A Membership Based Merchant Services Entity
CoCard is a company that works with several different merchant account providers. The company offers the payment processing services of First Data, Global Payments, and eProcessing Network. Its members are given equity in the company, affecting their ability to use the company to negotiate lower rates and fees from its associated payment processors. Additionally, memberships with the company include access to the company’s proprietary POS system and services like fraud prevention, transaction monitoring, and other features. Most standard to high risk merchants can qualify for the company’s memberships.
Partnered with Several Processors
After several hours of research and telephone calls, we have been able to determine that CoCard is a sales organization originally partnered with National Processing Company (NPC) (which has since been absorbed into Worldpay) and Fifth Third Bank, and that First Data supplies the merchant accounts that CoCard agents sell. It appears that CoCard’s main role is recruiting and managing independent sales agents who market and sell the merchant accounts on CoCard’s behalf. CoCard also appears to operate under the name Strategic Payment Systems.
CoCard Location and Management
CoCard is a registered ISO/MSP of Wells Fargo Bank, N.A. of Concord, California, Citizens Bank, N.A., Providence, Rhode Island, and FifthThird Bank, N.A., Cincinnati, Ohio. The company’s headquarters are located at 3401 West End Ave., Ste. 306, Nashville, Tennessee 37203. Chuck Moerbe is the owner of CoCard.
CoCard Review Table of Contents
- Costs & Contract: CoCard appears to offer contract terms that vary depending on the agent and office involved.
- Complaints & Service: CoCard has received more than 20 public complaints.
- BBB Rating: CoCard has an “A+” rating and has received 2 complaints in the past 3 years. The company has been accredited by the Better Business Bureau since 2009.
- Sales & Marketing: CoCard appears to hire independent sales representatives and has received some complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With CoCard
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