Suitable for e-commerce, small businesses, religious groups.
Monthly charges apply.
Uses EMV chip and NFC technology.
Uses individual sales agents.
Generally positive online reviews.
PCI compliance fee.
Overview
In this review of Cornerstone Payment Systems, we will provide a detailed overview of the company’s credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company’s pricing structure, contract terms, and specific features provided. By the end of this review, you will understand whether Cornerstone Payment Systems meets your payment processing needs.
About 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.
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.
Cornerstone Payment Systems Products and Services
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.
Cornerstone Payment Systems Customer Reviews
Here's What Their Clients Say
Customer Reviews Summary
Total Online Complaints
<10
Live Customer Support
Yes
Most Common Complaint
N/A
Recent Lawsuits
No
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.
Cornerstone Payment Systems Online Ratings
Here's How They Rate Online
Online Ratings Summary
BBB Reports
0
Clean Complaint Record
Cornerstone Payment Systems currently has an “A+” rating with the Better Business Bureau and is not BBB accredited. The company has received 0 complaints or informal reviews through its BBB profile in the past 3 years.
An “A” Performance
Given the company’s clean complaint record with the BBB, we agree with the BBB’s rating at this time. Business owners should note, however, that there are reasons to be skeptical of BBB ratings.
Cornerstone Payment Systems Fees, Rates & Costs
A Closer Look at The Contract
Rates & Fees Summary
Cancellation Penalties
Undisclosed
Monthly & Annual Fees
Yes
Processing Rates
1.00% - 4.99%
Equipment Leasing
Undisclosed
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Cornerstone Payment Systems Contract Terms
An older version of Cornerstone Payment Systems’ terms and conditions indicates the company employs contracts of varying lengths, with tiered pricing and early termination fees that were not specified. Some reviews suggest Cornerstone might impose a $50 annual PCI compliance fee, considered below the industry average. Due to the absence of detailed pricing information on Cornerstone’s website, comprehensive insights into their contract terms remain limited.
Virtual Terminal and Payment Gateway Pricing
Cornerstone Payment Systems offers proprietary virtual terminal and payment gateway services, with specific pricing details undisclosed on their platform. Generally, additional rates and fees, such as gateway fees, technical support fees, batch fees, and transaction rates, apply to these e-commerce solutions.
Sparse Contract Complaints
With limited complaints regarding Cornerstone Payment Systems’ pricing available, it can be inferred that a majority of their merchants may be content with the fees charged. However, it remains essential for business owners to thoroughly review their contracts and negotiate terms favorable to their needs. For those with updated or firsthand experience with Cornerstone’s contract terms, sharing your insights in the comments section would be valuable.
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Cornerstone Payment Systems Employee Reviews & Sales Tacitcs
Should You Work For Them?
Jobs & Marketing Summary
Uses Independent Resellers
No
Telemarketing
No
Misleading Marketing
No
Discloses All Important Terms
No
No Widespread Sales Issue
Cornerstone Payment Systems appears to market its service primarily through traditional advertising methods, independent agents, referral programs, and strategic partnerships. We have found only one Cornerstone Payment Systems review related to its sales team. This complaint vaguely describes unexpected debits from the business’ account and appears to have been caused by a simple misunderstanding. In general, there is no indication that Cornerstone Payment Systems engages in unethical sales conduct. We have therefore assigned it an “A” rating in this category.
As an additional point in the company’s favor, there does not appear to be any deceptive Cornerstone Payment Systems rates quotes in its official materials. However, if you suspect that Cornerstone is overcharging you, you can double-check your pricing with a third-party statement audit.
Our Cornerstone Payment Systems Review Summary
Our Final Thoughts
Cornerstone Payment Systems distinguishes itself as a commendable credit card processing provider, particularly favored by non-profits and businesses that align with Cornerstone’s moral and ethical standards. The company has managed to maintain a low complaint volume regarding its services and products, suggesting a satisfactory level of performance and customer support. This relatively clean record contributes positively to its reputation, albeit shadowed by a minimal degree of negative publicity that does not significantly affect its core operations.
