Before You Sign Up: A Deep Dive into Cornerstone Payment Systems

Founded in 2001, Cornerstone Payment Systems is a merchant account provider that claims to put “Christ at the cornerstone of our business.” The company places an emphasis on its Christian affiliation and advertises that it does not process credit card transactions for businesses that it deems morally objectionable. According to this source, Cornerstone’s definition of morally objectionable transactions may include sales of pornographic content or donations to Planned Parenthood. For this reason, businesses that may qualify as morally objectionable by Cornerstone’s standards should not expect to be approved for merchant accounts through the company. The company appears to utilize TSYS, WorldPay, Paya, and First Data (now Fiserv) as its backend processors as well as NMI and Clover as POS solutions.

In 2020, Cornerstone Payment Systems acquired Move Your Mountain.

It must be noted that since 2020 Cornerstone Payment Systems has been accused of leaking the data of at least 9 million customers.

Acquisition of Crowd-Funding Platform

Cornerstone Payment Systems acquired the crowd-funding platform Move Your Mountain in January as of 2020. Move Your Mountain was founded in 2014 as a platform that shares the same values as Cornerstone Payment Systems. Unlike other crowdfunding platforms, Move Your Mountain does not impose deadlines on fundraising campaigns. Crowd-funding campaigns hosted by Move Your Mountain are also free of set-up charges, though a donation fee and processing fee are taken from each donation by the company and its backend process, WePay.

Payment Processing

Cornerstone Payment Systems processes all major debit and credit cards. Their services include EMV card readers and swipers, virtual terminals, ACH processing, recurring billing, access to a payment gateway, custom payment pages, and donation services.

E-commerce Payment Gateway

Cornerstone offers an online payment gateway designed for secure e-commerce transactions. Compatible with major credit card brands and widely used shopping cart systems, this gateway enables merchants to accept payments on their online stores.

Mobile and Virtual Terminal Transactions

Cornerstone provides mobile and virtual terminal transaction services, allowing businesses to accept card payments remotely or when the card is not physically present. These services are accessible via a mobile app or a virtual terminal with an internet connection.

Merchant Cash Advance Service

Cornerstone also offers a merchant cash advance service, enabling businesses to quickly access working capital. This service is based on the volume of a merchant’s credit card transactions.

Customer Feedback Analysis

Our research indicates fewer than 10 negative reviews of Cornerstone Payment Systems, with some explicitly labeling the company as a scam or ripoff. Common complaints include delayed deposits and lack of customer support. Notably, a significant portion of these reviews are over four years old, and at least two have been publicly retracted. These older reviews are not reflected in our current evaluation. Cornerstone Payment Systems has responded professionally to some complaints, while others remain unaddressed. We encourage individuals with personal experiences to share their reviews of Cornerstone Payment Systems in the comments section.

Data Security Concerns

According to recent reports, Cornerstone Payment Systems had an unprotected database containing sensitive merchant account information, including names, email addresses, and partial credit/debit card numbers. Since this issue was identified, the company has reportedly secured the database. However, a subsequent data breach was reported, raising further concerns about data security.

Association with the Duggar Family

Cornerstone Payment Systems has received some negative online attention regarding its potential business with members of the Duggar family from the TV show 19 Kids and Counting. Allegations in online forums suggest that Cornerstone may have processed donations for Duggar family operations or permitted them to establish sub-ISOs. These claims are currently unverified and seem to have minimal impact on the company’s overall performance as a payment processor. Nevertheless, considering Cornerstone’s marketing strategy emphasizes moral values, this information might be relevant to current and prospective clients.

Legal and Regulatory Status

No current class-action lawsuits or Federal Trade Commission (FTC) complaints against Cornerstone Payment Systems have been identified. Dissatisfied clients are advised to consider reporting concerns to relevant supervisory bodies.

Customer Support Evaluation

While the number of public complaints against Cornerstone Payment Systems is relatively low and seems isolated, the company offers customer support during standard business hours.