our WorldPay review.
Century Payments (centurypayments.com) appears to be a fairly new merchant account provider within the credit card processing industry. Based in Frisco, Texas, and founded in 2009, Century Payments has grown rapidly with a $50 million investment from venture capital firm Austin Ventures. Century is one of two providers (the other one being Mercury Payment Systems) to provide backend processing for SalesVu. Additionally, the company claims to have been listed in Inc. Magazine’s 500 fastest growing U.S. companies list four years in a row, which would mean that it made the list in its first year of operation. The claim was not verified for the purposes of this review.
Century Payments Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||30+|
|Live Customer Support||Yes|
|Most Common Complaint||Hidden Fees|
As of this review, there are approximately 30 Century Payments negative reviews filed online, many of which can be found in the comment section below. Some of these complaints make a point of calling Century Payments a scam or a ripoff. The company’s complaint total has tailed off since the WorldPay acquisition, but this is likely due to the fact that complaints are now filed against WorldPay instead. The common themes in merchant complaints are misrepresentations of costs and omission of important fees prior to account setup. Several also report that they were not made aware of the ETF and three-year service agreement. Most of these complainants claim to have received very poor customer service.
Additionally, there are a few complaints online from current and former employees and agents. Of the agent complaints, a couple report nonpayment of commission and state that they have engaged the company in lawsuits. Other employees, who appear to be telemarketing or inside sales staff, complain of a poor work environment and extremely high turnover.
Century Payments Online Ratings
Here's How They Rate Online
|Product & Service Complaints||5|
|Billing & Collection Complaints||4|
|Advertising & Sales Complaints||3|
|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.
Century Payments is not accredited with the Better Business Bureau and is currently showing an “F” rating based on 12 complaints filed in the last three years. Of these complaints, five were related to products and services, three had to do with advertising and sales issues, and four were due to billing and collection disputes. The company resolved two complaints, while seven were resolved to the dissatisfaction of merchants and three received no resolution whatsoever. The BBB cites these unresolved complaints and the company’s time in business as the two primary factors lowering its rating. In light of the company’s complaint volume and resolution ratio, we have adjusted the BBB’s rating to a “C-” for the purposes of this review.
Century Payments Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee||$250-$350|
|PCI Compliance Fee||$9.99 Per Month|
|Equipment Lease Terms||Variable|
A blank copy of the standard Century Payments merchant account contract is available below. This document outlines a three-year agreement through iPayment with an early termination fee of either $250 or $350, monthly PCI Compliance fees of $9.99, monthly non-compliance fees of $30, and monthly regulatory fees of $4.95. Merchants have reported higher figures for some of these fees as well as additional costs that aren’t outlined in this document, and terms will vary from merchant to merchant primarily based upon the agent setting up the account. For this reason, merchants are encouraged to aggressively negotiate and thoroughly read the agreement before signing (See “Fee Sweep” to learn how to negotiate a merchant account contract). It should be noted that Century Payments appears to enforce these fees and contract terms even when merchants report that they were misled by a sales agent. See the Century Payments Merchant Application.
Century Payments Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Like many merchant services sales organizations, Century Payments hires independently contracted agents and sub-ISOs as a primary method for marketing its services. This lowers the company’s rating because quality control of the sales process with resellers is more difficult to manage and often leads to a higher complaint ratio for the provider. As of this review, it appears that both Century Payments and WorldPay are suffering from the typical complaints associated with this common marketing practice. The company also appears to engage in telemarketing.
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