Our assessment of Cornerstone remains provisional, pending a deeper exploration of its contract terms which could further influence its rating. Businesses engaged in sectors that Cornerstone might deem high-risk or morally questionable should consider secure alternatives and may find more accommodating service with providers specializing in high-risk merchant accounts that have no reservations about their industry. As more detailed information about Cornerstone’s policies and contractual details becomes available, we will adjust our review to reflect the most accurate evaluation.
Contact Cornerstone Payment Systems
Contact & Customer Support
Owner
Nathan Logan
President and CEO
Nick Logan
Headquarters
307 N Public Square, Centerville, TN
Toll-Free Customer Support
(888) 506-0208
Additional Support Channels
Online Contact Form
Website
https://cornerstonepaymentsystems.com/
Testimonials & Complaints
How Did Cornerstone Payment Systems Treat You?
6 User Reviews
Jennifer
TERRIBLE, lying, thieving company! After trying to call and cancel and email and cancel for MONTHS, they are STILL CHARGING ME WITHOUT MY APPROVAL!!!
Bridget L Gilmore
I have not received my correct W2 form from them…. they didn’t give the correct account of my earnings…. I am now having issues with the IRS because their information does not match my check stubs. Protective Enterprises Public Safety was my Employer who also has stopped communicating with me to resolve the matter….The checks I received from my employer were hand written but Cornerstone sent the IRS a bogus W2 with wages I never received from them because I never had direct deposit set up…. I have proof they rejected my information because my employer never sent them any information on me… So why did they send a W2 for an employee that was never in their system…. I was told I wasn’t in their system and customer service is almost ALWAYS NOT available
I know many non-profits who work with Cornerstone and they are happy.
They are trustworthy and really provide a great service. They are family owned company and give a truly first class service! I would highly recommend them to anyone who is looking for ways to collect donations on-line.
CPO
Hi Brandon,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Brandy
This is the WORST company! If you try to cancel they will constantly transfer you then hang up on you. If you email you will never get a response. I sent a letter in to cancel and when I received a past due amount letter they stated that they never got the letter. I’ve never dealt with such a horrible and shady company, and to think they say they are a christian company. “Do unto others…”
Lisa Mallory
Do not use this company. They are not trustworthy. They are only an third party agent that charges you an annual fee for completing a compliance survey with your actual
Merchant service provider. Best to set up the merchant serve account directly with a reputable company like sage.
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Jennifer
TERRIBLE, lying, thieving company! After trying to call and cancel and email and cancel for MONTHS, they are STILL CHARGING ME WITHOUT MY APPROVAL!!!
Bridget L Gilmore
I have not received my correct W2 form from them…. they didn’t give the correct account of my earnings…. I am now having issues with the IRS because their information does not match my check stubs. Protective Enterprises Public Safety was my Employer who also has stopped communicating with me to resolve the matter….The checks I received from my employer were hand written but Cornerstone sent the IRS a bogus W2 with wages I never received from them because I never had direct deposit set up…. I have proof they rejected my information because my employer never sent them any information on me… So why did they send a W2 for an employee that was never in their system…. I was told I wasn’t in their system and customer service is almost ALWAYS NOT available
This post will help: Top-Rated Credit Card Processors
-Phillip
Brandon Moore
I know many non-profits who work with Cornerstone and they are happy.
They are trustworthy and really provide a great service. They are family owned company and give a truly first class service! I would highly recommend them to anyone who is looking for ways to collect donations on-line.
CPO
Hi Brandon,
Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!
Brandy
This is the WORST company! If you try to cancel they will constantly transfer you then hang up on you. If you email you will never get a response. I sent a letter in to cancel and when I received a past due amount letter they stated that they never got the letter. I’ve never dealt with such a horrible and shady company, and to think they say they are a christian company. “Do unto others…”
Lisa Mallory
Do not use this company. They are not trustworthy. They are only an third party agent that charges you an annual fee for completing a compliance survey with your actual
Merchant service provider. Best to set up the merchant serve account directly with a reputable company like sage.